Eighth Circuit -- Tactical Stop-Loss, LLC v. Travelers Casualty and Surety

 Where an insurance policy bars claims resulting from embezzlement by officers or those working with them, a claim basing a loss on the actions of a non-employee working with an officer is barred by the terms.

No need to look outside the four corners.

Reasonable expectations test of no avail.

Tactical Stop-Loss, LLC v. Travelers Casualty and Surety