You may ask the question, what is employee dishonesty coverage? It is an act of deceit by an employee.

Most business carry insurance on their business personal property, but one of the exclusions under this coverage is for employee dishonesty. Unfortunately, this coverage is often over-looked. Many employers are victimized as they feel it will never happen to them. In fact, most employee theft losses are caused by long-term, well-thought-of employees. The fact is that money, trade secrets and securities present attractive targets for theft, the best positioned thieves are the ones on your payroll.

This insurance protects your company from financial loss due to the fraudulent activities of an employee or even a group of employees. The loss can be the result of theft of money, securities or other property from your company. Employee dishonesty coverage is one of the key c overages provided in a commercial crime policy.

Background checks of the people you consider hiring should not be overlooked. While checking an applicant’s background may seem elementary, employers often overlook it. Almost every company needs employee theft coverage, and many property forms automatically include limited amount. Unfortunately, those limited amounts are often inadequate, and all employers should evaluate their exposures to determine what an appropriate amount would be.

When people become desperate, they may succumb to temptation and turn to crime. Employees can either make a business successful or drag it down. No company wants to believe that its workers would steal, but unfortunately some will. To make sure that you have adequate protection, you should work with a professional insurance agent and purchase employee dishonesty coverage. With the proper insurance, your company and its trustworthy employees will survive a large loss caused by the untrustworthy few.


Posted in: annapolis insurance agency, business insurance annapolis, business insurance policies, commercial insurance, employee dishonesty insurance, employee practices liability insurance, Technology

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