4 Scenarios in Which a Fidelity Bond Crime Policy Can Protect You

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Most employees are honest, but just one amoral employee can bring down your entire business due to the associated monetary losses. For this reason, it is critical to purchase a fidelity bond crime policy so you are protected. Here are a few things that your policy will protect you from:

Destruction of Property

A disgruntled employee – especially those recently fired – may take their anger out on whatever is closest to them, including computers, food products, or vehicles. Even morally-minded employees may experience a lapse in judgment which costs your business dearly.

Theft of Property

An employee who believes they are underpaid may decide to take some of your business’ products home to sell online or give to friends. In businesses that deal with a high volume of cash, such as restaurants and bars, employees may pocket money intended for the register.

Credit Card Forgery

Amoral employees may alter credit card slips to fraudulently increase tips left by customers or to initiate charges for services or goods that were never received.

Computer Fraud

A dishonest employee may create fake invoices for customers and pocket the money received. Dishonest employees in payroll and accounting may alter paychecks in order to award themselves or their friends money that they did not earn.

Just because you like and trust your current employees, doesn’t mean that there won’t be a day where you accidentally hire an amoral worker. Make sure that you’re covered in this case.

Categories: Insurance
This post was written by , posted on February 16, 2022 Wednesday at 5:36 pm