Employee Dishonesty

We will pay for direct loss of or damage to Business Personal Property and "money" and "securities" resulting from dishonest acts committed by any of your employees acting alone or in collusion with other persons (except you or your partner) with the manifest intent to:

  1. Cause you to sustain loss or damage; and also
  2. Obtain financial benefit (other than salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions or other employee benefits earned in the normal course of employment) for:
    1. Any employee; or
    2. Any other person or organization.
We will not pay for loss or damage:
  1. Resulting from any dishonest or criminal act that you or any of your partners commit whether acting alone or in collusion with other persons.
  2. The only proof of which as to its existence or amount is:
    1. An inventory computation; or
    2. A profit and loss computation.
    3. The most we will pay for loss or damage in any one occurrence is the Limit of Insurance for Employee Dishonesty shown in the Declarations.
All loss or damage: (1) Caused by one or more persons; or (2) Involving a single act or series of related acts; is considered one occurrence

We will pay only for loss or damage you sustain through acts committed or events occurring during the Policy Period. Regardless of the number of years this policy remains in force or the number of premiums paid, no Limit of Insurance cumulates from year to year  or period to period.

This Optional Coverage does not apply to any employee immediately upon discovery by:

  1. You; or
  2. Any of your partners, officers or directors not in collusion with the employee; of any dishonest act committed by that employee before or after being hired by you.
We will pay only for covered loss or damage discovered no later than one year from the end of the Policy Period.

If you (or any predecessor in interest) sustained loss or damage during the period of any prior insurance that you could have  recovered under that insurance except that the time within which to discover loss or damage had expired, we will pay for it under this Optional Coverage, provided: (1) This Optional Coverage became effective at the time of cancellation or termination of the prior  insurance; and (2) The loss or damage would have been covered by this Optional Coverage had it been in effect when the acts or events causing the loss or damage were committed or occurred.

Usual Limits Available: 
$ 5,000; $ 10,000; $ 25,000; $ 50,000