Answered step by step
Verified Expert Solution
Question
1 Approved Answer
36) Bishop Appliance Store is covered by a commercial crime insurance policy. The policy provides coverage for Employee Theft on a blanket basis. When the
36) Bishop Appliance Store is covered by a commercial crime insurance policy. The policy provides coverage for "Employee Theft" on a blanket basis. When the store owner arrived to open the store for business one morning, he discovered that many small electrical appliances were missing. A surveillance tape showed a company employee had disabled the burglar alarm before leaving work, and had returned to the store later and had taken the appliances. Which of the following statements regarding this loss is true? A) There is no coverage under "Employee Theft" as the loss was property, not money. B) There is no coverage as it requires that the employee be caught while committing the theft. C) There is no coverage as the employee was not specifically named in the policy. D) There is coverage because "Employee Theft" includes coverage for property
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started