Skip to main content Navigation

Articles and News

Internal Theft Still Accounts For Large Percentage Of Retail Loss, Says Insurer December 15, 2021 (0 comments)


New York, NY—While losses from retail jewelry crimes such as burglary, smash-and-grabs, and shoplifting are on the rise nationwide, jewelers need to be equally vigilant about inside losses, says a new release from Berkley Asset Protection. Internal disorganization and employee theft are still major contributors to a high percentage of retail shrinkage. The insurer offers a number of tips jewelers can take to minimize the chances of both internal and external losses.

Organized Inventory Management. Staying on top of your inventory and having a clear plan for merchandising protocols is critical to loss prevention. Reduce human error, unchecked discrepancies and misplaced inventory through these tips.

Employee Loss Prevention. Retail loss can often occur due to both intentional employee losses and unintentional employee losses. Intentional employee loss includes stealing inventory, cash, or anything from your business, as well as stealing customer credit card information to make fraudulent purchases or providing unauthorized discounts on purchases for family and friends. Unintentional employee loss, however, can be more common and is the result of negligence, failure to follow procedures, disorganization, or human error. 

Increase Security Measures. As highly targeted businesses for crime, high-value jewelry businesses should make sure all security measures from surveillance cameras, alarms, vaults, power and display locks are properly functioning and entry access points are secure. 

While some losses can be prevented, others cannot. The most important thing is to ensure the safety of employees and yourself. For additional Loss Control tips, visit

Share This:

Leave a Comment:

Human Check