What is Employee Dishonesty Insurance?
Business owners need to consider and be prepared for the financial and other impacts of employee theft, fraud, and other dishonest actions.
Employee dishonesty insurance helps mitigate these risks by compensating business owners for employee actions that may cause physical or financial harm to the business.
Coverage may protect against theft, financial forgeries and alterations, credit card fraud, cybercrimes, loss of business property, embezzlement, and unauthorized money transfers.
The policies also have exclusions that are important to understand.
Along with full- and part-time workers, a policy can also cover temporary employees, seasonal laborers, contractors, volunteers, board members, and trustees.
Benefits of Employee Dishonesty Insurance
Even when a business makes the best effort to take precautions against hiring an untrustworthy employee, surprises do occur. An employee’s dishonest actions can cause harm to a business’s brand and reputation.
An employee dishonesty insurance policy can provide the financial means to recover from damages.
We can also help you understand other crime-related policy types, including coverage for cyber exposures that all businesses, government entities, and non-profits have.