Nonprofit Risks: The Need for Crime and Fidelity Insurance

Embezzlement and theft are common crimes among businesses of all types. However, there are other types of white-collar crime that often fly under the radar, adversely affecting all types of industries. As these crimes have the ability to wreak havoc on a business and cause financial ruin, ensure your clients are secured with a comprehensive and customized Nonprofit Crime Insurance policy.

Environmental schemes.

Small Business Trends states that these involve fraudulent practices by individuals, corporations, organizations, and even governments that concern the protection or management of the environment. Especially as it relates to nonprofits, these schemes can misrepresent emissions or the cause of the organization in order to gain more profits.

Pigeon drop.

This crime occurs when a “pigeon” or a “mark” is offered large sums of money in exchange for an upfront charge. When the con artist has collected the money, they disappear, often targeting senior citizens who are extremely wealthy with a disguise of supporting a good cause or an investment opportunity.

Kickbacks.

When two or more parties agreed to be paid upon a quid pro quo basis in regards to a previously agreed upon scheme. The terms and money is agreed upon ahead of time, and money is dispersed equally among the perpetrators.

At Domenick & Associates, we have a unique understanding of the nonprofit sector and how to properly secure your clients’ operation. From personal and advertising protection to crime coverage, we offer a range of products that are necessary for their success and longevity. For more information about our products, contact our experts today at (855) 745-3636.

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