ENCON Group Inc. Announces New Commercial Crime Insurance for Organizations in Canada

OTTAWA, ON – July 20, 2015 – ENCON Group Inc., a leading managing general agent in Canada, announced today the introduction of Commercial Crime Insurance, either by endorsement or on a monoline basis, to protect organizations from exposure to occupational fraud and theft.

“Fraud and theft in the workplace can lead to significant financial loss,” said Mark Reszel, Senior Vice-President, ENCON. “Many companies don’t realize that these types of crimes can be committed by individuals at every level of the organization and it’s often difficult to detect until the damage has been done.”

ENCON’s Commercial Crime Insurance offers a variety of limits based on the size and scope of the risk. Coverage can be added by endorsement to existing ENCON D&O policies or it can be offered on a monoline basis for all eligible organizations.

“Our philosophy at ENCON is to support organizations in Canada with insurance products that specifically address risk exposures found within the scope of commercial activities,” explained Reszel. “We believe that the introduction of crime insurance to our directors and officers product offering is a great fit that further strengthens our position in the specialty insurance marketplace.”

Sample Commercial Crime Target Classes

• • Retail operations, including grocers, supermarkets, specialty stores, department stores
  • Restaurants (all types, multi-location)
  • Hospitality risks (hotel/motel)
  • Inventory-intensive risks (all types)
  • Entertainment risks, including theatres, bowling alleys
  • Distribution/wholesale operations
  • Manufacturing risks
  • Government agencies (city, province, local agencies of all types)
  • Not-for-profit entities
  • Oil and gas, mining
  • Technology
  • Forestry
  • Professional services
  • Agriculture
  • Media
  • Contractors

 

Policy Highlights

• • Coverage for all full-time and part-time employees on a blanket basis
  • Worldwide territory
  • Minimum premium: $1,000
  • Participating Insurer: ACE INA Insurance (Canada), A.M.Best-rated A++

 

For more information about this coverage, please visit ENCON’s Commercial Crime Insurance page at www.encon.ca.

About ENCON Group Inc.

As a leading managing general agent in Canada, ENCON Group Inc. offers professional liability, commercial general liability, construction and environmental insurance, as well as group and retiree benefits programs for individuals, professionals, organizations and businesses, which are available through a national network of licensed insurance brokers and plan advisors. Learn more at: www.encon.ca.

Media Contact: Margaret Woodruff Marketing and Communications margaret.k.woodruff@encon.ca 905-755-2030 ext. 3043 1-877-732-2879

Business Contact: Chris McDonald, Assistant Vice-President Underwriting chris.r.mcdonald@encon.ca  613-786-2085 1-800-267-6684 ext. 2085