Employee dishonesty

Though the majority of your employees will be loyal and trustworthy, sadly there are dishonest people out there and despite your best efforts to screen them out during the recruitment process, you may at some point have to deal with a dishonest employee. Employee dishonesty can take many forms and can cause serious losses via theft or by leaking sensitive information outside of the business. We explain how you can insure against this risk and offer advice as to how to minimise the risk posed by dishonest employees.

Fidelity guarantee cover is designed to cover the risk of losses arising from the dishonest activities of employees (terms and conditions do apply). At Towergate, we can offer this as an extension on your self drive hire insurance policy.

Prevention is obviously far better than cure and proactive risk management is key to minimizing the risk of a problem happening in the first place. A lack of basic precautions can quickly lead to systemic problems. Conversely, a business that takes matters such as security seriously is unlikely to provide fertile ground for criminal activity to take root.

Key aspects of running a secure business include:

  • Having robust procedures relating to recruitment and employee vetting

  • Putting in place secure and carefully controlled operational processes and procedures

  • Ensuring that physical protections in terms of premises and vehicles reflect the risks

  • Consider engaging the services of a security specialist or an employee vetting organisation that knows and understands your industry

For more on managing the risk in your business and to enquire about fidelity guarantee cover, call us on 0344 346 3275 and speak to one of our helpful advisers.

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