Who is considered a custodian in commercial crime insurance?

“Custodian” shall mean the Insured, any of the Insured’s partners or any Employee while having care or custody of property inside the Premises, excluding any person while acting as a Watchperson or janitor.

Who of the following would be considered a custodian while having care and custody of company property inside the premises?

A custodian means the named insured, any of the insured’s partners, or any employee, while having care and custody of the property inside the premises.

Which of the following is an example of a completed forcible entry burglary?

Completed forcible entry—Force is used to successfully gain entry to a residence. Examples include breaking a window or slashing a screen. Completed unlawful entry—No force is used but the residence is entered by someone having no legal right to be on the premises.

Which of the following is included in the crime policy’s definition of securities?

Securities include Negotiable and non-negotiable instruments or contracts representing money or other property, including tokens, tickets, revenue stamps, and other stamps in current use, and evidences of debt in connection with charge or credit cards.

Which of the following definitions best defines the term accident?

noun. an undesirable or unfortunate happening that occurs unintentionally and usually results in harm, injury, damage, or loss; casualty; mishap: automobile accidents. Law. such a happening resulting in injury that is in no way the fault of the injured person for which compensation or indemnity is legally sought.

Which of the following would be included in the definition of burglary?

Burglary is typically defined as the unlawful entry into almost any structure (not just a home or business) with the intent to commit any crime inside (not just theft/larceny). No physical breaking and entering is required; the offender may simply trespass through an open door.

Which of the following is excluded from the definition of custodian in the Commercial crime Coverage part?

Which of the following is not covered by commercial crime insurance? … The insured, insured’s partner, or employees are considered custodians. The policy form specifically excludes anyone acting as watch person or a janitor from the definition of ‘custodian.

What are the two definitions of crime?

1 : an illegal act for which someone can be punished by the government especially : a gross violation of law. 2 : a grave offense especially against morality. 3 : criminal activity efforts to fight crime. 4 : something reprehensible, foolish, or disgraceful It’s a crime to waste good food.

What is third party crime coverage?

Third-party crime coverage will protect your business if it suffers direct losses due to criminal activity carried out by someone outside your company. To qualify as a third party, the perpetrator can’t own or be employed by the business, nor can they serve as the executive shareholders of the company.

Which of the following is not excluded under Part A of the CGL form?

Which of the following is NOT excluded under Part A of the CGL form? The mobile equipment exclusion applies to the transportation of mobile equipment by the insured. However operation of mobile equipment is not excluded unless for racing or stunting.

Which of the following is usually excluded under errors and omissions insurance?

insured – E&O insurance policies typically exclude claims between two parties who are insured under the same policy. Dishonest, criminal, fraudulent or malicious acts. Bankruptcy or insolvency of any party. Liability of others assumed under contract.

Which of the following is not an optional coverage under the Businessowners policy?

Which of the following is not an optional coverage under the BOP? Electronic data is an additional coverage, not an optional coverage.

Which of the following is excluded under Coverage A of the CGL?

Expected or intended bodily injury or third-party property damage= The Coverage A doesn’t include bodily injury or property damages which arise due to an act intended by the policyholder.

Which of the following is not included in the general aggregate limit?

The only circumstances in which the general aggregate limit does not apply is to damages because of bodily injury or property damage arising out of the products-completed operations hazard.

Which of the following is not covered under the condominium commercial unit owners coverage form?

The Condominium Commercial Unit-Owners Coverage covers each of the following, except: Personal property The unit-owners’ appliances cannot be owned by the insured to qualify for coverage, but the business personal property of the insured is covered.

What does CGL stand for in insurance?

Commercial General Liability
Business Insurance

A Commercial General Liability (CGL) policy protects your business from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees. It covers non-professional negligent acts.

Which is not protected by CGL?

Four of the exclusions covered above include: Damage to your product; damage to your work; property damage to impaired property; and recall of your products, your work, or impaired property. However, these are only four out of fifteen ordinary exclusions.

Is not covered by the CGL coverage b personal and advertising injury?

Claims that result from offenses (such as patent infringement) not included in the definition of personal and advertising injury aren’t covered. To be insured under Coverage B, a claim must seek damages for personal and advertising injury caused by an offense that arises out of your business.