Managed care organizations and health insurance companies need specialized crime coverage to address their unique exposures. Travelers Wrap+® Financial Institution Bond with Extended Coverages is designed to meet the unique coverage needs of managed care organizations and health insurance companies by keeping up with and providing protection for the types of crime exposures faced by today's health insurance companies. Exposure from employee dishonesty continues to be a significant threat to insurance companies. An internal fraud can often span many years and can be difficult to detect even with appropriate controls in place. In fact, many losses are discovered under unusual circumstances outside of the controls a company has in place to detect fraudulent transactions. By the time such a fraud is exposed, the dollar amount of the loss may have escalated to catastrophic portions.

Travelers Wrap+® Financial Institution Bond for Insurance Companies with Extended Coverages provides a broad range of coverage for financial losses due to specified perils.  It has been designed to keep up with the ever evolving risks faced by managed care organizations and health Insurance companies and protects against such risks. This policy can provide: Dishonesty of Employees; including Fidelity, Trading Loss and ERISA coverages, On Premises, In Transit, Forgery or Alteration, Securities, Counterfeit Money and Counterfeit Money Orders and Computer Systems including; Computer Fraud and Fraudulent Instructions.  Other coverages available at a sub-limit include Restoration Expenses, Claim Expense and Computer System Restoration Expenses.  Kidnap and Ransom coverage can also be added to this policy.

Basic coverage includes Dishonesty, On-Premises, In-Transit, Forgery and Alteration, and Counterfeit Money and Counterfeit Money Orders.   CIS recommends consideration of all the coverages listed above, including restoration costs of electronic information in the event of employee dishonesty or a computer theft, and the claim expense sub-limits. The combination of coverages will provide the best protection for your client in a package policy with common terms and conditions for ease of administration.

CIS can also provide excess coverage for FI Bonds.  See Excess Page for more information.

Download a copy of the Financial Institution Bond with Extended Coverages Highlights for more information.

"Nothing stated herein affects the terms, condition and coverages of any insurance policy or bond issued by any of the referenced insurers, nor does it imply that coverage does or does not exist for any particular claim or type of claim under any such policy or bond. Availability of coverage referenced in this document can depend on underwriting qualifications and state regulations."

Coverage underwritten by Travelers Casualty and Surety Company of America and its property casualty affiliates, Hartford, CT 06183