Theft, Disappearance, And Destruction Policy (FORM C)
Definition of "Theft, disappearance, and destruction policy (FORM C)"
Combination policy plan of fidelity insurance and crime insurance under five standard agreements:
- Insuring Agreement dishonesty of employees on either a COMMERCIAL BLANKET BOND or BLANKET POSITION BOND basis.
- Insuring Agreement coverage inside an insured's premises or a bank premises if money and securities are lost due to dishonesty, disappearance, or destruction.
- Insuring Agreement coverage of money and securities being transported by an insured's messenger outside an insured's premises if they are lost due to dishonesty, disappearance, or destruction.
- Insuring Agreement IV coverage if an insured accepts counterfeit U.S. or Canadian paper currency or money orders of no value.
- Insuring Agreement V coverage for depositor forgery if an insured's own commercial paper is forged or altered. Additional coverage's can be added through endorsement, including check forgery, paymaster robbery, broad form payroll robbery coverage both inside and outside an insured's premises, broad form payroll robbery coverage inside premises only, burglary and theft of merchandise, forgery of warehouse receipts, wrongful obstruction of securities or losses from safe deposit boxes, burglary of office equipment, theft of office equipment, paymaster robbery inside premises only, and forgery in use of credit cards.
Popular Insurance Terms
Coverage for exposures that exhibit a possibility of financial loss. ...
Insurance company's net gain from operations divided by its adjusted surplus. This is the accounting rate of return on stockholder's equity since the ratio shows the rate of return the ...
Premise that, out of a large group of people, a given number will die each year (conversely, a given number will remain alive each year) until all the people in that original group are ...
Record of debit or industrial insurance policies. ...
Value in life insurance policies that entitle the insured to these choices: to relinquish the policy for its CASH SURRENDER VALUE. (Note that in the beginning years the cash value may be ...
Policy similar to that of an individual universal life insurance policy except that the coverage is provided (up to a limit) without the requirement of the submission of evidence of ...
Hospital insurance program that provides medical professional liability insurance coverage to non employed hospital physicians. The objective of this means of insurance coverage is to ...
Coverage required by the laws of a particular state. For example, many states stipulate minimum amounts of automobile liability insurance that must be carried. ...
Annuity with no fixed schedule for payment of premiums. For example, premiums can be paid for 10 straight months, then not paid for the next 10 months, then paid every other month, or any ...
Have a question or comment?
We're here to help.