Embezzlement
The manager of property and casualty claims for a university embezzled almost $1 million over a four-year period. As risk manager, she was authorized to resolve and settle claims for such things as emotional distress and harassment. The risk manager forged claim documents and wrote checks payable to fictitious payees and to relatives, purporting to represent the settlement of the claims. In one instance, the risk manager wrote a check for $47,000 to a fictitious university employee for compensation for "emotional distress". In another instance, she wrote a check for $175,000 to settle a fake physical assault claim. In both instances, the checks were deposited into an account later traced to the risk manager. The risk manager spent the money on vacations, jewelry, and a sports car, among other things.

Stolen Check
The insured wrote a check payable to a vendor for $150,000 in satisfaction of a trade debt. Prior to receipt by the vendor, the check was stolen. The name of the payee was fraudulently changed, and the amount of the check was raised to $250,000. The check was deposited into an account in the name of the fictitious payee, and the check was paid by the insured's bank. When the vendor contacted the insured regarding its outstanding receivable, the loss was discovered. to

Credit Card Fraud
An employee uses a company credit card to purchase 35 expensive laptops. The employee resigns and the company cannot locate any of the laptops three month later. The total loss to the company was $122,500.

Stolen Supplies
A supply company for retail stores reported three instances in which product was missing. The retail store reported missing supplies to the supply company. After an investigation the driver and supervisor confessed to the three thefts. The total cost of the theft was approximately $25,000.

Fraudulent Documentation
A company receives a shipment of 75 new computers. The computers were signed for, but the documentation was creatively changed to 70 computers. The computers were stored in a secure room. After two months, the company figured out that they were missing 5 new computers. An investigation into the matter revealed the change in documentation. The total cost of the theft was approximately$25,000.