Working for the Post Office and having alot of contact with the Inspection Service, I can give you some insight into how insurance works and internal theft. Yes it is true that theft does occur. The Post Office employs PEOPLE and peple do steal. JUST LIKE ANY OTHER SHIPPING COMPANY THAT EMPLOYS PEOPLE. I know, its an easy shot at the Government. I have been involved in the arrests and procesution of individuals involved in internal mail theft. It does happen. With that said, let it be know that there is much more fraud by shippers and receivers that I have been involved in than internal crime.

Also, so many people complain about how chips are missing from packages or are damaged. If people would prepare the package better, alot of the problems could be avoided. DON'T send chips in regular envelopes. You're jus asking for trouble. With the high speed equipment that handles letters, you are going to get chips being broken or lost. Use a padded bag and seal it with packing tape.
I get so mad when I have paid someone $1.50-$2.00 for shipping and get a plain envelope that is missing the chip or it comes snapped in half because someone wanted to make a little more profit and not use the shipping money to pay for a padded bag and tape to properly seal it.
Sorry, I will get off my soap box now. Just upsets me that it is always the Post Offices fault that chips are "Stolen" or "Lost" or damaged. I take pride in working for the Post Office and get a little upset when everyone thinks we all are a bunch of thieves.