NEW YORK--(BUSINESS WIRE)--Starr Companies announced today an enhanced Crime & Fidelity endorsement expanding coverage for fraudulent impersonation losses.
“This enhanced coverage protects insureds more fully by offering coverage for losses associated with certain transfers of tangible property because of fraud,” stated Brian Inselberg, senior vice president, Financial Lines, “While coverage for loss of ‘funds’ may be available in the marketplace, businesses are still exposed to the risk of loss for the transfer of tangible property as a result of a fraudulent instruction,” Brian further states, “Given the rapid speed with which companies often move their inventory, component parts, and, other tangible property, the risk of acting on a fraudulent instruction is increasing.”
This expanded coverage and the recent introduction of the KnowBe4 risk management tools demonstrate Starr Companies’ commitment to addressing the evolving crime and fidelity exposures of companies.
About Starr Companies
Starr Companies (Starr) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C.V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. The following insurance company subsidiaries each have an A.M. Best rating of “A” (Excellent): Starr Indemnity & Liability Company, Starr Surplus Lines Insurance Company, Starr Syndicate Limited at Lloyd's of London, Starr International Insurance (Asia) Ltd., and Starr Insurance & Reinsurance Limited.
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