If you are not yet convinced that your business needs Fidelity & Crime Insurance protection here are some statistics on
• Fraud typically occurs for 3 years before detection
• Before committing a crime, 60% of offenders are employed five years or more by the business they defrauded.
• The average loss from employee fraud is $140,000, with many crimes totaling more than $1 million.
What Does Fidelity & Crime Insurance Cover?
many types of Fidelity & Crime Insurance coverages, simply because there are so many types of crime against businesses and organizations. Also, because risks and exposures to loss through criminal acts can vary
immensely from business to business insurers prefer to insure certain types of crime insurance loss under separate Commercial Fidelity & Crime Insurance forms. These forms allow businesses to cover crime
losses that are not insured under other insurance policies.
Below is a list of many of the crimes covered by various forms of Fidelity & Crime Insurance:
(Consult with your Alliance Commercial Insurance Specialist to determine the specific coverages of your policy)
• Employee Theft
• Employee Theft of client/customers funds or property
• On premises theft by a third party.
• Off premises theft by a third party.
• Forgery or Alteration
• Money Orders and Counterfeit Money Fraud
• Computer Fraud
• Funds Transfer Fraud
• Credit Card Fraud
How Can I Prevent Employee Theft at my Business?
businesses in the New Orleans area are familiar with ways to help prevent robbery and burglary, most businesses are lax when it comes to preventing employee theft.
Here are a few helpful prevention methods to consider:
• Run background checks on every new employee as part of your effort to hire honest employees.
• Know your employees.
• Supervise employees closely.
• Use purchase orders.
• Control cash receipts.
• Use informal audits.
• Install computer security measures.
• Track your business checks.
• Manage inventory carefully.
• Use security systems.
• Review internal controls regularly.
No prevention method is foolproof, so most of all...
Speak with an Alliance Commercial Insurance Specialist
about protecting your business with Fidelity & Crime Insurance.