Outdoor Insurance Group specializes in Outdoor Adventure Insurance and Outdoor Recreation Insurance for all businesses outdoors. We pride ourselves on years of experience and keen industry knowledge. Keeping up with key topics is one way in which we offer top quality service. Here’s a look at employee theft statistics, estimated to be on the rise.
Why Does Employee Theft Matter?
“Business Practical Knowledge,” a guide for small businesses, defines employee theft as any stealing, use or misuse of an employer’s assets without permission. The term “employer’s assets” is important because it implies that employee theft involves more than just cash and can include time and supplies, company property.
The U.S. Chamber of Commerce estimates that 75 percent of all employees steal at least once, and that half of these steal repeatedly. Importantly, one of every three business failures is the direct result of employee theft. The American Society of Employers estimates that businesses lose 20% of every dollar to employee theft. The FBI reports that employee theft is the fastest growing crime in the United States. That’s a lot of important statistics from distinguished resources to be mindful of for your business.
As a small business who needs Outdoor Adventure Insurance or Outdoor Recreation insurance, you can rely on Outdoor Insurance Group to be a partner in your business and analyze all of your areas of vulnerability, including employee theft. We create individual solutions to protect each client from risks, protecting the financial future of every business we serve. If you run an outdoor business and you’re looking to buy, renew or update and insurance plan, call today for a free consultation (888) 683-7808.