Business owners spend a lot of time thinking about how to protect their assets. While a good portion of planning revolves around external theft, there are countless scenarios where the culprits are people closely associated with the company. When members of your team are stealing from you, for example, it can lead to a disastrous situation for you and your business. Thankfully, taking out appropriate insurance can help your company stay ahead. Use these tips to determine what plan is best for you.
Understanding Commercial Crime Coverage
When it comes to appropriate commercial crime coverage, there are a few basic points to think over. For one, most policies will include a clause for employee honesty. When employees steal and are caught in the act or there is evidence enough to prove the case, then this type of protection guarantees that losses the company was unaware of will be reimbursed or covered in some capacity. The same is true in cases of forgery, or when an employee claims to be another representative of the company in order to gain information. Other coverage areas can include:
- Fraud and cybercrimes
- Internal theft of funds
- Outright robbery
Internal Threats Matter
By paying attention to the internal threats your business faces on a routine basis, you can do your part to stay protected at all times. Review what makes for a good policy and see how you can stay safe.