Even though the “theft by employees” section of a policy was not selected by the insured, the insured was covered under the “theft” section of the policy for theft by employees. “Theft” includes theft by employees unless this is excluded. The terms of the contract were not open to more than one interpretation nor was it plain that something had gone wrong with the wording. If this conclusion was wrong, the construction was not in any event contrary to business commonsense (Ted Baker Plc v Axa Insurance UK Plc).
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Construction of insurance policy
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Cisco Systems, Inc