Comprehensive cover for fraud and theft
The inquiry may end up in a wrongful dismissal suit at an employment tribunal or involve the police and taking a case to court.
Along the way, your business will have a soured reputation and will have to compensate anyone who has a financial loss because of the wrong-doing.
You may have to undergo an audit, recruit and train new employees and review business processes.
The policy will pay out for a lot of these expenses and could be the difference between a business failing or soldiering on under such adverse circumstances.
Trusted employee plundered bank account
If you feel this is something that only happens to someone else, here are a couple of recent examples of employee dishonesty.
In one case, a trusted employee plundered nearly £400,000 from a family-run letting agent over a decade.
That’s money that needs repaying to customers, suppliers and tenants and would make a huge dent in the cashflow of many letting and estate agents.
Unfortunately, such cases are not rare.