declarations began on July 1, 20X1. On October 1, 20X1, access was denied to MDC for five
weeks by civil authorities because of fire damage to a shop right next door to MDC. The
resulting loss of business income that MDC sustained was $70,000, including a $5,000 loss for
the first 72 hours following the time of action by civil authority. After the first 72 hours, MDC
sustained $11,000 business income loss in week 1, $12,000 business income loss in week 2,
$13,000 bu - Answer✔✔-$50,000 of Martins dry cleaners business income would be covered
under the Business Income (and Extra Expense) Coverage Form. Coverage applies up to a
maximum of four consecutive weeks after the time of the action.
Which one of these is an example of a loss that would be covered under the Commercial Crime
Coverage Form? - Answer✔✔-Compensatory damages arising directly from a loss covered by
the policy would be covered under the Commercial Crime Coverage Form.
ABC, Inc., is a large, national retailer that sells a variety of consumer goods. ABC carries a
Commercial Package Policy that includes Insurance Service Office's Commercial Crime Coverage
Form (Loss Sustained) with the following insuring agreements: Employee Theft; Forgery or
Alteration; Inside the Premises—Theft of Money and Securities; and Inside the Premises—
Robbery or Safe Burglary of Other Property. The limit of insurance for each one of these insuring
agreements is $100,000 and the deductible per occurrence for each one of these insuring
agreements is $1,000. The policy year is 20X1.
During 20X1, two employees, Beth and Jim, in collusion, stole money and merchandise from
ABC. Beth and Jim stole money on May 1, 20X1 and August 13, 20X1. They also stole
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