🕵️♂️ Employee Dishonesty & Theft: An Overlooked Risk for Canadian Businesses 🇨🇦
Trust is the foundation of every successful workplace—but even the most loyal teams aren’t immune to internal risks.
Each year, Canadian businesses suffer losses from employee dishonesty, including theft, embezzlement, fraud, and forgery. Too often, these incidents remain undetected until significant damage has already been done.
🔍 What Is Employee Dishonesty Coverage?
Also known as Crime Coverage or Fidelity Insurance, this type of policy protects your business against financial losses caused by deliberate acts of fraud or theft committed by employees.
📉 Common Scenarios in Canada
- Misappropriation of company funds
- Inventory theft or product skimming
- Fake vendor payments or false invoicing
- Cyber-related insider fraud
💡 Did You Know?
- Employee theft is one of the most common causes of business losses in Canada
- Small and mid-sized businesses are particularly vulnerable due to fewer internal controls
- Many standard commercial property or liability policies do not automatically cover employee theft
✅ How to Protect Your Business
- Add employee dishonesty coverage to your commercial insurance policy
- Strengthen internal controls with dual-approval processes
- Conduct regular reviews of financial statements and audits
- Run background checks and promote a culture of accountability
🛡️ Final Thought
Protect your people—and your bottom line. Let’s connect if you’d like to explore crime insurance options or review the safeguards in your current policy.
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