AmTrust Exec, a division of AmTrust Financial Services, Inc. offering a full suite of management liability products, today announced that it has introduced a new Commercial Crime product to provide coverage for a wide range of medium- and large-sized businesses. Melissa Schwartz joined AmTrust in January 2020 from Euclid Exec to lead their Commercial Crime product offering. Previously, Schwartz was the Fidelity and Crime Product Leader with Liberty International Underwriters.
The monoline Commercial Crime product covers loss from employee and third-party theft of money, securities and other property, including:
- Employee Theft (without manifest intent)
- Computer and Electronic Funds Transfer Fraud
- Fraudulent Impersonation
- Clients’ Property
AmTrust Exec is a new division that was formed in January 2020 when AmTrust’s Corepointe Insurance Agency acquired Itasca, Illinois-based Euclid Executive Liability Managers, LLC. The division offers products such as Directors & Officers Liability, Employment Practices Liability and more, including the new Commercial Crime policy.
AmTrust Exec Senior Vice President James Seymour, formerly Principal of Euclid, said, “In this new age of cybercrime, we are finding that businesses are facing never-before-seen threats as criminals find ways to impersonate employees electronically and hack into accounting systems to misdirect funds. This new product is designed to protect against these kinds of sophisticated new schemes, as well as simple petty theft.”
AmTrust Exec provides coverage for a wide range of sectors including Manufacturing, Non-Profit, Oil & Gas, Retail, and Telecommunications.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers’ compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage. For more information about AmTrust, visit www.amtrustfinancial.com.