Economic pressures can cause some people to become dishonest employees. Employees may revert to dishonest acts for many sufficient reasons including not having sufficient reasons income to support their lifestyles. Crime coverage can be cost a little over $300 for up to $100,000 in coverage (depending on the size and type of business activity and other underwriting considerations.)
Employees do not need to have access to cash to steal from you. While employee theft often involves cash, other items of value may be stolen including office machines, vault securities, or warehouse merchandise. These losses involving equipment, supplies, or merchandise can add up to thousands of dollars over a relatively short time. Can you business afford these losses?
Crime Coverage will help you secure your business by providing protection for:
- Employee Theft
- Depositors Forgery or Altercation
- Theft, Disappearance and Destruction of Money, Securities and Other Property (Inside and Outside)
- Computer Fraud
- Funds Transfer Fraud
- Money Orders and Counterfeit Currency
- ERISA Plans
- Credit, Debit, or Charge Card Forgery
- Robbery and Safe Burglary Coverage
Any product can be valuable enough to steal when a sufficient quantity can be taken over an extended period. It is not uncommon for an ongoing theft to span three years or more without detection. Don’t be shocked by a fidelity loss that could seriously harm the future of your business. Give us a call at 850 769 2225 to learn more about how we can help you to obtain this valuable insurance coverage.
We give you our best professional insurance advice and council.
Actual Crime Coverage Loss Examples
Theft of Money – The Treasurer of a Senior Living Condominium Association, an 88 year old trusted resident of the community, embezzled over $300,000 of the association fees over a 6 year period.
Theft of Money – Bookkeeper embezzled over $300,000 from Medical Orthopedic Practice
Forgery – An officer of a Townhome Association failed to remove the Pool Management Company from the payroll at the end of the summer season when the services were no longer needed. A board member continued to write checks to the Pool Management Company and forged signatures and cashed the checks herself. The new Treasurer noticed the discrepancy in the balance sheet and the fraud was detected.