1. [12 points] Hap's Place is a gift shop insured under the ISO Commercial Crime Coverage Form that includes these insuring agreements: - Employee Theft - Inside the Premises - Theft of Money and Securities - Inside the Premises - Robbery or Safe Burglary of Other Property - Outside the Premises Indicate which, if any, of those insuring agreements would cover each of the following losses. If a loss is not covered by one of the insuring agreements, explain why, and identify another insuring agreement, if any, that would have covered the loss. 1) An employee of Hap's voided the record of an actual sale and took the cash that had been deppsited in the cash register for that sale. 2) After receiving a lower raise than expected, a Hap's employee intentionally damaged store merchandise. 3) A Hap's employee was rumored to be secretly selling music boxes from Hap's inventory and pocketing the proceeds. The employee admitted no wrongdoing, but a physical inventory revealed that five such music boxes were unaccounted for, resulting in a $1,250 inventory shortage. 4) While a Hap's employee closed the store at the end of the evening, his friend was waiting in the store to give him a ride home. The friend stole a book of checks from the owner's office when the employee was busy in another part of the store. The next day, without any knowledge or collusion of the employee, his friend purchased $925 worth of merchandise at a nearby store by signing Hap's name to a stolen check. 5) While walking to the bank with a cash deposit, Hap's manager was robbed at gunpoint of $1,100. 6) An inexperienced sales clerk that Hap's had just hired accepted $150 of counterfeit currency in payment for merchandise. Hap's manager discovered the counterfeit currency several hours after the customer had left the store. 1. [12 points] Hap's Place is a gift shop insured under the ISO Commercial Crime Coverage Form that includes these insuring agreements: - Employee Theft - Inside the Premises - Theft of Money and Securities - Inside the Premises - Robbery or Safe Burglary of Other Property - Outside the Premises Indicate which, if any, of those insuring agreements would cover each of the following losses. If a loss is not covered by one of the insuring agreements, explain why, and identify another insuring agreement, if any, that would have covered the loss. 1) An employee of Hap's voided the record of an actual sale and took the cash that had been deppsited in the cash register for that sale. 2) After receiving a lower raise than expected, a Hap's employee intentionally damaged store merchandise. 3) A Hap's employee was rumored to be secretly selling music boxes from Hap's inventory and pocketing the proceeds. The employee admitted no wrongdoing, but a physical inventory revealed that five such music boxes were unaccounted for, resulting in a $1,250 inventory shortage. 4) While a Hap's employee closed the store at the end of the evening, his friend was waiting in the store to give him a ride home. The friend stole a book of checks from the owner's office when the employee was busy in another part of the store. The next day, without any knowledge or collusion of the employee, his friend purchased $925 worth of merchandise at a nearby store by signing Hap's name to a stolen check. 5) While walking to the bank with a cash deposit, Hap's manager was robbed at gunpoint of $1,100. 6) An inexperienced sales clerk that Hap's had just hired accepted $150 of counterfeit currency in payment for merchandise. Hap's manager discovered the counterfeit currency several hours after the customer had left the store
