11/21/2016 12:00 PM | 0 Comments



As a business owner, there are many risks you must manage on a daily basis, especially if you own a brick and mortar location. From vandalism to theft to flooding, many situations could turn catastrophic if you do not take the proper precautions. We put together a comprehensive guide on how to prevent theft and damage and the steps to take if these events do occur.


Curb Theft at Your Organization


Unfortunately, employee theft is something you should always watch out for as an employer. Typically, employees may embezzle money or steal products, such as food or electronics. To curb theft at your organization, consider the following safeguards:


  • Educate your employees about what is considered fraud and the consequences associated with it, and emphasize that the company has a no-tolerance policy.

  • Conduct more internal audits, especially of your financials and of any employees who handle customer transactions.

  • Perform thorough background checks on all new hires.

  • Consider using a payroll service to ensure accuracy.

  • Train managers and supervisors to monitor employees and watch for suspicious behavior. Any suspicious behavior should be reported and further investigated.


In addition to employee theft, one risk you need to be aware of and plan for is criminal activity, including vandalism, break-ins, theft and violence. Though not all security threats can be avoided, some situations can be prevented with appropriate preparation:


  • Advise staff and residents to report any suspicious persons or activity in or around the facility.

  • Be sure each unit is equipped with appropriate locks and security features, and instruct residents to let management know if maintenance is needed or if their key is lost or stolen.

  • If your facility has a security/fire alarm system, be sure it is operating properly and that key personnel know how to arm/disarm it.

  • Install security cameras in the interior and exterior of your business if possible.  


Be Prepared For Unexpected Damage


In addition to vandalism, damage can also come in the form of storms or floods. To avoid expensive damages from Mother Nature, follow these precautions:


  • Evaluate which disasters are most likely to occur in your area. Be sure you are prepared for all of the risks you identify.

  • Develop a Disaster Recovery Plan. If you already have one make sure that it is up-to-date. This entails preparing for anything that could cause disruption in essential systems, infrastructure or building functions.

  • Inspect all areas of your office or building and identify areas that need immediate repairs.



Secure Your Business With Insurance


It is imperative that you protect your business against any potential threat — big or small — with property insurance.


Basic property insurance covers losses due to fire or lightning, including the cost of removing property as a way to protect it from further damage. If you want to purchase more than basic coverage, you can buy a standard policy that provides coverage for extended perils, such as floods, windstorms, hail, earthquakes, acts of terrorism, explosion, riots, smoke, civil commotions and vehicles that damage your property. Beyond that, coverage for vandalism and malicious mischief can also be included.


Before purchasing coverage, take a complete inventory of all your business property to determine how much you need to insure. This important step ensures you will have adequate coverage to continue your business in the event of a covered loss.


Eastern Insurance Group understands that protecting your business is critical, so we’re here to help. Contact us today at (800) 333-7234 or visit our website to learn more about our property insurance and loss control solutions to protect your business.


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