What is required for coverage under the Discovery Form of the Commercial Crime Coverage?

The requirement for coverage under the Discovery Form of the Commercial Crime Coverage is that the loss must be discovered within the extended discovery period. This is an essential element because the Discovery Form is designed to provide coverage for losses that occur before the policy period but are discovered after the policy starts. The extended discovery period allows for a window of time post-policy expiration during which a loss can still be eligible for coverage if it was discovered. This ensures that policyholders are adequately protected even if the loss was not known at the time the incident occurred.

The other options do not align with the requirements of the Discovery Form. Coverage is not contingent upon the loss occurring prior to the policy start date; rather, it focuses on the discovery of the loss. Additionally, while losses must generally be discovered during the coverage period, the specific inclusion of an extended discovery period is critical for ensuring ongoing protection. Reporting of a loss within 30 days is not a stipulation of the Discovery Form but rather a separate requirement that may apply under different circumstances or forms, emphasizing the importance of discovery timing rather than occurrence or reporting deadlines alone.