We have an employee who was accused of a previous embezzlement at her prior employer. We have put in place strong controls with the employee to ensure that no funds are stolen. Is there anything else we should do?

The insurance coverage is very clear on this point. If you, as an insured, are aware of a theft, forgery, or other fraudulent, dishonest, or criminal act committed by this employee while employed by your organization, there is no coverage for this individual. If you chose to employ a person with a previous record of theft or forgery, he/she will need to be placed in a position where he/she does not have access to any funds. Additionally, if an insured becomes aware of a theft, forgery, or other fraudulent, dishonest, or criminal act committed by an employee involving money, securities, or other property valued over $25,000 prior to their employment with your organization, there is no coverage for this person under the Crime coverage.