Although there is an element of Theft by Employee (TBE) protection in your cover with UMAL, it may be appropriate for you to have a full Crime/Fidelity policy which can be arranged by HMSL with specialist Insurers.
Main Features of Cover
Employee dishonesty provides cover for business assets against employee fraud and dishonesty regardless of whether the employee is acting alone or in collusion with others
No requirement to identify employees provided that there is reasonable evidence that the fraud or dishonesty was caused by an employee
Extends to cover losses from any employee pension or benefit fund set up by the Insured
Can provide cover for all employees, including any natural person under a work experience or similar scheme, temporary agency staff and those hired from another employer
Extension to cover investigation costs to establish the extent of any covered loss
Extension to cover the costs of renting temporary replacement equipment and temporary premises, along with the costs of additional external workforce following a loss
Can provide cover for any contractual penalty assumed by and enforced against you resulting directly from a covered loss
Can extend to cover the costs of re-writing software programs following fraudulent use and the reconstitution of documents
Run off cover provided for ceased subsidiary companies
