As much as employers do not like this fact, employees are stealing billions of dollars from their workplaces every year in the United States. There are security precautions an employer can put in place, but for a dishonest and determined employee, almost nothing short of dismissal will stop that employee from committing acts of theft, fraud, and dishonesty at work. That’s why most companies now insure themselves against this threat by having dishonesty bond protection.

A dishonesty bond from www.bfbond.com may not prevent theft from occurring, but it can offer a degree of protection to employers from deliberate acts of dishonesty including the theft of money, assets, property, and information.

Who can be covered under this form of insurance?

• all current or former employees
• partners
• members
• directors
• volunteers
• trustees
• seasonal employees
• temporary persons

The amount of coverage necessary under this type of surety bond depends on the size and scope of the business, as well as the level of risk that the company or business is exposed to. A small operation with few employees will require a minimum level of coverage, while larger corporations may require extensive liability coverage in order to protect the enterprise against the range of threats and the myriad of opportunities that employees may have to carry out dishonest or illegal acts against the interests of the employer.

There are a number of common exclusions to the liability coverage of a dishonesty bond. They include:  

• Accounting errors, omissions, or mistakes
• Loss of potential income
• Vandalism
• Government actions
• Restatement of a profit and lost statement

Dishonesty insurance is both a necessity and a sad commentary on today’s workplace ethics. It makes employers realize that they cannot fully trust all of their employees all of the time. This makes hiring the right people so important. If you get the right people with the right principles and work ethics, then there is a greater chance they will not steal from you or your company. This is also why a company must develop a strict no theft policy that must be rigidly enforced by discipline and dismissal and sends a message to all employees that honesty is not only the best policy, in this business it is the only policy.

At Bernard Fleischer & Sons, we can provide you and your business with the insurance expertise you need to make sure your business is prepared to deal with theft other potential employee issues.  Contact us at www.bfbond.com to learn more!

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