How To Maximize Insurance Recovery For Employee Crime
October 30, 2013, 6:25 PM EDT
Law360, New York (October 30, 2013, 6:25 PM EDT) -- Employee theft is a significant source of loss in the hospitality industry. Reports have found that 34 percent of employees in the 18-to-29 age bracket believe that stealing from their employer is justifiable. It is believed that as much as one-third of all restaurant failures are due, in significant part, to theft by employees, and the total amount stolen industrywide, in restaurants alone, amounts to $8.5 billion in annual losses.
A study commissioned by the Association of Certified Fraud Examiners estimated that the median loss caused...