iTOO Financial Lines & Crime Insurance
About Financial Lines & Crime Insurance
Businesses today operate in an increasingly complex landscape with complex legal regulations and financial requirements. Your business, through its regular operations, may face a range of liabilities that can involve significant financial and/or reputational damage. iTOO’s range of specialist financial & business crime insurance gives you comprehensive cover against these risks.
Who is it for?
Today’s economic climate sees Financial Institutions evolving to become more transparent, protecting shareholders as well as consumers, through increased legal regulation and financial best practice guidelines. As a company director or officer, when things go wrong there’s so much more than simply your position on the line.
What is covered?
Commercial Crime Insurance
iTOO’s Commercial Crime Insurance protects your business against the losses you may experience as a result of employee fraud, theft and dishonesty.
Directors & Officers Insurance
iTOO’s Directors & Officers insurance covers you when you may be held personally, jointly and severally liable for any loss, damages or costs sustained by your company because of your decisions and actions as a Director and/or Officer.
Employment Practice Liability Insurance
iTOO’s Employee Practices Liability protects your company and its Directors and Officers from claims made against the entity for any actual or alleged employment practice infringements in the workplace.
Financial Institutions Crime and Civil Liability Insurance
Today’s financial institutions are committed to protecting shareholders and consumers through increased legal regulation and financial best practices. iTOO’s specialist Financial Insurance covers you against financial crimes and civil liabilities you may face.
Trustee Liability Insurance
In the event of any actual or alleged wrongful acts, negligence and fraud by an officer of the Trust or Fund, iTOO’s Trustee Liability Insurance covers you for the legal liability and/or direct financial loss suffered.
Optional extras
- Unidentifiable employees
- Social engineering
- Trust services
- Inter-company liability
Who is iTOO?
iTOO operates as Hollard’s preferred underwriter of speciality products, acting as a niche home for entrepreneurs and start-ups, as well as larger companies and specialist UMAs. As a special risks insurance provider, iTOO’s understanding of their customers, their business and individual needs is what sets them apart, sharpens their expertise and broadens their service offering. They partner with over 650 brokers and are available nationwide and in selected African regions 24/7/365.
iTOO has technical expertise in each sphere of their insurance offering and they’re passionate about finding a way to solve any and every problem. They’re experts in what they do, so you can be an expert in what you do.
What iTOO does
iTOO finds or creates specialist insurance solutions that are individually tailored to solve problems that discerning clients may have. From cyber insurance to medical malpractice, drone insurance to commercial crime, ITOO uses knowledge from the hottest minds in that industry to ensure that no matter what your business does, the risks you may face are covered.
Why choose iTOO?
iTOO is continuously researching market developments to deliver the very best specialist products that our customers’ growing businesses need. iTOO is driven by a high-performance specialist team, experts in their respective fields.
How to take out a product policy
All iTOO business has to be done via independent brokers so please ask your broker to contact us if you would like to get a quote for your Events Liability cover.
If you do not have a broker and would like us to recommend possible FAIS-registered brokers trained in our products, please fill in your details on our Find a Broker page.
If you are a broker and would like more details about our cover, please contact one of our product experts.
Questions about Financial Lines and Crimes Insurance?
Call Jonathan Healy on
082 322 8239 or email
jonathanh@itoo.co.za
Call Vanessa Kohler on
087 703 1030 or email
vanessak@itoo.co.za
Call Claims on
086 100 4866 or email
itoonewclaims@itoo.co.za
Frequently asked
questions
How does third-party computer crime and cyber liability differ?
Cyber liability policies principally cover breaches resulting in theft of personal information or corruption of data and the consequential losses as a result of such. Third-party computer crime covers the direct financial loss as a result of access to an Insured computer system excluding consequential loss and access of confidential information.
What is social engineering?
Social engineering refers to a variety of techniques used to elicit information and trick individuals into voluntarily performing actions. Social engineering loss essentially refers to acts of fraud committed by means of a person deceiving or misleading an employee of the Insured through misrepresentation of a material fact that the employee has relied upon, believing it to be genuine and causing the transferring, paying or delivering of cash and/or other property.
What limit of indemnity should be purchased?
The limits of indemnity are combined limits across all insuring clauses and aggregated for total losses in the period of insurance. One needs to take into account the value of costs incurred in investigating a loss and defence costs incurred in defending allegations of wrongfulness aside from any damages award or claim that may be paid under the policy. The appropriate limit of indemnity will depend on a number of factors including the nature and size of the business, contracting limitations, and transaction values. Your broker will be best placed to advise on the most suitable limit of indemnity.
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