Identifying Theft In Sports Organizations And Need For Crime Insurance

One of our sports insurance clients wrote a fantastic article on how to prevent insider theft in youth sports organizations. Unfortunately, this insight was gained from his first hand experience and he now wishes that he had purchased crime insurance to go along with his Accident and General Liability coverages.

This article covers some new ground on the following topics:

* behavioral signs of the people who are most likely to steal (ex: living beyond means, unwilling to share duties)

* warning signs that theft may be occurring (ex: missing / unorganized records, sudden drop in revenue)

* overall protections that should be implemented (ex: avoid multiple board members who are closely related, insist of financial reporting at meetings)

*how to protect against the theft of cash from concessions and gate receipts (ex: always take beginning and ending inventory at concession stand, issue tickets or use counter)

* some statistics on the mindset of the embezzler (10% will steal no matter what)

For the 10% who will steal no matter what, all sports organizations definitely need Crime Insurance. We offer a $25,000 Sports Crime Insurance policy for $175 a year.

Click here for this fantastic article

Source: Anonymous

Filed under: Crime, Risk Management
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