Protecting Your Strata Company Against Fraud and Dishonesty
Fidelity guarantee insurance covers your strata company if it falls victim to internal fraud or theft. Every year, companies in Australia lose money due to dishonest employees and company members. Among regular businesses, strata companies are also susceptible to this type of fraud. From falsifying financial statements, to misusing company money, and pocketing revenue for themselves, member dishonesty can range from subtle misuse to outright theft.
Owning a fidelity guarantee policy can protect your strata company from financial loss due to intentionally dishonest acts by its members. Whether you’re self-managing in a small to medium strata company or managed by a strata management firm, fidelity guarantee insurance keeps your strata company covered.
Key Factors to Consider When Deciding on Fidelity Guarantee Insurance
When considering fidelity guarantee insurance, it’s crucial to assess the factors that could impact the financial security and integrity of your strata company. Here are four important security and integrity factors to consider:
- How experienced the employees managing the strata funds are.
- Whether you have an external account team auditing your finances.
- How strict and reliable your internal systems and checks are.
- How much money your strata group is managing.
Our team of strata insurance specialists can assist you with these considerations, and can also help you identify additional risks that may exist within your strata that might necessitate fidelity guarantee insurance.
Contact Our Insurance Specialists For Assistance and a Quote on Fidelity Guarantee Insurance
With over 60 years of combined strata insurance experience, our specialised team can help you find the right fidelity guarantee policy for your strata company. Get in touch with us for a quote and transparent information about our insurance solutions.
