There is always the possibility that an employee will steal. Statistics show a shocking increase in employee theft. They also identify theft as the leading cause of small business failure. The only protections against this kind of loss are good internal control, regular outside audits and a Fidelity Bond.
Fidelity Bonds are often referred to as “honesty insurance.” They cover loss due to any dishonest act of a bonded employee. The employee may steal alone or with others. The loss may be money, merchandise or any other property, real or personal. The Fidelity Bond is available in a group (blanket) or individual (schedule) form.