Tag Archives: theft

Is Your Business a Target? Robbery Prevention Tips

As a former robbery detective in the Chicago Police Department I can easily see why a business would be a target for a robbery or hold up. Now that my career is in insurance, I know how important it is for a business to keep a “low profile.” Here are a few things you can do to make the bad guys pick another business as their victim:
(more…)

6 Tips to Control Crime

This entry is part 10 of 13 in the series Safe With Society

As we celebrate our 100th year in business in 2015, we embark on another century of commitment to our policyholders. Our mission is to protect the livelihoods of our policyholders, and, as the saying goes, an ounce of prevention is worth a pound of cure. In keeping with that theme, we’ll celebrate our 100th year in business with 100 important tips to help identify, evaluate and prevent dangers that could result in financial loss or injury in a year-long “Safe with Society” blog series.

Crime can happen anywhere, but convenience and liquor stores are often subject to crime and violence due to their late hours and common short staffing. You can take measures to prevent crime, limit the severity, or, at a minimum, assist employees in knowing the hazards and how to address them. (more…)

Is Your Outdoor Property Protected?

Most businessowners policies protect outdoor property with a standard limit of $2,500 for five specific perils: fire, lightning, explosion, riot or civil commotion, and aircraft. While this offers some protection for your outdoor investments, how likely are these events to occur? And if they do, will $2,500 be enough to cover your loss(es) associated with outdoor fences, antennas, light poles, signs not attached to buildings, and tree and shrub damage, including debris removal?

Consider these common claims situations not covered by a typical policy: (more…)

8 Tips to Prevent Data Breach (2/4)

This entry is part 11 of 30 in the series Data Security

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.

Data breach is the exposure of customer information, and should not be confused with identity theft – which is when thieves target individuals to obtain credit card and financial information – or cyber liability, which refers to the individual targeting of businesses to steal their financial information via hacking.

Preventing data breach is equal parts common sense and technical knowledge. It’s important to take a balanced approach because neither avenue alone can address all issues. Consider these tips: (more…)

Top 3 Data Breach Myths (1/4)

This entry is part 10 of 30 in the series Data Security

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.

MYTH #1: It won’t happen to me.
Facts: No matter the industry, data breach is a real concern to any business. From restaurants and bars running hundreds of credit cards every night to medical offices with piles (both electronic and physical) of sensitive patient information, it can happen to anyone. (more…)

Employee Dishonesty: Prevent Fraud (Part 2 of 2)

This entry is part 2 of 2 in the series Employee Dishonesty

Employee fraud and dishonesty take a toll on business of all sizes. Last week, I provided a list of concerns that should be investigated to protect your business from occupational fraud. This week, I share ways to take action to prevent these business-damaging events.

One aspect of fraud prevention includes thorough fraud detection training. Teach employees and managers the impact fraud can have on the organization, what constitutes fraud, the warning signs of fraudulent activity and how to report suspicious behavior. (more…)

Employee Dishonesty: Identify Threats (Part 1 of 2)

This entry is part 1 of 2 in the series Employee Dishonesty

Employee fraud and dishonesty take a toll on business of all sizes. This week, I provide a list of concerns that should be investigated to protect your business from occupational fraud.

Employee dishonesty can be damaging to both your business’ bottom line and reputation. Occupational fraud can result from theft of money, securities or other property of the employer. A recent report from the Association of Certified Fraud Examiners (ACFE) found that the typical organization loses an estimated 5 percent of its annual revenues to occupational fraud. In that same study, the ACFE found the median loss caused by occupational fraud was $140,000. This is a loss no business or organization can afford. (more…)

Deter Shoplifters from Targeting Your Convenience Store

While security is important for any business, convenience stores (c-stores) are a frequent target for would-be criminals—particularly shoplifters—due to their late hours, high cash volume and heavy foot traffic. The National Association for Shoplifting Prevention found that more than $13 billion worth of goods are stolen every year. That’s more than $35 million per day.

And it’s not just shoplifters who are causing product to go missing. Three out of four employees admit to having stolen from their employer at least once, accounting for 42.7 percent of retail shrinkage. (more…)