As a small business owner and employer, you want to be able to trust your employees. Unfortunately, sometimes you can’t. Employees steal from their employers, and even from customers of the business, at an alarming rate. However, you can protect yourself with commercial crime package
Crime-related losses are not typically covered by commercial property insurance. So, you may want to consider what commercial crime insurance offers:
Employee dishonesty coverage
Forgery or alteration coverage
Theft of money and securities coverage
Burglary or robbery coverage
Computer fraud coverage
What commercial crime insurance offers
Common commercial crime insurance endorsements
Employee Theft & Dishonesty
Protects you against dishonest acts committed by your employees, including theft of money or property.
Premises Theft & Robbery
Protects your property inside your premises while you’re open for business. Also covers you and your employees offsite.
Theft of Money & Securities
Protects you against the theft, disappearance or destruction of your money or securities inside your place of business.
Crime Prevention Tips
Make daily bank deposits, and vary your time and routes to and from the bank
Check daily cash register receipts against your deposits to help prevent the possibility of employee dishonesty
Immediately mark any checks received as “For Deposit Only”
Keep any rear doors locked from the outside at all times by installing panic locks. Padlocks should not be used to lock doors.
Keep a safe on site to store small amounts of cash, important documents or other valuable items. Change the safe’s combination periodically.
Consider installing security cameras throughout the property. All entranceways and cashier areas should be kept under surveillance.
Conduct background checks on applicants
Train employees on safe opening and closing procedures
Train employees on what they should do in case of robbery. Make it clear they should never endanger themselves by trying to protect money, property or other valuable items.
Related topics & resources
What is Cyber Insurance?
Handling business interuptions.