financial industry employee crime

The Risk of Employee Theft and Crime in Financial Institutions

Financial institutions around the world face significant risks in their operations – both externally and from within. Employee theft and crime, including fraudulent activities, are believed to be the largest risks banks and other financial services firms face. Despite numerous safeguards, financial institutions are vulnerable to criminal activity of employees, who often have access to customer accounts as well as transaction and personal data that can be used for illicit means. U.S. Risk Underwriters, a specialty provider of a number of insurance programs for the financial industry, knows that financial managers and business owners need to understand the risks posed by employee theft and crime.

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The Critical Value of Valet-Parking Insurance

The Critical Value of Valet-Parking Insurance

Once reserved for upscale establishments, valet parking of patrons’ vehicles is now as common as that famous chain with the yellow arches. No longer confined to fine-dining restaurants, exclusive clubs, or resorts and hotels, valet parking is now seen at businesses as diverse as car dealerships, airports, medical centers, and even grocery stores. Most of the time these venues subcontract their valet parking to a parking professional that specializes in these operations. The valet operator then becomes contractually liable for all claims relating to their parking duties.

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