Author Question: Which of the following statements is true regarding covered losses under the commercial crime ... (Read 92 times)

dollx · **on:** Jul 11, 2018

Which of the following statements is true regarding covered losses under the commercial crime coverage form?

A) Theft committed by business partners of the named insured is covered.
B) Money surrendered as a result of an extortion threat is covered.
C) A loss that results from disclosure of confidential business information, such as a patent to trade secret, is covered.
D) Liability associated with data security breaches is excluded.

Question 2

Two tellers of a Tenth National Bank branch colluded to embezzle 40,000 over a six-month period. State bank examiners detected the embezzlement during a routine bank examination. Tenth National purchased a financial institution bond.

Under which of the following insuring agreements is this loss covered?
A) Insuring Agreement AFidelity
B) Insuring Agreement BOn Premises
C) Insuring Agreement CIn Transit
D) Insuring Agreement DForgery or Alteration