Financial Institutions Fraud Assurance

Protect yourself against fraudulent acts.

Fraud has been experiencing significant growth for several years, facilitated in particular by the dematerialization of exchanges, easy access to information about companies, their executives, and their employees on the Internet and social networks, and the increasing sophistication of fraudsters' methods. It represents a major risk for all financial institutions, which leaders must address by implementing prevention and detection tools and internal procedures.

Whether they are committed by a leader and/or an employee (internal fraud) and/or a third party (external fraud), fraud can have extremely serious consequences for financial institutions:

  • Financial prejudices
  • Impact on the sustainability and image of the company
  • Involvement of the company's liability due to the actions of its agents, or even of its managers in case of mismanagement...

Subscribing to a "FRAUD" insurance contract is an additional means to protect the company when it is a victim of internal or external fraud, regardless of its operating mode (computer or not).

Guarantees come into play in case of:
  • Internal fraud (as defined in the contract*), relating to the insured assets committed by certain directors and/or employees for personal enrichment purposes
  • External fraud (as defined in the contract*), relating to the insured property committed by a third party for personal enrichment purposes.

The guarantees only apply to fraudulent acts expressly listed in the policy.

The main guarantees are:
  • Guarantee of direct pecuniary losses suffered by the insured in case of internal or external fraud.
  • Guarantee of expenses incurred by the insured in case of internal or external fraud:
  1. Additional operating expenses incurred by the insured for the restoration of normal operating conditions of their business activity (cost of renting replacement equipment, transportation costs for equipment and documents, costs of additional labor and overtime hours, expenses for subcontractors or external service providers)
  2. Fees and fees of an expert appointed by the insured to determine the circumstances of the fraud and the amount of financial damages.
  3. Costs of recourse and amicable or judicial proceedings against the perpetrator or perpetrators of the fraud in order to obtain full or partial reimbursement of the claim.
  4. Interest on loans (suffered debtors or unpaid creditors by the insured) due to fraud.
Vagues

Découvrez notre analyse du marché

En 2024, le marché de l’assurance fraude demeure complexe, avec une demande en hausse face à l'augmentation continue des fraudes internes et externes. Les escroqueries liées aux paiements, l’usurpation d’identité et les fraudes par compromission de courrier électronique (BEC) sont en progression, incitant les entreprises à rechercher des protections renforcées. En réponse, les assureurs adoptent une vigilance accrue lors de la souscription, en particulier pour les secteurs à risque élevé tels que les services financiers et les grandes entreprises multinationales.

Our clients

  • The society
  • The subsidiaries of the company

Why choose Howden?

  • Understanding your challenges: une connaissance précise de votre secteur d'activité et des risques encourus par les entreprises
  • Global approach: An approach that integrates advice, investment, management, and support in the event of a claim.
  • Expertise: une équipe de spécialistes en Fraude intégrée aux équipes de service de nos clients à tout moment
  • Responsiveness & Availability:  Des équipes expertes dans leurs domaines respectifs. L’expérience individuelle de chacun est à votre disposition pour piloter vos expositions et optimiser vos protections assurancielles. 
  • Support at all stages of your development: From starting up to expanding internationally, all the way to going public on a French or foreign market.
  • Adaptation & Network: une expertise de proximité grâce à nos implantations régionales et un accès à notre réseau international intégré Howden One présent dans plus de 100 pays
  • Defense of your interests: engagement de délais de règlement courts, approche juridique solide pour garantir la protection de vos droits et intérêts, un réseau de gestionnaires sinistres spécialisés en France et à l’étranger

Contact

Photo of Didier Seigneur

Didier Seigneur

Director of Financial Risks Department

Contact us

Get in touch by leaving a message below and we'll get back to you as soon as possible. Alternatively call us on: 01 55 32 72 00

Are you a:
CAPTCHA
7 + 5 =
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.