Which of the following is a universal exclusion in a Commercial Crime policy?

In the context of a Commercial Crime policy, the universal exclusion refers to specific types of coverage that are not included within the parameters of the policy. The option related to the theft of money or securities outside the insured premises while in the care of a messenger is correctly identified as a universal exclusion.

This exclusion makes sense because it outlines a particular risk that commercial crime policies generally do not cover. Instead, coverage for money and securities theft most commonly arises only when inside the premises or in specific situations agreed upon by the insurer. The reason for this exclusion is primarily due to the higher risks associated with transporting valuable items outside of a controlled or secure environment.

Other options, such as robbery in transit, employee theft, and burglary of a safe, are typically included within the coverage provided by commercial crime policies, although they may have limitations or specific conditions under which claims can be honored. Therefore, understanding the exclusions allows policyholders to better assess their coverage needs and to identify additional protective measures they may need to put in place.