RIBO Level 1 考试中，Code of Conduct（行为准则） 是 Regulation 991 最重要的内容之一，每年几乎都会考 2–5 题，而且很多都是情景题（Scenario Questions）。

RIBO Code of Conduct（考试必背）

记住一句话：

Always put the client’s interest first.
永远把客户利益放在第一位。

1. Act with Integrity（诚信）

Broker 必须：

• 诚实（Honest）
• 公平（Fair）
• 有道德（Ethical）
• 不得欺骗客户

例如：

❌ 为了成交故意隐瞒免责条款

❌ 告诉客户”一定赔”

都是违反 Code of Conduct。

2. Be Competent（专业能力）

Broker 必须：

• 保持专业知识
• 了解保险产品
• 不懂不能乱回答
• 必须持续学习（Continuing Education）

例如：

客户问 Commercial Liability。

Broker 根本不会，却随便回答。

→ 违反 Code。

3. Act in Client’s Best Interest（客户利益优先）

Broker 应：

推荐最适合客户的保险。

不是：

推荐佣金最高的保险。

例如：

A公司保费：

$1,000

佣金15%

B公司：

$900

保障一样

佣金10%

Broker 推荐 A

只是为了佣金。

违反 Code。

4. Disclosure（充分披露）

Broker 必须告诉客户：

• 保额
• Deductible
• Exclusions
• Conditions
• Premium
• Material Facts

不能故意省略。

例如：

客户不知道 Flood 不赔。

Broker 没说。

违反 Code。

5. Avoid Conflict of Interest（避免利益冲突）

Broker 不可以：

让自己的利益影响建议。

例如：

卖自己亲戚公司的保险，

却不告诉客户。

违反。

6. Confidentiality（保密）

客户资料必须保密。

例如：

收入

驾照

SIN

Claim History

Health

不能：

告诉别人

分享到朋友圈

卖给 Marketing 公司

7. Prompt Service（及时服务）

Broker 应：

及时：

• 回复电话
• 回复Email
• 办理变更
• 办理索赔

例如：

客户要求取消保险。

Broker 拖了两星期。

客户出事故。

Broker 有责任。

8. No Misrepresentation（不得误导）

Broker 不可以：

• 虚假宣传
• 夸大保障
• 隐瞒免责
• 作假文件

例如：

说：

“这个保险什么都赔。”

违反。

9. Explain Coverage Clearly（解释保障）

Broker 应让客户知道：

包括什么

不包括什么

Limit

Deductible

Endorsement

Example：

客户以为 Sewer Backup 包含。

实际上没买。

Broker 从未解释。

违反。

10. Maintain Professionalism（专业行为）

包括：

• 礼貌
• 尊重客户
• 不歧视
• 不骚扰
• 不辱骂

RIBO 最爱考的情景题

题目1

Broker 推荐佣金最高产品。

违反哪项？

✅ Client’s Best Interest / Conflict of Interest

题目2

Broker 忘记告诉客户 Deductible。

违反？

✅ Disclosure

题目3

Broker 把客户资料告诉朋友。

违反？

✅ Confidentiality

题目4

Broker 不懂 Commercial Insurance，

却告诉客户：

“放心，都赔。”

违反？

✅ Competence + Misrepresentation

题目5

客户要求取消保险，

Broker 忘了处理。

违反？

✅ Prompt Service

考试高频关键词（看到就联想）

考前 30 秒口诀（必背）

诚实（Integrity）
专业（Competence）
客户第一（Client First）
充分披露（Disclosure）
保密（Confidentiality）
避免利益冲突（Conflict of Interest）
及时服务（Prompt Service）
不得误导（No Misrepresentation）
解释保障（Explain Coverage）
专业行为（Professionalism）

考试技巧： RIBO Level 1 的 Code of Conduct 很少考死记硬背，更常考的是情景题。遇到题目时，先问自己：

1. 客户利益有没有放在第一位？
2. Broker 有没有诚实、完整地说明事实？
3. Broker 有没有尽到专业和及时服务的责任？

大多数 Code of Conduct 题目都可以用这三个判断原则快速锁定正确答案。

我们来做一套 RIBO Level 1 – Regulation 991 真题风格陷阱题（第1套）。

规则：

• 共 15题
• 难度：⭐⭐⭐⭐⭐（接近正式考试）
• 很多题故意设置”看起来都对”，考的是 Regulation 991 的细节。
• 先不要看答案，做完我会逐题讲解，并告诉你为什么其他选项错。

1.

A newly incorporated brokerage has equity of $4,500 and otherwise meets all regulatory requirements.

Which statement is MOST accurate?

A. It meets the capital requirement.

B. It may fail to meet the minimum capital requirement.

C. It only needs Fidelity Insurance.

D. Capital requirements apply only to sole proprietors.

2.

The primary purpose of the Financial Position Report is to:

A. Calculate the brokerage’s income tax.

B. Show the brokerage’s financial condition to RIBO.

C. Report all customer claims.

D. Calculate commissions earned by brokers.

3.

A brokerage’s fiscal year ended on December 31.

By when must the Financial Position Report normally be filed?

A. January 31

B. February 28

C. March 31

D. June 30

4.

Who is responsible for filing the Financial Position Report?

A. Every registered broker

B. Every insurer

C. The brokerage

D. The brokerage manager only

5.

Which insurance primarily protects the brokerage against employee theft?

A. CGL

B. Property Insurance

C. Fidelity Insurance

D. E&O Insurance

6.

A broker forgets to submit a client’s application before the deadline.

Which insurance is MOST likely to respond?

A. Fidelity Insurance

B. E&O Insurance

C. Crime Insurance

D. Commercial Property

7.

Which statement about Fidelity Insurance is TRUE?

A. It protects customers directly.

B. It covers all employee mistakes.

C. It protects the brokerage against employee dishonesty.

D. It replaces E&O Insurance.

8.

Which of the following is generally required before placing business with an unlicensed insurer?

A. Written consent from the customer.

B. The customer must be over age 18.

C. The insurer must have an Ontario office.

D. The premium must exceed $10,000.

9.

Which statement regarding Ontario automobile insurance is MOST accurate?

A. It may always be placed with an unlicensed insurer.

B. It may never be placed with an insurer.

C. Mandatory Ontario automobile insurance generally cannot be placed with an unlicensed insurer.

D. It can be placed with any foreign insurer.

10.

Which of the following would MOST likely constitute misconduct?

A. Explaining policy exclusions.

B. Comparing policies honestly.

C. Misleading advertising.

D. Recommending higher limits when justified.

11.

Which statement best describes the purpose of E&O Insurance?

A. To insure office furniture.

B. To protect against employee theft.

C. To protect against negligence or professional errors.

D. To guarantee business profits.

12.

A brokerage has maintained valid E&O Insurance but allows its Fidelity Insurance to lapse.

Which statement is MOST accurate?

A. There is no regulatory concern.

B. The brokerage may no longer comply with Regulation 991.

C. Only the insurer is affected.

D. The Financial Position Report replaces Fidelity Insurance.

13.

Which of the following is NOT normally included in a Financial Position Report?

A. Assets

B. Liabilities

C. Equity

D. Customer driving records

14.

Which statement about minimum capital is CORRECT?

A. It is intended to cover all operating expenses.

B. It is a regulatory minimum, not an estimate of operating costs.

C. Every brokerage must maintain at least $100,000.

D. It is calculated from annual commissions only.

15.

A brokerage satisfies all licensing requirements except that it no longer maintains the required E&O Insurance.

Which statement is MOST accurate?

A. Registration is unaffected.

B. The brokerage may no longer meet Regulation 991 requirements.

C. Only customers are affected.

D. The Financial Position Report will automatically replace the missing insurance.

请按下面格式作答：

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

11.
12.
13.
14.
15.

评分标准：

• 13–15 分：正式考试 Regulation 991 基本没问题。
• 10–12 分：通过概率较高，但还有几个陷阱点需要加强。
• 9 分以下：建议重点复习 E&O、Fidelity、Financial Position Report、Unlicensed Insurers 这四个高频章节。

下面这套是我按照 RIBO Level 1 正式考试风格设计的。

特点：

• ⭐⭐⭐⭐⭐ 难度（比刚才高一级）
• 一题涉及多个知识点
• 很多选项都是”看起来都对”
• 正式考试经常这样出

仍然不要看答案，做完我给你逐题分析。

RIBO 综合陷阱题（第2套）— 15题

1.

A brokerage receives a client’s premium payment. An employee steals the money before it is forwarded to the insurer.

Which policy would MOST likely respond to the brokerage’s financial loss?

A. Commercial Property

B. E&O Insurance

C. Fidelity Insurance

D. CGL

2.

A broker accidentally tells a client that flood damage is covered under a commercial property policy. After a flood loss, the client discovers there is no coverage.

Which insurance would MOST likely respond?

A. Fidelity Insurance

B. E&O Insurance

C. Property Insurance

D. Crime Insurance

3.

Which of the following BEST explains why Regulation 991 requires brokerages to maintain minimum capital?

A. To guarantee annual profits.

B. To ensure brokerages have unlimited financial resources.

C. To establish a minimum financial standard for regulatory purposes.

D. To replace E&O Insurance.

4.

A brokerage has:

• Valid E&O Insurance
• Valid Fidelity Insurance
• Negative equity
• Files its Financial Position Report on time

Which issue would MOST concern RIBO?

A. Filing on time

B. Maintaining Fidelity Insurance

C. The brokerage’s financial condition

D. Having E&O Insurance

5.

Which statement is TRUE regarding Financial Position Reports?

A. Every broker files one.

B. Every insurance company files one with RIBO.

C. The brokerage files one after each policy renewal.

D. The brokerage files one annually after its fiscal year end.

6.

A brokerage wishes to place coverage with an unlicensed insurer.

Which condition is MOST important?

A. The premium exceeds $5,000.

B. The client provides informed written consent after being advised of the circumstances.

C. The broker prefers the foreign insurer.

D. The insurer has a larger office.

7.

Which situation would MOST likely be considered misconduct?

A. Explaining exclusions carefully.

B. Recommending additional coverage after assessing the client’s needs.

C. Advertising that “all claims are guaranteed to be paid.”

D. Comparing deductibles accurately.

8.

A brokerage maintains exactly $5,000 in capital but has outstanding liabilities that substantially exceed its available assets.

Which statement is MOST accurate?

A. The brokerage automatically complies because it has $5,000.

B. RIBO may still be concerned about its financial condition.

C. Capital requirements apply only to sole proprietorships.

D. The Financial Position Report is no longer required.

9.

Which policy protects against a broker’s professional negligence?

A. Fidelity Insurance

B. E&O Insurance

C. Property Insurance

D. Crime Insurance

10.

Ontario mandatory automobile insurance is generally placed with:

A. Any insurer worldwide.

B. Only unlicensed insurers.

C. Licensed insurers.

D. Any insurer chosen by the customer.

11.

A broker intentionally hides an important exclusion in order to complete a sale.

This is BEST described as:

A. An honest mistake.

B. Misconduct.

C. A Fidelity claim.

D. An underwriting issue.

12.

Which of the following would MOST likely appear on a Financial Position Report?

A. Customer driving records.

B. Claims history.

C. Assets, liabilities, and equity.

D. Automobile deductibles.

13.

Which statement BEST describes the relationship between Fidelity Insurance and E&O Insurance?

A. They insure the same risk.

B. One replaces the other.

C. Fidelity covers dishonesty; E&O covers negligence.

D. Fidelity covers customers directly.

14.

A brokerage forgets to renew its required E&O Insurance but continues operating.

Which statement is MOST accurate?

A. No problem until a claim occurs.

B. The brokerage may no longer comply with Regulation 991.

C. Fidelity Insurance automatically replaces E&O.

D. Customers must purchase separate E&O Insurance.

15. ⭐⭐⭐⭐⭐（终极陷阱）

A brokerage:

• maintains E&O Insurance;
• maintains Fidelity Insurance;
• files its Financial Position Report on time;
• knowingly publishes misleading advertisements.

Which statement is MOST accurate?

A. The brokerage complies with Regulation 991 because all insurance requirements are met.

B. Filing the Financial Position Report cures the advertising problem.

C. The brokerage may still face disciplinary action for misconduct.

D. Misleading advertising is permitted if the brokerage has E&O Insurance.

请按下面格式作答：

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

11.
12.
13.
14.
15.

🎯 挑战目标

如果这套你能做到：

• 13–15 分：我认为你的 Regulation 991 已达到正式考试水准。
• 15/15：我们就可以进入 RIB Act + Regulation 991 + By-Law + Code of Conduct 综合模拟考试（30题），那套几乎就是 RIBO Level 1 的最终冲刺难度。

很好，我们来做一套 RIBO Level 1 Commercial Insurance 综合陷阱题（40题）。

范围覆盖：

• Commercial Property
• CGL
• Business Interruption
• Crime
• Boiler & Machinery (Equipment Breakdown)
• Inland Marine / Floater
• Builders Risk
• Bailee
• Professional Liability
• D&O / EPLI
• Cyber
• Environmental Liability
• Umbrella / Excess
• Claims-made
• Coinsurance
• Valuation
• Subrogation
• Commercial Auto（少量）

全部按照 RIBO 真题风格。
不少题都是容易掉坑的。

Part 1（1-10）

1.

A restaurant purchases a Commercial Property policy.

Which property would MOST likely require a separate Floater?

A. Dining tables

B. Kitchen stove

C. Cash register

D. Catering equipment transported to customers

2.

A business carries replacement cost coverage.

After a fire, the insurer discovers the insured never replaced the destroyed building.

The insurer will MOST likely pay:

A. Replacement Cost

B. Actual Cash Value

C. Agreed Value

D. Market Value

很多教材会直接写：

Replacement Cost Policy = Replacement Cost

但是 RIBO 最喜欢考这里的细节。

真正理赔流程通常是：

1. 火灾发生
2. 如果没有重建
3. 保险公司通常先支付 ACV（折旧后价值）
4. 等真正重建完成，再补足 Replacement Cost 差额

所以考试最常见答案是：

B. Actual Cash Value

为什么这题我没有扣你分？

因为不同保单 wording 有些差异：

• 有些保单规定必须 rebuild 才有 RC
• 有些先赔 ACV，再补 RC
• 极少数 wording 可以直接赔 RC

所以如果是真正 RIBO，我会认为 B 是标准答案。

3.

Which loss is MOST likely covered under Equipment Breakdown insurance instead of a Commercial Property policy?

A. Fire

B. Explosion of a steam boiler caused by mechanical failure

C. Windstorm

D. Theft of machinery

4.

Business Interruption insurance is designed to cover:

A. Damage to buildings

B. Lost income following insured property damage

C. Liability lawsuits

D. Employee injuries

5.

A business shuts down because a nearby bridge collapses, preventing customers from reaching the premises.

There is no damage to the insured building.

Under a standard Business Interruption policy:

A. Covered

B. Covered if bridge repairs exceed 30 days

C. Usually not covered

D. Covered only with replacement cost

6.

Which of the following is considered a Crime Insurance exposure?

A. Fire

B. Employee theft

C. Windstorm

D. Flood

7.

A dishonest employee steals $200,000 from the company.

The insurer pays the claim.

What usually happens next?

A. Nothing.

B. The insurer may pursue recovery against the employee.

C. The employee automatically goes to jail.

D. The insured must repay the insurer.

8.

Which statement about Commercial General Liability is TRUE?

A. It covers faulty workmanship itself.

B. It covers bodily injury caused to others.

C. It guarantees product quality.

D. It replaces Workers Compensation.

9.

A contractor installs defective flooring.

Only the flooring itself must be replaced.

Which policy normally responds?

A. CGL

B. Builder’s Risk

C. Usually none

D. Crime

10.

A contractor’s faulty work later causes water damage to the customer’s building.

Which statement is MOST accurate?

A. Damage to the contractor’s own work is covered.

B. Resulting property damage may be covered.

C. Faulty workmanship is always covered.

D. No commercial policy could ever respond.

Part 2（11-20）

11.

Which policy is MOST appropriate for an accountant who gives incorrect tax advice?

A. CGL

B. E&O

C. Crime

D. Builder’s Risk

12.

Directors & Officers insurance mainly protects against:

A. Auto accidents

B. Management decisions leading to lawsuits

C. Employee injuries

D. Fire losses

13.

Employment Practices Liability primarily covers:

A. Employee theft

B. Wrongful dismissal allegations

C. Equipment breakdown

D. Product recall

14.

Cyber Liability insurance is MOST likely to cover:

A. Fire damage

B. Data breach response costs

C. Earthquake

D. Boiler explosion

15.

Environmental Liability insurance primarily covers:

A. Employee injuries

B. Pollution-related claims

C. Theft

D. Windstorm

16.

Umbrella Liability insurance generally:

A. Replaces underlying policies

B. Provides additional liability limits

C. Covers property damage only

D. Covers employee dishonesty

17.

An Excess Liability policy differs from an Umbrella because it:

A. Always covers more perils

B. Normally follows the underlying policy terms

C. Covers crime automatically

D. Covers pollution automatically

18.

Claims-made policies generally require:

A. The claim be reported while the policy is active (or extended reporting applies)

B. The accident occur after policy expiry

C. The insured retire first

D. Annual inspections

19.

An architect is sued three years after completing a project.

Which insurance feature is MOST important?

A. Coinsurance

B. Claims-made reporting requirements

C. Replacement cost

D. Deductible waiver

20.

Which coverage responds if hackers steal customer credit card information?

A. Commercial Property

B. Crime

C. Cyber Liability

D. Builder’s Risk

Part 3（21-30）

21.

Builder’s Risk insurance primarily covers:

A. Completed homes after occupancy

B. Buildings under construction

C. Auto liability

D. Professional negligence

22.

A Bailee is:

A. The owner of goods.

B. A person temporarily responsible for another’s property.

C. A contractor.

D. A shareholder.

23.

Which valuation method accounts for depreciation?

A. Replacement Cost

B. Actual Cash Value

C. Agreed Value

D. Guaranteed Value

24.

Coinsurance encourages insureds to:

A. Purchase liability insurance

B. Insure property close to its required value

C. Avoid deductibles

D. Buy Umbrella insurance

25.

Subrogation allows an insurer to:

A. Cancel any policy.

B. Sue responsible third parties after paying a claim.

C. Increase deductibles.

D. Avoid paying claims.

26.

Which statement regarding Replacement Cost is TRUE?

A. It always pays regardless of rebuilding.

B. Rebuilding conditions often apply.

C. It includes depreciation.

D. It is only available for liability policies.

27.

A customer slips on a wet floor inside a store.

Which policy usually responds?

A. Commercial Property

B. CGL

C. Crime

D. Builder’s Risk

28.

A tenant accidentally causes a fire that damages the landlord’s building.

Which policy usually protects the tenant?

A. CGL

B. Crime

C. Equipment Breakdown

D. Marine Cargo

29.

Products Liability applies when:

A. Employees are injured at work.

B. A sold product causes injury after leaving the manufacturer.

C. Inventory is stolen.

D. Equipment breaks down.

30.

Completed Operations coverage mainly applies:

A. Before work begins

B. While construction is underway

C. After work has been completed

D. During transportation only

Part 4（31-40）

31.

Which policy best covers money stolen during transport to the bank?

A. Inland Marine / Crime

B. Commercial Property only

C. CGL

D. D&O

32.

Product Recall insurance primarily reimburses:

A. Bodily injury awards

B. Costs of recalling defective products

C. Fire damage

D. Employee theft

33.

Impaired Property usually involves:

A. Physical destruction.

B. Property that cannot be used because of the insured’s defective product.

C. Flood damage.

D. Theft.

34.

A business intentionally pollutes a river.

Environmental Liability insurance will MOST likely:

A. Fully cover the loss.

B. Never investigate.

C. Potentially deny coverage because intentional acts are generally excluded.

D. Automatically pay government fines.

35.

Which policy would MOST likely insure fine artwork displayed in an office?

A. Fine Arts Floater

B. CGL

C. EPLI

D. Boiler

36.

Which statement about CGL exclusions is TRUE?

A. Every business loss is covered.

B. Faulty workmanship itself is generally excluded.

C. Employee dishonesty is covered.

D. Pollution is always covered.

37.

An insured deliberately sets fire to their own warehouse.

Which principle applies?

A. Replacement Cost

B. Fortuity

C. Intentional acts are not insurable.

D. Coinsurance

38.

Which insurance is MOST appropriate for a trucking company transporting customers’ goods?

A. Accounts Receivable

B. Cargo Floater

C. EPLI

D. D&O

39.

Which policy is MOST concerned with protecting shareholders against management mistakes?

A. CGL

B. D&O

C. Crime

D. Builder’s Risk

40.

Which commercial policy is MOST likely written on a Claims-made basis?

A. Commercial Property

B. Commercial Auto

C. E&O Professional Liability

D. Builder’s Risk

📋 请直接回复答案即可，例如：

1D
2B
3B
4B
5C
……
40C

我会像真正的 RIBO 考官 一样，不仅告诉你对错，还会分析每一道题为什么容易掉进陷阱，并总结你最薄弱的商业保险知识点。

Crime Insurance（犯罪保险） 是 Commercial Insurance 中一个非常重要的险种，也是 RIBO Commercial Insurance 高频考点。

它与 CGL、E&O、D&O、EPLI 经常放在一起考，所以一定要会区分。

什么是 Crime Insurance？

Crime Insurance 保障的是：

公司因犯罪行为（Crime）造成的金钱、证券或财产损失。

最常见的是：

员工偷公司钱。

所以可以简单记：

Crime Insurance = Dishonesty（不诚实行为）

Crime Insurance 保什么？

最常见保障包括：

1. Employee Dishonesty（员工盗窃）⭐⭐⭐⭐⭐

RIBO 最爱考。

例如：

会计偷偷把公司钱转到自己的账户。

几年下来：

偷了 $300,000。

👉 Crime Insurance 可赔。

2. Theft of Money（现金盗窃）

例如：

晚上有人闯进办公室。

保险柜里的现金被偷。

👉 可赔。

3. Robbery（抢劫）

例如：

送现金去银行途中。

被持枪抢劫。

👉 可赔。

4. Burglary（入室盗窃）

例如：

晚上有人撬开门。

偷走现金。

👉 可赔。

5. Forgery（伪造）

例如：

员工：

伪造老板签名。

开支票。

骗走公司资金。

👉 可赔。

6. Computer Fraud（电脑诈骗）

现代 Crime Policy 常见。

例如：

黑客：

假冒供应商。

骗公司汇款。

符合保单条件时，可能获得保障（具体取决于保单措辞）。

7. Funds Transfer Fraud（资金转账诈骗）

例如：

骗子：

发 Email：

“请把钱汇到新的银行账户。”

员工照做。

钱被骗走。

部分 Crime 保单提供此保障，但不同保单差异较大。

Crime Insurance 不赔什么？

通常不赔：

❌ 正常经营亏损

例如：

生意不好。

❌ 市场投资亏损

股票跌了。

❌ 火灾

属于 Property Insurance。

❌ 顾客滑倒

属于 CGL。

❌ 专业建议错误

属于 E&O。

❌ Wrongful Dismissal

属于 EPLI。

Crime vs Fidelity Bond

很多教材会一起讲。

其实：

以前：

Employee Dishonesty

叫：

Fidelity Bond

现在：

通常都放进：

Crime Insurance

RIBO 常认为：

Employee Dishonesty 是 Crime Insurance 的一项保障。

Crime vs CGL

Crime vs E&O

Crime vs D&O

Crime vs Property Insurance

很多学生会混。

例如：

有人放火烧仓库。

👉 Property Insurance

有人偷仓库现金。

👉 Crime Insurance

RIBO 高频例题

例题 1

An employee secretly transfers company funds into her own bank account.

Which policy responds?

A. CGL

B. Property

C. Crime

D. E&O

✅ 答案：C

员工盗窃。

例题 2

A broker forgets to add Flood Coverage.

Which policy?

A. Crime

B. E&O

C. D&O

D. Property

✅ 答案：B

专业错误。

例题 3

A customer slips on ice outside a store.

Which policy?

A. Crime

B. EPLI

C. CGL

D. D&O

✅ 答案：C

公众责任。

例题 4（陷阱题）

The company loses $2 million because it made a poor investment.

Which policy responds?

A. Crime

B. Property

C. D&O

D. None of the above

✅ 答案：D

原因：

投资亏损不是犯罪，也不是 Property 损失；仅仅因为投资失败，D&O 也不会赔偿公司的投资损失。

五大 Liability / Crime 险种速记

RIBO 考试终极口诀（建议背下来）

看到题目，先问自己：

• 有人受伤？ → CGL
• 专业建议出错？ → E&O
• 董事决策被告？ → D&O
• 员工告公司？ → EPLI
• 有人偷钱、伪造、诈骗？ → Crime Insurance

一句话总结

Crime Insurance 保的不是“犯罪的人”，而是“公司因犯罪行为遭受的财务损失”。

这是 Commercial Insurance 中最容易与其他责任险混淆的险种之一，也是 RIBO 考试非常喜欢考的比较题。

这种赔偿保险公司赔了，是不是要找 犯罪员工 追回损失？

是的，通常会，而且这是保险公司的正常做法。

这涉及保险里的一个重要概念：

Subrogation（代位求偿权）

也就是：

保险公司赔了以后，可以取得被保险人的权利，向真正造成损失的人追偿。

举个例子

假设：

公司会计 Alice 偷了公司 $500,000。

公司买了 Crime Insurance。

保险公司调查后确认属于承保范围。

于是：

保险公司赔给公司 $500,000（扣除免赔额等，如适用）。

接下来：

保险公司就可能起诉 Alice，要求她偿还这 $500,000。

如果追回了：

例如追回了 $300,000。

这笔钱通常归保险公司（因为保险公司已经赔给公司了）。

为什么要这样？

否则会出现不公平的情况。

如果：

• 公司拿到了保险赔偿；
• 犯罪员工也不用还钱；

那真正犯错的人反而不用承担责任。

保险制度的原则是：

保险是恢复损失（Indemnity），不是让犯罪者受益。

如果员工没钱怎么办？

现实中，这种情况很常见。

例如：

员工已经：

• 把钱挥霍了；
• 破产了；
• 或者坐牢了。

保险公司可能：

• 起诉；
• 申请法院判决；
• 尝试查封资产；

但最终：

追回多少钱是不确定的。

因此，保险公司在承保 Crime Insurance 时，会非常关注：

• 公司有没有内部控制（Internal Controls）
• 有没有职责分离（Segregation of Duties）
• 有没有定期审计（Regular Audits）
• 谁有权限签支票
• 谁可以转账

因为这些都会影响员工盗窃发生的概率。

如果员工把钱还回来了呢？

例如：

员工偷了 $100,000。

后来：

警察追回了全部现金。

保险公司还没赔。

那么：

保险公司通常就不用赔了（因为公司已经没有实际损失）。

如果：

保险公司已经赔了，

后来警方追回了钱，

一般来说，追回的金额会按照保单和法律原则处理，通常用于偿还保险公司已支付的赔款，避免被保险人获得双重赔偿。

RIBO 考试会怎么考？

例如：

An employee steals company funds. The insurer pays the claim under a Crime policy. The insurer then seeks recovery from the employee.

This is an example of:

A. Contribution

B. Indemnity

C. Subrogation

D. Co-insurance

✅ 答案：C（Subrogation）

因为：

保险公司赔偿后，依法向真正的责任人追偿。

一个例外：员工是老板怎么办？

这里有一个容易混淆的点。

如果偷钱的人其实是：

• 公司老板本人；
• 唯一股东（Sole Shareholder）；
• 控制公司的实际控制人；

很多 Crime Insurance 保单不会把这种行为当作可赔的员工盗窃，因为这涉及道德风险（Moral Hazard）和保单定义。具体是否保障，要看保单对 Employee、Insured 以及相关除外责任的定义。

RIBO 一句话记忆

Crime Insurance 先赔公司，再由保险公司依据代位求偿权（Subrogation）向真正的犯罪者追偿（如果法律和实际情况允许）。

这也是为什么保险公司在 Crime Insurance 理赔后，通常会积极配合警方调查并保留追偿权。