Laserfiche WebLink
CRIME DEFINITIONS <br /> Employee Dishonesty Employee dishonesty is considered to be a criminal act <br /> committed by an employee acting alone or in collusion <br /> with others. There must be intent by the employee to cause <br /> the employer a loss and to obtain a financial benefit for the <br /> employee or someone else. Coverage is provided for <br /> dishonest acts of employees of the named insured only. <br /> Coverage insures against loss of money, securities, and <br /> property other than money and securities. The blanket <br /> form provides coverage for dishonest acts of all employees. <br /> The limit for blanket coverage applies per loss, regardless <br /> of how many employees are involved. The scheduled form <br /> provides coverage only for the dishonest acts of employees <br /> specifically listed in the policy. On the scheduled form, a <br /> separate limit applies to each employee listed on the <br /> schedule. <br /> Forgery or Alteration Forgery is generating a document or signature that is not <br /> genuine. <br /> Alteration is changing a document in a manner that is <br /> neither authorized nor intended. <br /> This form insures against loss caused by the forgery or <br /> alteration of a covered item drawn against the insured's <br /> accounts. A covered item might be a check, draft, <br /> promissory note, bill of exchange or similar instrument. <br /> Theft, Disappearance & Theft means any act of stealing. <br /> Destruction <br /> Disappearance is unknown causes of loss. Disappearance <br /> lacks the elements of knowing if the crime was a theft, <br /> burglary or robbery. <br /> Destruction is the loss of certain property, it is usually the <br /> result of another cause of loss. <br /> Section (1) of the form covers money and securities <br /> against loss by theft, disappearance, or destruction inside <br /> the premises. Section (2) covers money and securities <br /> outside the premises in care and custody of a manager. <br /> 57 <br />