Fidelity bond

A fidelity insurance (VSV ) protects businesses from financial loss resulting from unlawful acts, committed by company employees or other trusted persons of the Company. These include fraud, embezzlement, theft, embezzlement, vandalism, sabotage or other intentional torts that are committed in accordance with § 823 BGB for compensation. Be Replaces usually both damages incurred by the company itself, as well as damages are caused to third parties. The fidelity insurance is credit insurance in a broader sense.

Problem

According to the police crime statistics, there came in 2006 in Germany to a total of more than 1 million cases of damage with a total loss amount of 4 billion euros. The Euler Hermes Credit Insurance estimates that 40% of them by employees of the companies concerned have caused. According to a survey by Ernst & Young, the ratio was even around 50 %.

Unreported

Many companies fear that disclosure of such misappropriations image damage. For this reason, a majority of the cases is not made public. The German insurance companies and consulting institutions shall estimate the number of unreported cases to about 50 %.

Reasons for embezzlement

According to estimates made by the Insurers increasing physical bottlenecks, and an increasing loss of values ​​to declining loyalty to the company. At the same time increasingly carry out restructuring, mergers, increasing anonymisation or lean management ( lean management ) for vulnerabilities that make the tort possible.