Weber Gallagher’s insurance practice group has extensive experience advising clients with regard to all aspects of first-party fidelity bond coverage, from the investigation of a potentially covered loss, to forensically analyzing a proof of loss to assess the viability of a claim, to formally litigating the scope of coverage afforded by a bond.
Weber Gallagher’s expertise in protecting a client’s rights is founded upon experience. Our attorneys assist local, national and international corporations, partnerships, and other businesses in obtaining the best fidelity bond coverage for their needs. Our attorneys are well-versed in business service, standard employee dishonesty, banking, cyber, and ERSIA bonds, to name a few.
Since fidelity bond losses can be factually complex and the use of sophisticated electronic gambits has become common place, our attorneys work closely with clients to identify coverage issues, to unearth and analyze facts, and to develop a robust strategy to help limit any potential client exposure. Moreover, our attorneys are able to quickly identify when an expert is warranted and can liaise with experts in multiple fields, such as forensic accounting, cyber security, or institutional trading. Expediency is paramount when identifying and overcoming issues attendant to a first-party loss.
Weber Gallagher has counseled businesses in the following areas:
- Identifying and reporting a loss;
- Mitigating a loss; and
- Adequately proving a loss.
In addition to advising businesses, Weber Gallagher works with insurance companies on developing fidelity bonds, defending fidelity bonds, and investigating claimed fidelity losses. Weber Gallagher advises insurers on terms of coverage, creating forms, claims handling and evaluating of proof of loss. We have been instrumental in devising coverage resolutions to assist underwriters negotiating with investment houses, institutional traders, and insurers. Weber Gallagher has counseled insurers on a myriad of issues, for instance:
- The manifest intent and financial benefit aspect of an employee theft;
- When the discovery of a loss has occurred;
- What constitutes covered property; and
- Distinguishing consequential from direct losses.
Recognizing the imminent risk that threats to cyber security create to businesses and insurers, Weber Gallagher has actively pursued a larger role in the field of cyber insurance. Our attorneys advise on many aspects of employee electronic theft and assist in handling such claims.
Weber Gallagher’s attorneys participate in public panels and seminars, speaking about issues relating to commercial crime insurance, cyber insurance, and fidelity bonds and can also provide in-house training for insurance companies on particular issues relevant to first-party fidelity bonds.