According to FBI data, you are more likely than not to fall victim to some form of employee dishonesty.
If you’re a small business owner and employer it is critical your business is protected from dishonest acts of your employees. Dishonest acts include fraud and theft of your client’s property and damage to your own property. Briefly described, commercial crime insurance covers employee dishonesty, computer and funds transfer fraud, forgery or altercation, money and auto securities, and theft of client’s property.
Let’s delve further:
- Employee dishonesty coverage provides for dishonest acts of your employees, this includes damage to business personal property and the theft of money and securities.
- Computer fraud and funds transfer fraud coverage provides for the loss of money, securities or other property relating to the use of a computer to fraudulently transfer those items out of your possession.
- Forgery or alteration coverage provides for losses resulting from the forgery or alteration of a check or similar financial instrument.
- Money and securities coverage provides for the loss of money and securities that are used in your business, your home or bank, including their theft or disappearance.
- Theft of client’s property provides coverage in the event of one of your employee’s stealing your client’s money, securities or other property at their premises.
Here are a couple of interesting articles relating to this topic.