Tips to prevent internal business theft with Rhode Island commercial insurance

To run a successful business you need to be able to rely on your workers. Unfortunately, there are always a few dishonest employees out there willing to steal from their workplaces. The subtle, consistent theft of small amounts of money can end up costing your business a lot of money by the time you’ve discovered it happening. Getting crime coverage on your Rhode Island commercial insurance policy can help protect your business inventory from things such as credit card fraud, computer fraud, theft, and “fudging the books”, but ideally you would want to prevent internal theft from happening altogether.

Here are some tips to stop internal theft:

1. Consistently review transaction reports - the more often you check transaction reports, the easier it will be to spot any discrepancies. Make your employees aware that you perform regular checks on cash levels.

2. Perform regular inventory checks - this way you can determine if there are any products that are missing. Putting off stock counts can make it difficult to determine the cause of any inconsistencies.

3. Give all employees individual passwords and only allow them access to parts of the point of sale system they need. Change or remove an employee’s password when he or she leaves.

4. Check the references of prospective employees - checking references is not a foolproof method, but it can help you hire trustworthy employees.

Review your Rhode Island commercial insurance policy - check with your agent about the specifics of your policy, such as what your coverage limit is, and what type of thefts and fraudulent activity are covered by your policy. With Podmaska Insurance, you can get the coverage you need for your small business. Contact us today for more information!

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