All of the following terms describe a loss covered by a commercial crime policy, except:

a. Covers a loss that was discovered within one year of the termination of the policy period

b. Covers a loss that was discovered during the policy period

c. Might require the use of a Retroactive Date

d. Covers a loss that did not necessarily occur during the policy period

Question

Rebekah Snow

Social Studies

30 January, 19:09

All of the following terms describe a loss covered by a commercial crime policy, except:

a. Covers a loss that was discovered within one year of the termination of the policy period

b. Covers a loss that was discovered during the policy period

c. Might require the use of a Retroactive Date

d. Covers a loss that did not necessarily occur during the policy period

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Answers (1)

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Joseph Holden · Answer 1

The following terms describe a loss covered by a commercial crime policy except:

a. Covers a loss that was discovered within one year of the termination of the policy period.

Explanation:

All of the given statements except "covers a loss that was discovered within one year of the termination of the policy period." belongs to the Discovery crime coverage form. A discovery crime coverage can provide a loss that was discovered during the policy year and also that was not necessarily occurred during the policy period. A discovery crime coverage form might require the use of a retroactive date.