One of our company officers was leasing a truck (and using it as well) to the company. It was stolen while just south of the border. The truck was recorded as a loss to the company and trickled down to the officers personal returns according to ownership percentage. Since all three officers were affected by this loss to the company, but the company is still paying off the vehicle, would the one officer (leasing the truck) have to pay the company back, even if it was recorded as a loss to the company?

What about insurance?