Chubb Group of Insurance Companies said private companies planning cutbacks and other economy moves face an increasing risk of employee theft, with the current average take for such crimes now well over a quarter of a million dollars.
According to the Warren, N.J.-based insurer, its research shows 36 percent of private companies, many of which were uninsured, experienced employee theft averaging nearly $350,000 within the past five years.
As companies carry out plans for staff reductions and budget cuts–actions which tend to motivate employees to steal funds, equipment and inventory–more companies may now face similar losses, according to Chubb.
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