What is one of the significant exclusions under the Employee Theft coverage?

The significant exclusion under Employee Theft coverage is typically related to specific types of losses that are not covered by the policy. One of the primary exclusions is losses associated with inventory inspections. This is because inventory inspections are usually associated with accounting processes and may not directly relate to the act of employee theft. In the context of theft coverage, the focus is on unauthorized taking or removal of property by employees, rather than on discrepancies that arise from procedural operations like inventory checks.

In contrast, the other options pertain to different scenarios of theft or loss. Employee bonuses are generally considered compensation issues rather than theft-related losses. Losses occurring outside of operating hours may still be covered depending on other terms in the policy. Acts committed by former employees after a certain period might fall outside the scope of coverage based on the policy's definitions and conditions, but they are not directly linked to the more prevalent exclusions seen in employee theft policies like inventory inspection losses.