Principles of Risk Management and Insurance, 13th Edition

Review Questions

1. Define robbery, burglary, safe burglary, and theft.

2. Briefly describe the following insuring agreements in the commercial crime coverage form (loss-sustained form):

   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

   5. Outside the Premises

3. 1. 3. a. Explain the difference between the discovery form and the loss-sustained form.

   2. b. What is the purpose of the retroactive date endorsement that may be attached to a policy written on a discovery basis?

4. Identify the major exclusions in the commercial crime coverage form (loss-sustained form).

5. An important policy provision is called termination as to any employee. Explain the meaning of this provision. ...