GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Commercial Forgery Policy


Synonyms:commercial insurance, employee fraud insurance, forgery insurance
Filed Under: financial-banking, insurance
Tags: banking, insurance
 

Definition of commercial forgery policy

commercial forgery policy
1. 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.

Related Terms and Acronyms:

  • business crime insurance   Insurance that covers losses due to criminal acts perpetrated by customers or employees.
  • business insurance   An umbrella term for insurance that covers various losses that may arise due to the operation of a business.
  • commercial lines   A broad term referring to insurance policies for professionals, businesses, and other commercial establishments.
  • insurance policy   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.

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