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A Business Insurance Update

Businesses Have many different risks to manage including; cyber risk, employment issues, fire and even insider fraud.  Fraud experts have found that the average fraud loss is$50,000, (The Association of Certified Fraud Examiners).   Your commercial insurance program should include employee dishonesty or fidelity, including losses due to employee dishonesty, credit card forgery, computer fraud and theft, and disappearance and destruction of property. Fidelity policies will cover a business for losses caused by an employee’s dishonest or fraudulent acts. These can provide businesses with the best possibility of recovery.

There Are Ways to Help Reduce Your Risk in This Area

  1. Complete background checks on all new employees
  2. Create internal policies and procedures that require checks and balances
  3. Have a third person approve all purchases or checks over a certain amount
  4. Have an outside accounting firm review your records annually
  5. Require all employees to take their scheduled vacations
  6. Have separation of services between check writing, approval and deposits

Employee fraud is a greater risk than most businesses think. Have us complete a free review of your business insurance program to make sure you have the best possible combination of coverage price and service.

We are an independent agency focusing on the needs of our clients.  We have relationships with dozens of insurance companies, allowing you to get the most competitive price along with our fast service. Whether you have the ideal history preferred companies desire or a not so perfect history, we offer the products for you.  Certain types of changes to your policy can be requested directly from our website twenty-four hours a day, seven days a week by selecting any of our convenient forms located at the left.  As experienced and professional independent agents, we offer the fundamental coverages with the personal touch you would expect from any of our local St Louis metro area Alternatives Insurance® locations. 

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