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.