# Crime insurance in Estonia: real cover or an illusion?

URL: https://insurancelawestonia.ee/blog/2026-08-18-crime-insurance-cover-or-illusion/
Author: Dr Olavi-Jüri Luik, Partner, Head of Insurance Law, attorney at law (Advokaadibüroo WIDEN OÜ)
Published: 2026-08-18
Last updated: 2026-11-04

> Luik and Alamets, Äripäev 18 Aug 2026: crime insurance can cover fraud and embezzlement losses, but cover depends on wording and management diligence.

*Authors: Olavi-Jüri Luik and Martin Alamets*

> The article was published in Äripäev on 18 August 2026 (in Estonian): ["Advokaadid: miljonikahju järel selgub, kas ettevõte ostis kindlustuse või pelga illusiooni"](https://www.aripaev.ee/arvamused/2026/08/18/advokaadid-miljonikahju-jarel-selgub-kas-ettevote-ostis-kindlustuse-voi-pelga-illusiooni) ("Lawyers: after a million-euro loss it turns out whether the company bought insurance or a mere illusion"). The full text is for Äripäev subscribers; below is a short summary of its main message.

*Date note: the date of this post (18 August 2026) is the date of the original publication. This English version was written for this website in 2026.*

## The main message

In an opinion piece in Äripäev, WIDEN attorneys Olavi-Jüri Luik and Martin Alamets discuss crime (fidelity) insurance, which protects a company against losses from fraud, embezzlement and social engineering such as fake payment instructions or "CEO fraud". Their central point is that the real scope of cover only becomes visible after a loss and depends on the exact policy wording, so the terms should be assessed before a loss, not after it.

The article draws on international and Estonian cases in which losses ran into millions of euros. The authors stress that the greatest fraud risk often comes from inside the company and that insurance does not replace management's own diligence and internal controls.

## Related pages

- [Crime and fidelity claims in Estonia](https://insurancelawestonia.ee/guides/crime-fidelity-claims-estonia)
- [Crime and fidelity investigations for insurers](https://insurancelawestonia.ee/services-for-insurers/crime-and-fidelity-investigations)