QBE North America Whitepaper Examines the Evolving Risk of Employee Crime

NEW YORK, March 3, 2026 — QBE North America today released a new whitepaper, “Employee Crime: The insider threat of theft and fraud.” The whitepaper explores the prevalence of employee crime, such as theft, fraud and embezzlement; the concern prevention efforts are insufficient; and how organizations are approaching risk mitigation. Existing organizational vulnerabilities, such as gaps in internal controls, as well as concerns about artificial intelligence (AI)-driven fraud methods, are heightening the potential for financial loss and reputational damage.

“Employee theft and fraud continue to be persistent and evolving risks for businesses,” said Matt Dodd, VP, Underwriting – Fidelity and Crime, QBE North America. “Organizations must take a proactive approach to identify vulnerabilities and strengthen their internal controls to reduce exposure.”

The whitepaper is based on a survey of 200 risk managers at organizations with a minimum of $500 million in annual revenue. Key findings include: 

• Employee crime is a persistent risk. In the last 12 months, 80% of risk managers said their organizations experienced employee crime such as theft, fraud, and embezzlement.
• Only a portion of stolen funds or property is recovered, excluding insurance claim payments. Thirty-five percent of respondents said that their organizations recovered 51% to 75% of the stolen funds or property, while 30% recovered 26% to 50%. 
• AI-enabled employee crime is a concern. Most risk managers (94%) are concerned about employees using AI to perpetrate workplace crimes within their organizations.
• Internal controls need improvement. Nearly half of risk managers are “very concerned” (41%) or “extremely concerned” (8%) that their organizations’ internal controls are not sufficient to prevent and detect employee crimes. This concern comes even after more than 9 in 10 organizations (92%) addressed weaknesses or gaps in their internal controls within the past 12 months.
• Crime insurance is an essential tool. As the risk landscape continues to evolve, the strategic protection of insurance has become even more critical. Consequently, 87% of risk managers report that their organizations carry crime insurance coverage and 63% of organizations with crime insurance plan to increase coverage limits in the next 12 months.

More information about QBE’s Crime Insurance product is available at Management Liability | QBE US.

Survey Methodology
The survey was conducted by Wakefield Research among 200 U.S. risk managers at companies with a minimum of $500 million in annual revenue, between January 5, and January 15, 2026, using an email invitation and an online survey. All respondents have knowledge of employee crimes (e.g., theft, fraud, embezzlement, etc.) perpetrated at their organizations within the past three years.

About QBE North America
QBE North America is a global insurance leader that gets to the heart of what’s at risk for customers. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2025 of $7.7 billion. QBE Insurance Group’s results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 26 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn, Facebook and Instagram.