Crime and employee dishonesty are unfortunate threats that most businesses face. It can be especially damaging however if you own and run a photography business. Theft of money, securities and property are something that you may encounter as a photographer.

Why You Need An Employee Dishonesty Policy

An employee dishonesty policy is something every photographer should add to his or her existing photography insurance policy. This type of coverage will protect you from financial loss due to the fraudulent activities of your employee(s). These types of polices are becoming increasingly popular as theft and embezzlement are on the rise.

It is estimated that businesses lose about 6% of total revenue yearly due to employee theft. One-fourth of workplace crimes are carried out by employees who have been at a company for more than a decade. If you own a small company, such as a photography business, bouncing back from that kind of loss is extremely difficult; you cannot afford to absorb those financial losses.

Coverage And Employment Practices

A policy like this generally covers employee thefts, robbery and safe burglaries, but can also include:

• Forgery and Alteration
• Fund Transfer Fraud
• Credit Card Fraud
• Counterfeit Fraud

It may seem hard to trust your employees, knowing now the many ways they can steal from you, but you can ease your mind by having the right employment practices in place. Do your employees deliver photographs or equipment off-site? If so, you should have a written procedure in place for tracking orders, receipts and equipment. You should also have a strong sense of who you’re hiring before you actually do. Pre-employment background screenings are extremely beneficial and should be done!

If you’re concerned about your current coverage or are just getting started, Southern States can review your needs and get you a free quote!