Chubb study finds 60% of companies anticipating employee theft

A new study commissioned by the Chubb Group of Insurance Companies finds 60% of private companies anticipate an employee will steal funds or equipment this year. Also, 34% say an employee may steal funds from a client.
A full 39% of companies report some kind of employee theft from the company over the past few years, while 9% admit an employee has stolen funds from a client during that period.
While many companies use risk management techniques such as employee background checks, less than 25% actually buy crime insurance. This year, 36% of companies say they plan to conduct risk assessment of executive protection related exposures
While 9% of companies report an employee beign harmed in a violent workplace or business accident, this figure almost doubles to 16% for larger companies with annual revenues over $1 billion. And more than 40% of companies expect to experience an employee being harmed in an incidence of workplace violence this year.
The figures are much lower for kidnap and extortion, with just 3% of companies reporting the kidnap of an employee or family member in the past few years, and 5% reporting an incidence of extortion. However, 23% of companies expect they could be a target for an extortion attempt some time this year.