How much would an employer recover under a blanket position bond of $5,000 for two employees and an excess of $10,000 for a bookkeeper, if the employees conspire to steal $32,500?

In the scenario presented, the employer has a blanket position bond of $5,000 that covers up to two employees, as well as an excess bond specifically for a bookkeeper that goes beyond a standard amount by an additional $10,000.

Since the two employees conspire to steal a total of $32,500, the employer would claim against the blanket bond first. The maximum recovery amount available under this bond for the two employees is $5,000.

Now, considering the specific role of the bookkeeper, if they are also implicated in the theft and the bond allows for additional coverage up to $10,000, that would apply since the amount stolen exceeds the total coverage available. However, since the case exceeds the bonded amount for the employees, the amount recoverable would be limited by the bond terms.

In total, the employer would be eligible to recover the full $5,000 from the blanket position bond for the theft committed by the employees, and then an additional amount possibly related to the bookkeeper’s coverage—if applicable.

The total recovery would depend on how the bonds work together in this scenario. Considering that the scenario primarily concerns the theft amount and its relation to the coverage limits, the maximum recoverable amounts from