Fidelity

Employee theft? If you have a janitorial company then this may be a concern. Going into people's homes and/or business does present an opportunity for a dishonest employee to put something in their pocket.

If you need to insure your business for losses caused by dishonest acts of your employees then you need a fidelity bond. This is a a form of protection that covers you for losses that may incur as a result of fraudulent acts by specified individuals.

Though this is called a bond, it is really a form of protection for you as the employer. You will do your best to put security in place with good business techniques but if an employee is determined to steal then it can be very difficult to prevent. These special policies pay out after a claim for stolen company securities, monies, and other property from employees who have a flagrant or obvious intent to cause the business loss.

You can purchase other types of crime coverage including general theft, burglary, disappearance, fraud, and forgery. This is not a fidelity bond. This is coverage added to your policy for money or securities that disappears, is destroyed and for employee dishonesty. It is added into your commercial general liability policy and would appear on that document if it is included. You need to discuss your particular needs with your agent or broker.

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