Waiver of inventory

{
  "id": "MLC-T-INS-003503",
  "term": "Waiver of inventory",
  "field": "Insurance and risk management",
  "definition": "A provision in a fidelity bond or crime insurance policy that modifies the insured's obligation to provide a detailed inventory to prove the amount of a loss. When a loss is discovered, the insured must still prove its existence, but this waiver removes the requirement for a line-by-line itemization of stolen goods to establish the loss amount. It is particularly relevant for retailers who cannot determine exactly which items were stolen in a theft event.",
  "url": "https://mlchart.com/terminology/insurance/waiver-of-inventory/"
}