In a recent blog referenced a study by Hiscox Insurance about employee embezzlement with small companies. The following link references the study previously mentioned:
https://www.hiscox.com/shared-documents/14537-US-2016-Hiscox-Embezzlement-Study.pdf
Here are actual stories actual examples of employees stealing money from their employers. The following link discusses a company controller that stole money from his employer and sent to an “overseas woman”.
https://www.insurancejournal.com/news/east/2016/08/22/424044.htm
The money is gone, likely the company is out the $1.4 million.
Hopefully the companies involved had crime insurance policies to reimburse them for the losses.
L Squared Insurance Agency specializes in writing coverage for law firms, accounting firms, title agencies and dentists that all should have crime insurance.
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Lee Norcross, MBA, CPCU
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