Get instant
small business insurance quotes


Home >
 

Businesses must guard against shoplifters and dishonest employees

Published:

In recent years, the retail business has been hit hard by shoplifters and dishonest employees. A recent survey from Jack L. Hayes International found more than $6 billion in merchandise was stolen by 1 million thieves in the previous year.

According to the survey, apprehensions of shoplifters and dishonest employees increased nearly 6 percent in 2011, while the amount of money recovered from these thieves has grown more than 11 percent.

"While shoplifter apprehensions rose 6 percent and dishonest employee apprehensions rose 3.3 percent, the recovery dollars from these apprehensions was up 13.9 percent for shoplifters and 5.6 percent for dishonest employees," said Mark Doyle, president of Jack L. Hayes International.

With $161 million being recovered from shoplifters and dishonest employees, this survey illustrates businesses need to do something to make sure these problems are addressed. Changing hiring practices could reduce the number of employees stealing products.

Businesses will never be able to fully avoid people stealing from them, unfortunately, which is why having the proper business insurance policies in place is so critical, to protect against the financial fallout from thefts.

WHY Business Insurance Now?

Learn why thousands of small businesses trust Business Insurance Now as their insurance agency.

Take 15 minutes to see how we can help you protect your business.

  • FREE, no-obligation quotes.
  • Complete one online application to compare multiple quotes.
  • Fast response—typically less than 24 hours on week days.
  • We are a nationwide insurance agency covering 48 states.
  • We work directly with you to evaluate your insurance options.
  • We only work with the top business insurance carriers in the country.
  • Expert, licensed insurance agents to guide you through the process.