QuestionJuly 17, 2025

When reviewing the office accounts payable Dr. Vincent notices that one of his office managers has been writing checks from the account for their personal use. There were three checks made out to them that totaled 500 Luckily, he has insurance to cover the 500 checks they wrote. What type of insurance does Dr. Vincent have? a. General liability b. Property c. Directors and officers (D& 0) liability

When reviewing the office accounts payable Dr. Vincent notices that one of his office managers has been writing checks from the account for their personal use. There were three checks made out to them that totaled 500 Luckily, he has insurance to cover the 500 checks they wrote. What type of insurance does Dr. Vincent have? a. General liability b. Property c. Directors and officers (D& 0) liability
When reviewing the office accounts payable Dr. Vincent notices that one of his office managers has been writing checks from the account for their personal use. There were three checks made out to them that totaled 500 Luckily, he has insurance to cover the 500 checks they wrote. What type of insurance does Dr. Vincent have? a. General liability b. Property c. Directors and officers (D& 0) liability

Solution
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Answer

d. Crime Explanation 1. Identify the Insurance Type The situation involves an employee committing theft or fraud by writing checks for personal use. This is typically covered under **crime insurance**, which protects businesses from losses due to criminal acts such as theft, fraud, or embezzlement.

Explanation

1. Identify the Insurance Type<br /> The situation involves an employee committing theft or fraud by writing checks for personal use. This is typically covered under **crime insurance**, which protects businesses from losses due to criminal acts such as theft, fraud, or embezzlement.
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