In the case of first party insurance, the insured company and beneficiary are considered together, i.e. the insurer processes the immediate damages directly with the policyholder.
Almost two-thirds (63 percent) of companies affected by white collar crime in the last two years categorised the crime as theft or embezzlement. 54 percent of the companies affected categorised the crime as fraud and breach of trust. In addition, another important market for the future is starting to grow up around cyber insurance. This involves an all-risks policy that secures both first party claims and third party claims resulting from hacking attacks and data loss.
FINLEX offers the following insurance products in this context, although cyber insurance should be categorised as a mix of first party and third party liability insurance due to the comprehensive nature of the cover involved.