theft insurance

theft insurance
Insurance against the risk of loss by theft. 29A Am J Rev ed Ins § 1333. A contract to indemnify against loss by thieves. Anno: 46 LRA (NS) 562; 47 LRA (NS) 296. Where the word "theft" is used in an insurance policy, without definition, it should be interpreted as liberally as possible to protect the insured. American Ins. Co. v Burson (CA5 Fla) 213 F2d 487, 48 ALR2d 1. The word "theft" in a policy insuring against loss by burglary, larceny, or "theft," is a broader term than "larceny," including wrongful deprivation of property by embezzlement or swindling. Fidelity & Casualty Co. v Wathen, 205 Ky 511, 266 SW 4, 41 ALR 844. The word "theft" is ordinarily synonymous with the word larceny. But even in jurisdictions where the act of the taker constitutes statutory larceny, it is usually held that there is no "theft," as the word is used in policies of insurance against theft, unless there is an intent to deprive the owner, not temporarily but permanently, of his property. Anno: 46 ALR 536. See automobile theft insurance.

Ballentine's law dictionary. . 1998.

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