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Commercial Crime Insurance 9.17 8-2. Country Style Kitchen, Inc. (CSK) is a restaurant. At closing time, the manager on duty counts the cash cheeks, and credit card receipts in the cash register. The manager leaves $1,000 in the register drawer and prepares a deposit. During any shift, a cashier, the receptionist, the manager, and any of the waitresses are allowed access to the cash drawer. CSK purchased an annual commercial package policy that includes ISO's Commercial Crime Coverage Form (Loss Sustained Form). CSK selected these insuring agreements, each with a $1,000 deductible: Employee Theft with a limit of $100,000, Inside the Premises. Theft of Money and Securities with a limit of $20,000, and Outside the Premises with a limit of $20,000. Four months after the crime coverage was in force, a manager caught a wait- ress, Janelle, stealing $1,500 from the register drawer. a. Given the facts presented in the case, use the DICE method to deter- mine whether the commercial crime form will cover the loss. Assume no endorsements to CSK's policy affect the coverage in the loss; the insured reported each loss to its crime insurer promptly after discovering it, cooper- ated with the insurer, and maintained records of all property covered under the policy, and no exclusions apply. The declarations confirm that cover- age was in force. If the loss is covered, identify the insuring agreement that would provide coverage and the amount the insurer would pay for the loss. If the loss is not covered, explain the reason b. CSK's general manager decided to give Janelle another chance and did not fire her. Six months after the first loss, Janelle was caught stealing $900 from the cash register. Explain why CSK's crime policy would not cover this loss Commercial Crime Insurance 9.17 8-2. Country Style Kitchen, Inc. (CSK) is a restaurant. At closing time, the manager on duty counts the cash cheeks, and credit card receipts in the cash register. The manager leaves $1,000 in the register drawer and prepares a deposit. During any shift, a cashier, the receptionist, the manager, and any of the waitresses are allowed access to the cash drawer. CSK purchased an annual commercial package policy that includes ISO's Commercial Crime Coverage Form (Loss Sustained Form). CSK selected these insuring agreements, each with a $1,000 deductible: Employee Theft with a limit of $100,000, Inside the Premises. Theft of Money and Securities with a limit of $20,000, and Outside the Premises with a limit of $20,000. Four months after the crime coverage was in force, a manager caught a wait- ress, Janelle, stealing $1,500 from the register drawer. a. Given the facts presented in the case, use the DICE method to deter- mine whether the commercial crime form will cover the loss. Assume no endorsements to CSK's policy affect the coverage in the loss; the insured reported each loss to its crime insurer promptly after discovering it, cooper- ated with the insurer, and maintained records of all property covered under the policy, and no exclusions apply. The declarations confirm that cover- age was in force. If the loss is covered, identify the insuring agreement that would provide coverage and the amount the insurer would pay for the loss. If the loss is not covered, explain the reason b. CSK's general manager decided to give Janelle another chance and did not fire her. Six months after the first loss, Janelle was caught stealing $900 from the cash register. Explain why CSK's crime policy would not cover this loss
