Question

A travel agency discovers that it has been charged for payments to a print shop drawn on checks written by an unknown third party masquerading as the travel agency comptroller. Under which Commercial Crime insuring agreement would this loss be covered?

Answer 1

Answer:

Forgery or Alteration Coverage Form.

Explanation:

The travel agency loss would be covered under Forgery or Alteration coverage form.

Under Commercial Crime insuring agreement, It insures an individual or business against the forgery or alteration of financial instruments e.g promissory notes, drafts, and checks with respect to payment of a sum of money that was made or drawn by the insured or anyone acting on his/her behalf such as next of kin.

Answer 2

Answer:

Forgery / alteration

Explanation:

Crime insurance policies are designed to provide coverage against loss of assets, including money and securities, resulting from theft (employee or third party), dishonesty and fraud.

Fraud includes computer fraud, impersonation fraud and forgery or alteration of promissory notes, checks  and any other type of document that may result in a payment of any amount of money.