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Commercial crime insurance is insurance that covers?
- 1. Money and securities against numerous perils
- 2. Property other than money and securitiesagainst crime perils such as employee theft, robbery, theft by outsiders, and extortion.
Each coverage form and policy form comes in what 2 versions?
- 1. Discovery form
- 2. Loss sustained form
What is the descovery form?
Form that covers losses discovered during the policy period even though they may have occured before the policy period.
What is the loss sustained form?
Form that covers losses actually sustained during the policy period and discovered no later than one year after the policy.
What are the 8 basic crime insuring agreements?bery
- 1. Employee theft
- 2. Forgery or alteration
- 3. Inside the Premises-theft of money and securities
- 4. Inside the Premises-Robbery or safe burglary of other property