Making sure you have adequate employee theft crime coverage is important because too often employee theft starts out small but can be ongoing for years with the cost of those damages becoming significant. Coverage protects against organizations from loss of money, securities and other property.
Why Is Proper Employee Theft Crime Coverage Important?
While surveillance systems, automated POS systems, etc help reduce the amount of theft, preventing all theft is very difficult. A lot of times theft starts out small but can also be ongoing and lead to significant damages down the road.
Common Ways Employees Steal From Their Work Environment
Deleting food or alcohol items on a ticket and keeping the difference
Over serving customers alcohol
Stealing bottles of liquor, food, and other equipment
Examples of Real Claims We’ve Dealt With
An employee not ringing up drinks for cash paying customers and keeping the difference
A restaurant’s bookkeeper who had been an excellent employee for years and was considered a family friend. The employee was found to have been writing checks for fake invoices to fake vendor accounts that she controlled for several years taking hundreds of thousands of dollars to cover her gambling addiction
An employer became suspicious of how often an employee seemed to have comps on his tickets or needed tickets rerun for alleged errors. After working with their POS vendor, they set up codes to track the frequency and amounts of these transaction and found the employee was removing food and drinks to pocket the difference.