Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed
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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Governmental And Nonprofit Entities

Authors: Jacqueline Reck, Suzanne Lowensohn, Daniel Neely

19th Edition

1260118851, 9781260118858

More Books

Students also viewed these Accounting questions

Question

3. An initial value (anchoring).

Answered: 1 week ago

Question

4. Similarity (representativeness).

Answered: 1 week ago