A Comprehensive Guide to Successful Claims Outcomes (Part II of II) In this second of a two-part article, the authors discuss areas where outside expertise may be needed and policy exclusions. Read Part I here. Introduction: Navigating Claims Challenges and How Experts Can Help Throughout the fidelity claims handling process, issues or challenges may arise for which parties involved must reconcile. Here are some common issues that may be encountered: Proof of Loss: One of the primary challenges in fidelity claims is establishing the proof of loss. The insured party must provide evidence of the fraudulent or dishonest acts committed…
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A Comprehensive Guide to Successful Claims Outcomes (Part I of II) Fidelity/crime/financial institution bonds, in a general sense, cover an insured from the willful theft of property, money, and securities by one of their employees or an outside third-party carried out through a variety of means. Such fraud can impact myriad industries. In this two-part article, the authors provide fundamental aspects of a fidelity investigation, from inception to recovery of stolen funds. Introduction: Understanding Fidelity Investigations Fidelity/crime/financial institution bonds, in a general sense, cover an insured from the willful theft of property, money, and securities by one of their employees…