Learn about white collar crime and how you can protect yourself with commercial insurance.
As a business owner, you know that crime is always a threat to your business. From cyber crimes to old-fashioned breaking-and-entering, there are lots of ways in which your business is at risk. Threats are everywhere. However, when it comes to your employees, you’d never think they’d put your business at risk. Unfortunately, white collar crime is more common than you’d think. Check out what you need to know about white collar crime so that you can protect your business.
Small Business Risks.
When it comes to white collar crimes, small businesses are often at greater risk than their larger counterparts. On average, companies with less than 150 employees saw the greatest instance of white collar crimes. Even more disconcerting is that almost half of these crimes occurred in businesses that had 25 or fewer employees. The smaller the company, the greater the risk. Take steps to protect your business with the right coverage.
Look Out for Managerial Staff.
On average, white collar crime tends to be carried out by managerial staff. These key players in your company have their fair share of responsibility. However, long with responsibility comes power and the potential to abuse it. Managerial staff is much more likely to commit a white collar crime than rank-and-file employees. Establish a system of checks and balances so that you’re best able to keep an eye on the managerial staff.
Good Employees to Watch.
When it comes to white collar crime, the criminals tend to be well-liked individuals. These perpetrators don’t fit the traditional role of a criminal. Whether it’s due to opportunity, pressure, or capability, don’t assume that your business is automatically secure. Take the necessary precautions to protect your business from white collar crime.
When it comes to your business, ensure that you have protection from white collar crime with the right commercial insurance. Contact the professionals at NorthStar Risk Management & Insurance Services, Inc. in Walnut Creek, California for all your commercial and personal insurance needs.
