Insurance Success Tip #6 – Buy Employee Dishonesty Insurance

Half of all theft in the US is perpetrated by employees. Don't tell me how honest your employees are. Everyone who has been hurt by embezzlement said the same thing the week before they found that they had been taken.$250,000 of coverage is a minimum for any business. More if your exposures warrant. The coverage is usually cheap too. … [Read more...]

Worker Fraud on the Uptick

The June issue of Best Review includes a brief piece on the observation by fraud examiners that worker fraud is increasing. The article admits that this may be a "chicken and egg thing" with the current economy - are people stealing because times are bad or are employers being more diligent in the bad economy looking for problems? In any … [Read more...]

Employee Dishonesty

It's been a while since I ranted on this... How much coverage do you have for employee dishonesty?   Employee theft accounts for a huge percentage of business theft losses.  Yet, business owners have a mental block about buying enough coverage.   My readers seem to like rules.  Here goes. Rule 1: $100,000 of coverage is a minimum for any … [Read more...]

Preventing Employee Theft

There are four parts to employee theft prevention: -Hire only honest people -Create an environment that doesn't tolerate dishonesty -Build systems that enable detection -Buy employee dishonesty insurance The first seems silly. However, most embezzlers have some history of dishonesty. Criminal background checks, drug testing, and resume/reference … [Read more...]

Why Employees Steal

Someone just like this woman might be working in your office right now - GoTo … [Read more...]

Employees Who Steal

Interesting article from the website on the psychology of employees who steal. … [Read more...]

Employee Theft Blog

An employee theft insurance claim is a huge hit to most business people. Not only is there the financial consequences, there is the emotional toll of the violation of trust. Check out the links below for stories of the crimes and hints to prevent a loss. … [Read more...]

Prevent Employee Theft

Every day, it seems, there is another story in the news about an employee stealing. Three simple steps can prevent employee theft incidents: --Immediately mark all customer payment checks "for-deposit only" --A person not authorized to sign checks reconciles all bank accounts --Conduct criminal background checks on all new employees … [Read more...]