AmTrust Exec unveils commercial crime product

AmTrust Exec, a division of New York-based AmTrust Financial Services Inc., said Tuesday it has introduced a commercial crime product for medium- and large-sized businesses.

AmTrust Exec said in a statement the monoline commercial crime product covers losses for employee and third-party theft of money, securities and other property, including employee theft, that is without manifest intent; computer and electronic funds transfer fraud; fraudulent impersonation and clients’ property.

There is $5 million in primary limits available, and up to $10 million in excess, according to a spokeswoman. The excess policy is not yet filed, but is in the pipeline.

The statement said AmTrust Exec was formed in January when AmTrust’s CorePointe Insurance Agency acquired Itasca, Illinois-based Euclid Executive Liability Managers LLC.

Melissa Schwartz joined AmTrust in January from Euclid Exec to lead the commercial crime product offering, the statement said.