Employee Theft & Employee Dishonesty

The “Employee Theft & Employee Dishonesty” course is designed to help adjusters
enhance their knowledge, understanding, and professional competence of employee
theft and employee dishonesty insurance coverage principles. The module is
presented by Dee Studler, MAcc, CPA, CFF of SDC CPAs, LLC, and Marti Schimanski
of Westfield Insurance Co.

This course begins with an overview of basic
employee theft and employee dishonesty principles and definitions. The course
then navigates through the history of the Commercial Crime Policy, leading up to
modern Policy forms. Next, the course dives into a detailed review of specific
coverage doctrines, including the rights and responsibilities of both insurers
and their insureds as identified by the language of each Policy. The course
highlights common ISO Policy forms and endorsements along with their contents,
including covered losses, exclusions, timing elements, definitions, and more. The
course later culminates with a discussion of liability, ownership, and recovery
concepts.

After completing the course, the attendee will be able to
comprehend employee theft and employee dishonesty coverage concepts; describe the
history and objectives behind modern Commercial Crime Policies; recognize the
duties of the insurers, insureds, and principals in the event of loss; grasp the
basic components of Acknowledgement Letters, Reservation of Rights Letters, and
Proof of Loss Forms involved in an employee theft or employee dishonesty claim;
develop a claim timeline and claim chart to aid in claim processing; implement
learned strategies to investigate the Proof of Loss; define common Policy terms
including employee, theft, and dishonesty; understand important ISO Loss
Sustained Form and Employee Theft Endorsement coverages and exclusions; recognize
the limits of liability related to continuous and non-continuous insureds;
identify the ownership of property that is stolen; and avoid the common pitfalls
related to the transfer of rights and subrogation settlement agreements.

The course is designed for insurance professionals working in the area of
property adjusting.