One in four employee theft claims is committed by an employee who has been with the company for more than ten years. You know and trust the people who work for you, but obviously, that trust may be misplaced. According to the National White Collar Crime Center, recent recessions have recorded significant increases of arrests. How can you protect your profitability from the impact of employee crime? Well, you can’t be there 24/7 protecting your store or business so consider the protection of fidelity and crime insurance.
No one knows what the median loss from employee fraud is but most would agree that $175,000 is a fair estimate. Interestingly, most employee crime happens over at least a year and is often discovered accidentally; it seems our best internal controls are not enough. With fidelity and crime coverage you can provide a very important protection for your business.
Fidelity and crime insurance provides an important backstop against the actions of a thieving employee. Many small business owners consider their employees to be like family and perhaps it is for this reason that small businesses are more vulnerable to loss from employee crime. With this coverage, your company’s assets are protected.
Stand alone policies are designed to cover employee thefts, robbery and safe burglaries. Coverage can also include:
- Forgery or document alteration
- Funds transfer fraud
- Computer fraud
- Credit card fraud
- Money order and counterfeit fraud
Having fidelity and crime insurance in place can provide you with peace of mind. Contact Premiere Agency Network for more information by calling 888-604-4112 or fill out the form on this page and one of our representatives will be in touch with you shortly to start the quote process.