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ARTICLE · 21 JUNE 2012

Insurance And Reinsurance Update - 5th June 2012

Clyde & Co
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Whether theft by employee fell within scope of an insurance policy/construction of insurance policies.

United KingdomInsurance
Nigel Brook
Nigel Brook
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Ted Baker Plc v Axa Insurance UK

Whether theft by employee fell within scope of an insurance policy/construction of insurance policies

http://www.bailii.org/ew/cases/EWHC/Comm/2012/1406.html

The insured discovered that one of its employees had been stealing stock from its warehouse and sought an indemnity from its insurers. The relevant insurance policy had a number of discrete sections including a Theft section which contained an endorsement providing that "the insurance by this Section extends to cover loss...resulting from theft or any attempt thereat but the Insured shall be responsible for the first £1,000...which does not involve entry to or exit from the Premises by forcible and violent means".

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