Commercial Forgery Policy
Definition
- An insurance policy that provides coverage for businesses who unwittingly accept forged or counterfeit checks as payment. A commercial forgery policy, which is primarily sold by casualty and property insurers, is valuable for retail merchants, especially for those located in high-crime areas.
Synonyms
forgery insurance, employee fraud insurance, commercial insurance
Related Terms and Acronyms
- Business Crime Insurance — Definition,
- Insurance that covers losses due to criminal acts perpetrated by customers or employees.
- Business Insurance — Definition,
- An umbrella term for insurance that covers various losses that may arise due to the operation of a business.
- Commercial Lines — Definition,
- A broad term referring to insurance policies for professionals, businesses, and other commercial establishments.
- Insurance Policy — Definition,
- A legal contract between an insurer and entity that specifies what the insurer is required to cover and any benefits the insured entity is entitled to.
