A term that is most often seen in marine insurance forms, used to refer to theft of items of little worth.
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Petty theft, especially theft of articles in less than package lots.
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Petty thievery, the taking of small parts of a whole. As used in marine insurance policies the term denotes petty thievery, the taking of small parts of a shipment, as opposed to the theft of a whole shipment or large unit. Many ordinary marine insurance policies do not cover against pilferage and when this coverage is desired, it must be added to the policy.
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UK: Theft unaccompanied by any attack on the premises often by persons lawfully on the premises. Pilferage is not usually covered under commercial theft policies; losses are low impact, high probability losses and therefore suitable for risk assumption and risk prevention, particularly by retailers. Pilferage by employees is a idelity guarantee insurance risk. In the marine cargo clause it has been held as: ‘the taking of a small part of the goods rather than of the whole. See FULL THEFT INSURANCE.