Employee Theft


Perhaps, the most rapidly growing areas of insurance claims in America is employee theft. No company is immune from theft. The US Chamber of Commerce estimates that employee theft is costing American business $40 billion annually. In the past, we recognized employee theft as “raw materials walking out the backdoor”. While that type of theft continues to plague industry, today’s trends indicate a dramatic shift towards more sophisticated “crimes” involving fraud, embezzlement and skimming often taking place over several/many years, and most often involving the most trusted of company employees. Typical examples include:


Bookkeeper conspires with a vendor to submit phony invoices

Payroll clerk conspires to overpay expenses to employees

Purchasing agent buys personal items through company paid invoices


The good news is that insurance exists for employee theft and dishonesty incidents and many companies have such insurance. Many employers are not aware that they are insured for such a loss, or, oftentimes, are too embarrassed to report it.

Once a theft or dishonesty is suspected or discovered, it is absolutely essential that the insured immediately take the legal and appropriate steps to ensure that they will be able to recover the loss from their insurance company. Included among these steps is the need to conduct an immediate and accurate investigation and file a timely proof of loss. Failure to do both, promptly and correctly, will result in an invalid insurance claim.


The Sill Company is expert in handling both the investigative and claim preparation aspects of employee theft and dishonesty insurance losses. Immediately upon receiving notice, we will send our investigators into the situation to interview witnesses. Our ultimate goal will be to elicit a confession and/or to satisfy the underlying legal requirements to maintain an insurance theft loss claim. We will then send our expert forensic accounting staff in to calculate the loss in order to specifically delineate the loss to the insurance company, another requirement in order to establish a valid insurance claim.


Ultimately, the decisions you make in the first 48 hours following the discovery of a theft or a suspected theft will be dispositive of your success in maintaining an insurance claim. Make sure Sill is expressly on your side during that initial discovery.

Learn about how Sill can serve your immediate and long-term needs:



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When a loss occurs, the Sill Adjustment Company is pleased to provide you an immediate,
no cost, on-site inspection and review of your loss and your insurance policy.




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