Business Fraud Insurance

Allianz Trade's Business Fraud Insurance protects your business against financial losses from fraudulent or

deliberate unlawful actions of staff, contractors and criminals.

Business Fraud Insurance is an essential component of a comprehensive risk management strategy, complementing an organization's efforts to mitigate the effects of fraud. It covers financial losses due to fraud and provides post-incident support, ensuring financial stability and allowing your business to focus confidently on core operations.
  • Trusted safeguard: Protects against direct financial losses arising from insider fraud, as well as certain external threats, such as fraud involving the use of false identities.
  • Associated costs covered: Costs such as legal expenses, costs for mitigating reputational damage, and contractual penalties are covered.
  • Retroactive: Fraudulent acts that occurred before cover started but were discovered whilst insured are covered.

Benefit from broad coverage, encompassing both direct losses and associated costs to maintain your business's financial stability.

Cover is tailored to your company's size, budget, and risks, providing the right level of protection whether you're a small business or a large corporation.

Supported by our company's century-long history of protecting against economic crime, our team of legal professionals is dedicated exclusively to handling business fraud claims.

  • Companies in the Netherlands and Belgium are increasingly confronted with fraud and scams. 78% of companies say they have had to deal with them in the last two years.
  • However, most frauds are committed by internal employees. The number of companies losing more than €100,000 to internal fraud has risen to 39%, but this figure was still below 25% in 2024. These are the findings of a survey of Benelux companies conducted by Allianz Trade in 2025.
  • Cyber insurance does not protect companies against digital fraud. Damage caused by a false invoice sent by e-mail by a fraudster, for example, is not covered by cyber insurance, but fraud insurance is.

Proactive measures are crucial in addressing economic crime. Therefore, we provide your organization with the necessary expertise to both prevent and detect fraudulent activities.

  • Prevention: Equip your organization with the know-how to prevent and identify fraudulent acts.
  • Crisis support: Access guidance from specialists to manage the business impact of fraud.
  • Indemnification: Receive compensation for direct financial losses and other costs incurred.

Internal fraud is committed by one or more of your employees or contractors. Since many business procedures rely on trust and internal control systems might not be strong enough, internal fraud is common and can significantly impact the financial health and reputation of your company.

Our coverage includes for example: 

  • Monetary or physical theft
  • Embezzlement
  • Sabotage and property damage
  • Disclosure of trade secrets

External fraud involves outsiders, including fraudsters using sophisticated tactics like social engineering to impersonate business partners or managers and fraudulently obtain funds or goods. Techniques include identity theft, deepfakes, voice and signature imitation, fake emails and IT-system intrusion.

Our coverage includes for example:

  • CEO Fraud (also named Fake President Fraud)
  • Payment Diversion
  • Fake Buyer Fraud
  • Certain Forms of theft

Not only can direct financial losses jeopardize your company's financial health, but the associated costs can also be substantial and extend over time. Our product covers a wide range of costs related to a business fraud case, providing support when you need it most.

Our coverage includes for example:

  • Contractual penalties
  • Costs for mitigating reputational damage
  • Business operation continuation costs (for 6 months).
  • Certain ascertainment costs (up to 50% of the sum insured)

Do you want more information about our Business Fraud Insurance? Fill out the form and we will contact you as soon as possible.

Our business fraud insurance covers a broad range of individuals working in or for your organization and its subsidiaries. This includes permanent and temporary employees, lawyers, tax advisers, accountants, and even board members with a stake not exceeding 30%.
The advantage from Allianz Trade: Cover can also apply in the case of unidentified perpetrators – i.e., when it is not possible to identify who caused a loss.
Business fraud can affect any company, making this insurance advisable for all businesses, regardless of size or industry. Companies may believe they have sufficient security and compliance systems in place or that their employees would not commit fraud, but our experience and data show that any company can be impacted by internal or external business fraud, with potentially high costs, regardless of size.
A study by ACFE¹ indicates that a typical occupational fraud case lasts 12 months before detection, a trend reflected in our internal data. Unlimited retroactive cover is particularly beneficial if a business fraud case is already occurring without your knowledge. If discovered after subscribing to our insurance, we can cover the financial losses.
¹Occupational Fraud 2024, A Report To The Nations - ACFE
There are several ways to mitigate business fraud, with key pillars being a positive corporate culture that fosters trust, along with necessary precautions and controls, such as security and compliance systems and employee training. While these are essential, business fraud insurance is a crucial component of a comprehensive risk management strategy, providing coverage when other methods fail to prevent incidents.
The cost of business fraud insurance depends on various internal and external factors related to the company. Our solutions ensure pricing is tailored to the company's size and needs. Contact our experts for a precise estimate of the insurance cost for your company.
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