Employee Dishonesty Coverage

One train of thought with the upturn in the economy is that employees may be emboldened to steal from their employers, and studies show that these losses total approximately $400 billion annually in the US. These claims tend not to make big headlines, but they can have a serious impact on a company’s bottom line. There are many ways in which an employee can steal from his or her employer. Here are some examples that apply to healthcare entities: • Larceny • Skimming • Billing schemes Since there’s no requirement that a company buy crime insurance, it’s often overlooked. And because there is no requirement, there’s little guidance on determining the appropriate limit of insurance. Here are some websites we share with clients to provide basic information that will educate them on the coverage, as well as offer some risk management tips. Employee Theft https://www.societyinsurance.com/assets/1/Page/EmployeeDishonesty_OnPremise_NovDec13_p25.pdf https://www.brighthub.com/office/entrepreneurs/articles/66245.aspx http://www.mcgowanprofessional.com/employee-dishonesty/employee-dishonesty-FAQ.html