Most employees and interns are honest, but just one amoral individual can cause millions of dollars in damages to your business. For this reason, it is crucial to have a crime policy for your company. Here are a few scenarios that this type of insurance covers.
Cash Theft
An employee who feels poorly compensated my feel justified in stealing cash intended for the business. This may occur one time or thousands, and can cost the business significantly.
Property Destruction
Disgruntled or disappointed employees may destroy company property including computers, tools, vehicles, and heavy machinery. They may immediately regret their actions, but this feeling does not erase the damages or the financial costs. A crime policy can cover the costs of repairing or replacing these items.
Computer Fraud
An employee who faces financial challenges may experience a lapse in judgment and commit fraud using company accounts or computers. This type of fraud could take the form of a fake invoice, a copied bank account number, or a digitally altered electronic check. An insurance policy can pay for these losses.
Employee theft and destruction of company property can cost a business owner massive amounts of money and time. A crime policy can help to reduce or eliminate the financial costs of these acts.
