Which of the following is NOT considered a covered theft in a Commercial Crime policy?

In the context of a Commercial Crime policy, coverage typically extends to specific types of theft and dishonest acts that impact the financial stability of a business. Theft refers to the unlawful taking of property with intent to permanently deprive the owner of it.

Among the options provided, the situation involving the loss of inventory found missing during an audit is not classified as a theft under a Commercial Crime policy. This is primarily because such losses are often attributed to accounting errors or discrepancies rather than a clear instance of theft. Audits are designed to reconcile physical counts of inventory against recorded amounts, and missing items may simply reflect issues like loss through normal business operations (shrinkage due to spoilage or miscounting), rather than the fraudulent or dishonest acts that a Commercial Crime policy is meant to address.

In contrast, employee theft, robbery, and the fraudulent use of company credit cards all involve deceitful acts carried out with the intent of unlawfully taking possession of business property or funds. Each of these situations constitutes theft under the policy and generally qualifies for coverage. Thus, the correct answer lies in recognizing that not all inventory discrepancies or losses fall under the definition of theft in this context.