Many companies, small or large, have loyalty issues with their employees that need to be addressed. Companies spend much on the training of individual employees to ramp up their skills before they go into production. Many cases involve employees leaving the company even before they are sent to production. When this happens, the company loses money even before their employee can make money for them.
Fidelity insurance or bond is what addresses this problem. It provides protection to companies and organizations from disloyal employees. Fidelity insurance acts as a buffer so no significant losses will be incurred if an erring employee has to be let go. This allows the company to proceed with their operations after being set back by this event.
Importance of Fidelity Insurance
Businesses in the service industry that require employees to work at the customer's premises require fidelity insurance to cover for their fraudulent or dishonest acts. For example, if you have a cleaning service, and your employee steals an item from the home of your customer, fidelity insurance will help you reimburse your customer.
Fidelity insurance does not only protect you from when your employee steals from your customer, it also covers instances when your employee steals from you. Embezzlement is a type of employee misconduct that business owners should always be prepared for. Fidelity insurance will do just that, and it can be tailored to cover specific actions of all, or one or more specific employees.
Experts in Fidelity Insurance
The agents at Keystone Risk Management, Inc. are experts in fidelity insurance. We are aware of what fidelity insurance means in its essence. Fidelity insurance is provided to guarantee the loyalty and honesty of an employee of an employer by promising to compensate the employer for losses incurred as a result of the disloyalty or dishonesty.
Keystone Risk Management Inc. knows that fidelity insurance can also protect organizations from loss of money, securities, or inventory resulting from crime. These acts involve every possible angle, taking advantage of any potential weakness in your company’s financial controls. Further examples of these acts include fictitious employees, dummy accounts payable, non-existent suppliers to outright theft of money.
Reliable Fidelity Insurance
Let Keystone Risk Management help you with fidelity insurance and other products, such as the following:
- Builders Risk Insurance
- Workers Compensation Insurance Agents
- Landlord Insurance
- General Liability Insurance Brokers
Do you want to know who we serve? Take a look at this interactive map.
Protect your company today by learning the advantages of having a fidelity insurance policy. Get in touch with Keystone Risk Management Inc. today.