AmTrust Exec launches new commercial crime coverage
AmTrust Exec, a division of AmTrust Financial Services that offers a full suite of management liability products, has introduced a new commercial crime product to provide coverage for a wide range of medium- and large-sized businesses.
The new product covers loss from employee and third-party theft of money, securities and other property. It includes employee theft without manifest intent, computer and electronic funds transfer fraud, fraudulent impersonation and clients' property.
AmTrust Exec was formed in January 2020 when AmTrust’s Corepointe Insurance Agency acquired Euclid Executive Liability Managers. Melissa Schwartz joined AmTrust as part of that acquisition and now leads the commercial crime product offering. She was formerly the fidelity and crime product leader at Liberty International Underwriters.
James Seymour, AmTrust Exec senior vice president, said, “In this new age of cybercrime, we are finding that businesses are facing never-before-seen threats as criminals find ways to impersonate employees electronically and hack into accounting systems to misdirect funds. This new product is designed to protect against these kinds of sophisticated new schemes, as well as simple petty theft.”
AmTrust Exec offers products such as directors and officers liability and employment practices liability, as well as the new commercial crime policy.