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The idea that insurance pays so theft doesn't cost the business anything is false. The insurance rates will be raised so you'll wind up paying the bill anyway.

Insurance is a good idea to cover catastrophic loss, but if you can self-insure for other things, you'll be way better off.

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Makes sense. My thought was just that the business probably had some sort of commercial property loss coverage that might have covered that case (even though -EV). I’d guess a far more common case of employee theft (retail shrinkage / fell-off-the-truck) is self-insured, as some kind of operating provision.

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