Managing the Risk Related to the Rogue Employee Through Insurance

Canada has one of the highest rates of corporate type fraud in the industrialized world, representing a real and substantial risk to business. In the Global Economic Crime Survey 2009, PricewaterhouseCoopers found that economic crime in Canada was at its highest level in six years. Further, a recent KPMG survey found that 69% of frauds were inside jobs. If not properly managed, this is a problem that can take a significant toll and even lead to the failure of a business. Yet, companies are not defenseless against potential threat; by understanding the options available, the risk of a rogue employee can be mitigated. Published in the June 2011 edition of Pulse by the Ontario Risk and Insurance Management Society.