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Principles of Risk Management and Insurance, 13th Edition by Michael McNamara, George E. Rejda

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Commercial Crime Coverage Form (Loss-Sustained Form)

The commercial crime coverage form (loss-sustained form) can be added to a commercial package policy to cover the crime exposures of business firms or purchased as a separate policy.

Basic Definitions

Most property crimes against business firms are due to robbery, burglary, or theft. The commercial crime coverage form has a lengthy definitions section that defines key terms. Robbery is the unlawful taking of property from the care and custody of a person by someone who (1) has caused or threatens to cause that person bodily harm or (2) has committed an obviously unlawful act witnessed by that person.

Burglary is not defined in the ISO commercial crime policy (loss-sustained form). However, ...

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