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12 terms

Commercial Crime Definitions

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Burglary
The taking of property from inside the premises by a person unlawfully entering or leaving the premises as evidenced by forcible entry or exit.
Extortion
The surrender of property away from the premises as a result of a threat communicated to the insured to do harm to an insured or an employee or relative of either who is or allegedly is being held captive.
Robbery
Taking property from the care and custody of a person who has caused or threatened to cause bodily harm
Safe Burglary
The taking of property from within a locked safe or vault by a person unlawfully entering the safe as evidenced by visible marks of forced entry. Removal of safe from premises
Theft
Any act of stealing
Custodian
The named insured, any of the insured's partners or employees while having care of insured property within the premises. Does not include watcher or janitor.
Messenger
The named insured, any of his partners or employees while having care and custody of property outside of the premises.
Premises
The interior of that portion of any building occupied by the insured for the purpose of conducting business.
Watchperson
Any person the insured retains to have care and custody of the property inside the premises and who has no other duties
Money
Currency, coins, and bank notes in current use and having a face value and travelers checks, registered checks, and money orders held for sale to the public.
Securities
Negotiable and non-negotiable instruments or contracts representing either money or other property. Tickets, stamps in current use, evidences of debt.
Property other than money and securities
Any tangible property other than money and securities that has intrinsic value