Canadian Accredited Insurance Broker (CAIB) Two Practice Exam

What are the two areas contained in the definition of Safe Burglary?

1. Unlawful entry and theft of valuables

2. Alarm activation and police notification

3. Unlawful taking of property from a vault or safe

4. Ownership of the safe and location

The correct answer is: Unlawful taking of property from a vault or safe

The definition of Safe Burglary specifically pertains to criminal activities involving safes or vaults. It emphasizes the unlawful act of taking property, highlighting the specific context in which this occurs—namely, from a locked safe or vault. This definition is crucial for understanding insurance coverage related to burglaries, as policies often require explicit wording that clearly describes the crime involved. In the context of this question, the focus is on the act of illegally accessing a safe and stealing its contents, which addresses both the methods used and the specific target (the safe). The other options touch on different aspects of crime or security, but they do not capture the specific nature of Safe Burglary as defined in the insurance realm. Understanding this definition is critical for accurately assessing risks and coverage in insurance policies.