A Delaware employer may be able to obtain employee dishonesty insurance. This type of insurance covers the costs of theft or other forms of employee fraud. The amount of coverage varies depending on the type of policy. Some companies offer more generous coverage than others, so it is a good idea to shop around before buying. In addition to Delaware employee dishonesty insurance, you should consider buying additional coverage from your provider to cover any gaps.
RSUI Indemnity Company
Dole v. RSUI Indemnity Company: Does a D&O policy protect you from fraudulent activities? The answer depends on the policy. The RSUI D&O policy carries a Fraud/Profit Exclusion, which bars insurance coverage for willful acts. However, Dole argued that the law of Delaware should apply because it is incorporated in Delaware.
In recent years, employee dishonesty insurance lawsuits have become increasingly common in the public arena, and the Dole case is no exception. In this case, the D&O insurer sought to limit its liability by excluding fraud from the coverage. In fact, this coverage could be more common in the future. The case focuses on an allegation of fraud by Dole’s directors and officers. However, there are several other potential causes of dishonesty insurance claims.
The Dole case illustrates why D&O coverage cannot protect an employer against fraud and dishonesty. RSUI, an insurance company, sued Dole in state court in Delaware for an indemnity policy. The defendants, however, were unable to prove that Murdock committed fraud. This is because Murdock had settled its fraud-based claims prior to the final adjudication. Fortunately, the defendants’ insurers were able to prove their defenses to the claims in the trial court. Consequently, Dole was able to successfully enjoin RSUI from paying any damages to Dole.
Commercial auto insurance
If you own a business in Delaware, you probably need to purchase a business auto insurance policy. Whether you drive company vehicles for personal use or rent vehicles for your customers, you will need this type of insurance. It will cover any damages to your vehicles and any bodily injury or medical costs your drivers incur. Fortunately, Delaware provides several options to suit your needs. Here are a few. Listed below are some of the main types of insurance coverage available.
Employee dishonesty insurance policies can cover the theft and fraudulent activities of your employees, including stealing client property. However, to be eligible for the coverage, an employee must be a direct employee of the insured company, have a contract with the client, and be under the control of the employee at the time of the theft. In addition, employee dishonesty insurance policies may also cover direct financial losses due to computer hacking or fraudulent transfers of funds by another party. The terms of each policy vary, so make sure to read the details before purchasing.
Depending on your company’s needs, Delaware employee dishonesty insurance requirements may be in place. In order to comply with the law, you need to have insurance that covers losses due to employee dishonesty. There are many different kinds of policies that you can choose from, including fidelity, fraud, and general liability. If you are interested in learning more, contact a broker today. They will be happy to help you find the best policy for your company.
Insurers that provide D&O insurance for Delaware corporations may choose to exclude fraud as a covered loss. Fraud is a serious charge that can result in liability of $148 million, as in the case of the Dole officers who committed fraud. While carriers may refuse to issue Delaware D&O insurance policies without an exclusion, it is possible that fraud coverage could be expanded in the future. In the meantime, D&O insurance companies may consider including fraud exclusions in their policies.
Requirements for a claim
In Delaware, employers must carry worker’s compensation insurance. Non-compliance can result in back-charged premiums, penalties, and lawsuits. For example, a Nascar racing company is likely to pay the highest workers’ compensation premiums. This is because high-risk industries are more likely to result in expensive or even fatal claims. Employers in such high-risk industries should ensure that they carry workers’ compensation insurance.