Commercial Crime Coverage Form

Definition of "Commercial crime coverage form"

Type of commercial insurance that provides coverage for the business under the following policy forms:

  1. Form A employee dishonesty involving money, securities, and other properties and may be written on a BLANKET INSURANCE or Scheduled POLICY basis.
  2. Form B forgery or alteration involving outgoing checks, drafts, promissory notes, and other similar financial instruments.
  3. Form C theft, disappearance, and destruction of money and securities.
  4. Form D robbery and safe burglary (property excluding money and securities) involving losses inside or outside the premises of the insured business.
  5. Form E premises burglary involving property (excepting money and securities) inside the premises of the insured business.
  6. Form F computer fraud involving money, securities, and property other than money and securities.
  7. Form G extortion involving money, securities, and property that does not include money and securities.
  8. Form H premises theft and robbery outside premises other than money and securities.
  9. Form I lessees of safe deposit boxes involving theft, disappearance, or destruction of securities or property other than money and securities while in a vault or during the deposit or withdrawal from a safe deposit box on the premises of the insured.
  10. Form J securities deposited with others involving theft, disappearance, or destruction of securities that are on the inside of the premises of a custodian (party to which the insured has transferred the securities), or while the securities are outside the premises of the custodian in the possession of an employee of the custodian, or while the securities have been deposited by the custodian into a depository.
  11. Form K liability for guest's property in a safe deposit box involving property damage or loss.
  12. Form L liability for guest's property while on the premises of the business or in the possession of the business involving loss or damage to that property.
  13. Form M safe depository liability involving loss, damage, or destruction to the customer's property while on the premises of the business in a safe deposit box, in a vault, or while being transferred to and from safe deposit boxes or vaults. The legal liability of the business for the customer's loss has to be established.
  14. Form N safe depository direct loss involving loss, damage, or destruction of the customer's property while on the premises of the business in a safe deposit box, in a vault, or while being transferred to and from safe deposit boxes or vaults. The legal liability of the business for the customer's loss does not have to be established.
  15. Form O public employees' dishonesty for loss involving money, securities, or property that does not include money and securities.This form is usually written to provide coverages for public entities such as schools and universities.
  16. Form P public employees' dishonesty for employee involving money, securities, or property that does not include money and securities. This form is usually written to provide coverages for public entities such as cities, public utilities, and public hospitals.
  17. Form Q robbery and safe burglary of money and securities when in the custody of the custodian inside the premises, or when in the custody of a messenger outside the premises.
  18. Form R money orders and counterfeit paper currency involving their acceptance in good faith by the business in exchange for money, services, or merchandise.
The above 18 coverage forms can be combined in various ways to produce numerous plans of insurance.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Requirement that the combination of medicare and the employer's plan can not be greater than the amount the employer's plan would pay without Medicare. ...

Damage of property that is not total; average (in sense of partial) loss. ...

Special-purpose health insurance policy that covers an insured for accidents while traveling. The policy may cover the insured for one specific trip or one particular type of travel, or it ...

Policy clause that excludes coverage for loss of property if the cause of the loss cannot be identified. Mysterious disappearance is an exclusion in a standard inland marine insurance ...

Annual premium expressed on a proportionate basis such as monthly, quarterly, or semiannually. ...

Bill that allows the insurance company to include a clause in its policy that permits the policyholder to make a policy loan at a variable interest rate on new policies. Under this clause, ...

Ratio of net income after taxes to total end of the year net worth. This ratio indicates the return on stockholder's total equity. ...

Proposal, endorsed by then-President Bush and Secretary of the Treasury Nicholas Brady, which expands in a significant manner the number of individuals who could take advantage of the ...

Rules passed as part of the tax reform act of 1986 that limit the amount of income investors can shelter from current tax. Losses can be deducted from passive activities only in the amount ...

Popular Insurance Questions