In the context of employee theft, what does "scheduled person" refer to?

In the context of employee theft, a "scheduled person" refers to coverage that is designed specifically for individuals who are designated in the insurance policy. This means that the insurance policy explicitly lists certain employees who are covered under the terms of theft-related claims. By naming specific individuals, the insurer can provide tailored coverage that acknowledges the unique risk associated with those persons, often based on their roles and responsibilities within the organization.

This type of coverage allows businesses to create a more precise liability envelope, ensuring that they are protected against losses due to theft committed by identified employees. It essentially recognizes that not all employees carry the same level of risk related to theft, and therefore, specific individuals can be singled out for coverage based on their position or trustworthiness.

This contrasts with options that suggest coverage for all employees uniformly, or for employees actively working at a specific location, which would not provide the same level of detailed protection that a scheduled person designation does. By focusing on those explicitly listed in the policy, this approach enhances the insurer's ability to manage risk and provides the insured with peace of mind regarding their high-risk personnel.