Commercial Crime Coverage
Many business owners don’t like to think about the idea of employee theft, but this can leave their businesses under-insured or worse – completely uninsured.
According to the US Chamber of Commerce, 75% of employees steal from their workplace and 30 percent of business failures are directly related to employee theft.
Even though there is no way to eliminate the risk of employee theft, there are ways to help minimize it. Employee hiring, training and retention policies are a good place to start. Minimizing opportunity, proper supervision, checks & balances in your accounting processes, and reducing the risk of ‘rationalization’ theft (an employee who thinks they are underpaid, and/or overworked and feels the company owes them) by making the employee feel vested in the company, are great risk management tools. Understanding the risk factors that lead to employee theft is your best defense in preventing it.
Having the proper insurance coverage in place is VITAL in protecting your business and your mission. Contact Hawley & Associates today for more information on Commercial Crime Coverage for your organization.
Crime coverage can cover:
Employee DishonestyTheft of moneyComputer FraudBurglary or RobberyForgery or AlternationClient Property