Most insurance policies for retail stores do Not cover shoplifting or looting or smash and grabs.
Now if the thieves pulled out a gun and robbed the place (armed robbery) that would be covered.
That’s why Big Chain stores decided to close rather than take continued losses.
If someone in a normal State was found guilty of shoplifting, often that’s where and when a retailer can try to recoup losses by order of the court, as part of the perp’s punishment.
The word you are searching for is "sack".