Commercial PropertyQuestion 110 of 215
A bookkeeper at an accounting firm secretly diverts client payments into a personal bank account over two years. Which Commercial Crime insuring agreement directly responds to this loss?
a.Employee Theft
b.Computer Fraud
c.Inside the Premises — Robbery
d.Forgery or Alteration
Explanation
Employee Theft (formerly called Employee Dishonesty) is the insuring agreement that covers loss of money, securities, or other property resulting directly from theft committed by an employee acting alone or in collusion. Computer Fraud requires use of a computer to cause a transfer of property from inside the premises to a person or place outside, which is a different fact pattern.
Law Reference: ISO Commercial Crime Coverage Form — Employee Theft (Insuring Agreement 1)Practice all 215 questions free — no signup required.
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