In a message dated 2/3/01 7:33:40 AM Eastern Standard Time, jack@cocoinc.com
writes:
> I was also
> shocked to find out that employee theft is not covered in most insurance
> policies unless a special employee dishonesty clause is added, this is never
> mentioned until after the fact.
>
This is something to talk to you insurance agent about. If he wasn't
absolutely clear on this when he sold you the business policy, then 1) it may
be time to get a new agent; and 2) you may have an E&O cause of action
against him.
Employee Dishonesty (or Fidelity coverage) is not part of any standard
commercial property policy. This is a known industry standard. It requires
a separate crime or fidelity policy, or a special endorsement to the fire
policy. There are some carriers with an enhanced "garage" policy program
that will automatically include this, but it isn't standard.
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