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Commercial Crime Coverage

Theft, Disappearance and Destruction


Theft means any act of stealing.

Disappearance is unknown causes of loss. Disappearance lacks the elements of knowing if the crime was a theft, burglary or robbery.

Destruction is the loss of certain property, it is usually the result of another cause of loss.

Section (1) of the form covers money and securities against loss by theft, disappearance, or destruction inside the premises. Section (2) covers money and securities outside the premises in the care and custody of a messenger.

Robbery and Safe Burglary
Robbery is the taking of property from a person by the threat of personal injury to that person.

Safe Burglary is a specific kind of burglary that means the taking of property from a safe or vault which shows visible signs of forcible entry.

This form covers property other than money and securities inside and outside the premises. Property other than money and securities is covered while outside the premises and only in the care and custody of a messenger. Coverage inside the premises is for loss or damage resulting from robbery of a custodian or from safe burglary. A custodian is the named insured or a partner or employee of the insured.

Premises Burglary
Covers property other than money and securities inside the premises. It also covers damage to the insured's premises resulting from a covered cause of loss.

 

Computer Fraud
Computer fraud is a specialized kind of theft where a computer is used to steal property from it's rightful owner.

This form covers money and securities and property other than money and securities.

 

Extortion
Extortion is the surrender of property away from the premises as a result of a threat of bodily harm to someone who is, or allegedly is, being held captive.

This form covers money and securities and property other than money and securities.

Premises Theft & Robbery Outside
Section (1) covers property other than money and securities inside the premises for loss caused by actual or attempted theft. Section (2) Robbery Outside the premises covers property other than money and securities while it is in the care and custody of a messenger.

Forgery or Alteration
Forgery is generating a document or signature that is not genuine.

Alteration is changing a document in a manner that is neither authorized nor intended.

This form insures against loss caused by the forgery or alteration of a covered item drawn against the insured's accounts. A covered item might be a check, draft, promissory note, bill of exchange or similar instrument.

Independent Food and Beverage Insurance Brokers, Inc. has been catering to the restaurant, tavern, and beverage insurance industries since 1993, servicing over hundreds of customers. Even though you probably have insurance already, it's important that you have a highly experienced insurance professional to review your policy.

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