What is Employee Dishonesty cover?
Small businesses in New Zealand face threats left, right and centre. External threats range from physical accidents, cyber-hacks, property damage, business interruption and accusations of poor advice. But have you considered that you are also vulnerable to a potentially financially devastating internal threat – the conduct of your own employees?
You (hopefully) trust your employees, and they may have access to sensitive files and information. However the sad reality is that there is always the potential for an employee to steal, commit fraud, or engage in otherwise dishonest facts. Should they choose to, their actions could end up costing your company and your reputation significantly. Fortunately, you can take out insurance against employee dishonesty.
Employee Dishonesty insurance covers your business for losses incurred by theft, fraudulent or dishonest acts by your employees, subject to obtaining Money and / or Contents insurance.
Small business owners of all types can consider taking out this valuable insurance product. To determine if Employee Dishonesty cover is right for you, you should consider the ramifications of employee dishonesty on your business. Would your clients continue to trust you if you if you compromised their data or were unable to show up for their jobs due to the actions of your employee? Would you be able to keep your doors open after suffering from the theft of money or goods? How long would it take you to replace the stolen money or goods, and what impact would your business operations suffer in the meantime?
If the answers are looking bleak, Employee Dishonesty insurance may be a suitable insurance product for you.