3 Types of Crime Insurance Claims

Crime Insurance Claims

Hiring a new employee is both an exciting and nerve-wracking task. Although you hope to find someone with integrity who will catapult your company to new heights, that is not always the reality. As technology advances, it’s becoming increasingly easier for employees to commit crimes in the workplace. Being aware of potential crimes is the first step toward ensuring you and your company remain protected from internal threats.

1. Theft of Funds/Property

The most common workplace crime involves an employee stealing money or property from an employer. This ranges from petty theft of cash register funds or small property to embezzling tens of thousands of dollars. Though coverage varies, many insurance companies will protect against this occurrence both inside and outside of the premises of the company.

2. Forgery and Alteration

Employees are not always who they claim to be. Some employees forge checks, money orders, or other important documents. Because of its seeming legitimacy, alterations are often harder to detect and fly under the radar for long enough to cause irreparable damage to your company.

3. Fraud

Though fraud has existed forever, employees are now becoming bolder and more creative with the ways in which they commit fraud. Technology has made it much easier for someone to hack into your company’s records, steal crucial data, or redirect funds into their own account.

Unfortunately, there are a number of ways employees can take advantage of you and your business. There are also, however, ways to help ensure that you are covered if you find yourself the victim of employee theft and dishonesty. Crime insurance claims can protect your company from the chaos that ensues when an employee does you wrong.