Employee Theft and Business Crime Coverage: A Small Business Checklist

Map who can move money or property

A Bargersville business may have employees who handle cash, refunds, inventory, payroll, or vendor payments. List each role with access to bank accounts, payment systems, stock, and customer property. Include remote work and outside bookkeepers or contractors, but do not assume all people meet a policy’s definition of employee. This access map helps identify where financial controls and insurance questions belong. It is a planning exercise, not an accusation against staff.

Compare the actual policy forms

A commercial property policy and a business crime or employee dishonesty endorsement can address different causes of loss. Ask a licensed agent whether the contract covers theft of your money, securities, or other property by defined employees; how it treats customer property, electronic transfers, and collusion; and what limits, deductibles, discovery periods, exclusions, and proof requirements apply. Cyber or funds-transfer fraud may require separate terms. Do not assume a general liability or cyber policy automatically covers an internal theft loss.

Build records before a loss

Use separate approval and reconciliation duties where practical. Limit access to payment and payroll tools, review user permissions when roles change, and reconcile bank, refund, and inventory records regularly. Keep signed job duties, transaction logs, invoices, deposit records, and documented exception reviews. If a discrepancy appears, preserve records and consult appropriate legal and accounting advisers before making allegations or altering evidence. Ask the insurer how and when a suspected loss must be reported.

Review growth and third-party requirements

A new location, more employees, higher cash flow, or a contract requiring a fidelity bond can change the discussion. A bond and a crime policy are not interchangeable without reviewing the actual wording and beneficiary. Revisit coverage at renewal and after operational changes. Our customer property guide helps separate another exposure, while Small Business Insurance articles offer more checklists. Bring your access map and contracts to a licensed agent for a policy-specific review.

The Jennifer Dammeier Agency serves Bargersville and nearby Johnson County communities. Contact Jennifer Dammeier American Family Insurance with your current policy and the details of your situation to discuss available options.

This article provides general educational information, not individualized insurance, legal, or tax advice. Coverage, availability, limits, exclusions, and claims depend on the policy and insurer. Review your documents with a licensed agent and consult other qualified advisors as needed.