When employee defalcation is suspected or discovered, insurance settlements from fidelity bonds or crime coverage can not only reimburse the employer for a major portion of the financial loss, but also provide essential evidence required for civil litigation or criminal prosecution.
Most white collar crimes are complex, and unlike other forms of insurance. the burden of proof is squarely upon the policyholder, who also bears the burden of investigation, audit and accounting, as well as submission of conclusive documentation and evidence to the insurer in the form of formal Proof of Loss.
The initial reaction by the employer to suspected wrongdoing is critical to the successful handling of the entire matter and there is no single solution to every claim. MAI’s long experience in fraud auditing, civil and criminal investigation and forensic accounting provides the basis for the most timely and cost effective solution to the matter at hand. We help you avoid costly mistakes.
Our partners can combine established claim methods with technologically advanced solutions to reduce the time and expense required between discovery and recovery. In addition to insurance, MAI also focuses on third party sources of recovery from the beneficiaries of the crime.
Many crime insurance policies provide for reimbursement to the Client of fees and expenses incurred in connection with the discovery, investigation, and documentation of the out-of-pocket loss. Clients’ in-house expenses and overhead are not covered. This coverage can put MAI to work for your company, firm or agency at little or no final cost.