What is the definition of Employee Dishonesty Coverage?

Employee Dishonesty Coverage protects the business from losses or damage caused by the dishonesty of its employees.

These dishonest acts may result in the loss of income or liability demanded by customers who may have been adversely affected by such acts. This includes the theft of the business' physical assets as well as the theft of intellectual assets. This covers instances where a cashier skims money from the cash register, an employee who pockets part of valuable equipment or an employee taking client lists and selling it to a competitor. Other intellectual property that may need protection includes the theft of software files, as well as trade secrets.

It is important, however, to note that some policies do not cover some unlawful acts of employees; that is why it is also advisable to be covered by a Fidelity Bond. Remember, claims are only payable when they are covered by the insurance contract's terms.

• Reinstatement
• Registered Principal
• Liquor Liability
• Businessowners Policy (BOP)
• Directors and Officers Liability Insurance