Employee Theft Remains Leading Cause of Crime Claims, Philippe Côté Reminds Us

While cyber-enabled frauds continue to dominate the conversation, employee theft remains the leading cause of crime insurance claims in Canada—both in terms of frequency and severity.

Philippe Côté, Senior Vice President and National Practice Leader—Executive Risk at BFL CANADA, spoke with Insurance Business Magazine about the risk of employee theft. He highlights recurring weaknesses in businesses’ daily operations leading to lax security measures.

It is by adopting simple yet effective measures that businesses can overcome this threat, regardless of their level of technological sophistication.