Mercantile Open-stock Burglary Insurance
Definition of "Mercantile open-stock burglary insurance"
Coverage for damage or destruction of property due to a crime, and property lost due to a burglary, whether successful or attempted. An endorsement provides coverage for robbery and theft of merchandise. Coverage is provided for merchandise, equipment, fixtures, furniture left in the open on the business premises. There is a coinsurance basis of 40 to 80%. This policy has generally been replaced by current commercial crime coverage forms.
Popular Insurance Terms
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Theft of another's property by a person entrusted with that property. Coverage can be found under various bonding arrangements. ...
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