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I had close friends working in retail / warehouses who told the worst stories but I've never heard about insurance scams. If this was possible, more and more b

I had close friends working in retail / warehouses who told the worst stories but I've never heard about insurance scams. If this was possible, more and more businesses would do it, increasing the cost of insurance (for the insured and for everyone else in their business) until what you pay in insurance balances out what you scammed for. Sure, maybe one store could do it and get a bit more money than competitors or maybe they just all claim a little bit, part of which is real shoplifting, part is wrong data (whether intentionally wrong or not). Considering insurances are still standing and making more money than ever, what you say can't be more than anecdotal.

monocasa 5y ago
That's the whole point of essentially opening your books to the insurance company on as a regular a basis as corporate sees. They're a lot better than corporate at noticing 'systemic irregularities' that correspond to org charts, and have a financial interest in rooting them out. And insurance knows this and so gives you a better rate on it all because of the 'close relationship'. Additionally corporate typically values smooth revenue streams over strictly maximized revenue streams which is why they have insurance for shrink in the first place.