Define a crime policy in terms of money and securities

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PostPosted: Mon Oct 17, 2005 4:33 am   Post subject: Define a crime policy in terms of money and securities  

Can anyone tell me what are money and securities in the commercial crime insurance policy? Thanks in advance.


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PostPosted: Mon Oct 17, 2005 11:04 am   Post subject: commercial crime policy  

Money generally includes notes, coins that are in the current use and having face value. On the other hand securities are covered for the value when you discover the loss at the close of the business day.

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fatman

Joined: 04 Oct 2005
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104.31 Dollars($)

PostPosted: Sat Dec 10, 2005 6:26 am   Post subject: money and securities  

Hello fatman.....

you are right. In addition to that I want to add some more info.



Securities are of two types: negotiable and non-negotiable. Used as contracts or instruments representing money. They act as evidences of debts issued in connection to credit or charge cards not issued by the insured.



Money also includes traveler's checks and registered checks and the money orders which are held for sale to the public.



Commercial crime coverage covers money and securities, stock and fixtures against burglary, theft or robbery both on and off the insured property.


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