Pasadena Suffers $6 Mil. Crime Loss; Are Your Governmental Clients Covered?

This large crime loss caught our attention….

The City of Pasadena was embezzled out of more than $6 million through a scheme that continued for over a decade. The suspect is a former employee who, with two accomplices, allegedly siphoned money out of a utility fund via fraudulent invoices from four bogus vendors. The City Manager Michael Beck admitted that “this is a complete breakdown of our internal controls” since it was allowed to continue for so long without detection. (Click here for the full story in the San Jose Mercury News)
 
Ensuring that oversight and controls are up-to-date and embedded in organizational DNA is critical to avoiding these types of losses. However, for those times when breaches occur, make sure that your governmental clients are covered for their losses with Berkley Crime’s insurance products. 
 
Contact Berkley Crime today at 844-44-CRIME or one of our team listed below.

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Contact Berkley Crime

National Practice Leader
Sean Missal (860) 466-7377
[email protected]

East Regional Manager
Andrea Sullivan (860) 466-7373
[email protected]

Patricia Logan (212) 497-3708
[email protected]

Matt McNamara (212) 497-3707
[email protected]

Mid-West Regional Manager
Michael Beranek (501) 707-6548
[email protected]

Amanda VanCauwenberge
(312) 730-1101
[email protected]

Kyna Love (312) 705-1132
[email protected]

West Regional Manager
Jennifer Maggi (925) 472-8217
[email protected]

Steve Nguyen (925) 472-8233
[email protected]

P: 844.44.CRIME
[email protected]
www.berkleycrime.com

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Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: http://wrbc.info/Licensing/License.htm

 

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