One day a client called me and asked, “Did I ever buy that employee dishonesty coverage you told me about?” Unfortunately I had to tell him no. My client ran a small wholesale business. He just found out that over a few years one employee had stolen about $500,000 from him with the help of his
Such scenarios unfortunately are common among small- and medium-sized businesses. The median loss suffered by businesses with fewer than 100 employees was $200,000, says a
Association of Certified Fraud Examiners
(ACFE). Check tampering and fraudulent billings were the most common small business fraud schemes.
All businesses need to be concerned with employee dishonesty. Because
losses are not typically covered by most
policies, or they include a low limit, most businesses are not covered properly when a loss occurs.
and we can help you determine the limit that is best for you at a price you can afford.