Employee Dishonesty – Review your controls & policies
According to the U.S. Chamber of Commerce, employees steal an estimated $30 billion to $100 billion per year from their employers. From inventory theft, to check forgery, to cash from the register, to embezzlement, to computer funds theft - there is no end to the creative ways a trusted employee may steal your money or merchandise. Sadly, even if you catch the thief, once the money is gone your chances of recovery are very remote.
Prevention is the only effective deterrent to employee dishonesty. Now is the time to review your personnel controls and policies, managerial controls, procedural controls, computer controls and how to detect employee dishonesty. American Insurance has a free outline for each of these controls on our website at Employee Dishonesty - Controls & Policies.
Small business owners are most vulnerable to financial loss due to employee theft. Many small business owners may have their cash, tools, equipment and inventory insured for theft by burglary and robbery but don’t realize they DON’T have coverage for an inside job committed by an employee. Every business with employees needs specific Employee Dishonesty coverage. Without Employee Dishonesty insurance, most businesses would suffer an unrecoverable financial loss. American Insurance can offer you a free review of your current business insurance to see if you have the coverage and limits you need for Employee Dishonesty. For more information contact the Sullivans & staff at American Insurance by calling 208-746-9646 or click www.Am-Ins.com/contact or text (208) 518-0823 to Request an Appointment today.