Can business insurance cover employee theft?

Business Insurance Coverage for Employee Theft in Missouri

In Missouri, business insurance can include coverage for employee theft through specific policies designed to protect your assets from dishonest acts by employees.

Types of Insurance Covering Employee Theft

• Employee Dishonesty Bond: This policy specifically covers losses caused by fraudulent acts committed by employees, such as theft of money, property, or inventory.
• Crime Insurance: Broader than employee dishonesty bonds, crime insurance may cover various types of theft, including employee theft, robbery, and forgery.

Operational Considerations

• Policy Selection: Evaluate the level of risk your business faces from internal theft and choose coverage limits accordingly.
• Employee Screening: Implement thorough background checks and clear employee classification to reduce the risk of theft.
• Recordkeeping and Controls: Maintain accurate financial records and establish internal controls to detect and prevent theft.
• Claims Process: Understand the claims reporting requirements and documentation needed to file for employee theft losses.

As of 2026

Insurance providers in Missouri may update coverage options and requirements, so regularly review your policies and consult with your insurance agent to ensure adequate protection against employee theft.