You trust your employees—and you should. But when employees have access to company money, inventory, equipment, or financial accounts, there’s always some level of risk. Unfortunately, even a small act of dishonesty can turn into a significant financial loss.
That’s where employee theft and fraud coverage can help.
What Is Employee Theft Coverage?
Employee theft coverage, often included as part of commercial crime insurance, is designed to protect your business from covered financial losses caused by dishonest acts committed by employees. The Texas Department of Insurance identifies employee theft as a common type of commercial crime coverage.
Depending on the policy, coverage may help with losses involving:
- Theft of money, securities, or business property
- Embezzlement
- Forgery or alteration of checks
- Computer fraud
- Funds transfer fraud
- Certain social engineering scams
Coverage varies by insurance carrier and policy, so it’s important to look beyond simply having a “crime” endorsement and understand exactly what your policy covers.
Why Business Owners Should Pay Attention
A standard Business Owners Policy (BOP) or commercial property policy isn’t necessarily designed to cover every type of employee dishonesty or financial fraud. Commercial crime coverage can be added or written separately to address these specific exposures.
Whether you own a contractor business in San Antonio, a professional office in New Braunfels, a retail shop in Cedar Park, or a business anywhere in the Texas Hill Country, employees may have access to assets that need protection.
And no, this isn’t about assuming the worst about your team. It’s about recognizing that good internal controls and good insurance work together.
Protect More Than Your Property
You probably have insurance for your building, equipment, vehicles, and liability. But protecting your business also means considering what could happen inside your own operation.
At Dowd Insurance Agency, we help business owners throughout Central Texas and the Austin-to-San Antonio corridor identify gaps in their commercial insurance programs—including employee theft and crime exposures.
Contact us today for a free review of your insurance needs and current coverages.
Because protecting your business isn’t just about what happens outside the front door.
