Asst.lect:Hamid Jassim Alwan Concept of Theft from a Legal Perspective • Legal Definition: Theft is a criminal act involving the deliberate misappropriation of movable property owned by someone else. • Movable Property: Any property that can be moved from its original location to another place. • Evolution of the Crime: Theft has evolved with economic and civilizational developments. Thieves have become more sophisticated in using various methods and targeting valuable goods. • Role of Insurance Companies: To mitigate these losses, insurance companies provide adequate coverage through a “Theft Insurance Policy.” Concept of Theft under an Insurance Policy Refers to any act committed by a person (day or night) involving: • Breaking and Entering: Entering a residence or any associated building with the intent to commit a crime. • Breaking and Exiting: Leaving the premises after entering with the intent to steal or actually committing the theft. Concept of “Breaking” in Insurance: • Includes using force, violence, or strength, such as climbing, scaling walls, or drilling. • Includes the use of counterfeit keys, breaking interior doors, or turning window handles. • Clever Breaking: Such as impersonating an official or colluding with servants or other individuals. Types of Theft Insurance Policies There are two main types: • Theft insurance policy for commercial shops. • Theft insurance policy for residential houses. Exclusions in Residential Theft Insurance Policies The policy does not cover the following cases: • Money insured separately (e.g., cars insured under a supplementary policy). • Financial instruments, money orders, checks, stamps, coins, and medals. • Loss or damage resulting from wars, military operations, rebellion, or strikes. • Damages already covered under a fire insurance policy. • Damages caused by nuclear radiation or fuel. How Compensation Works in a Theft Insurance Policy To obtain compensation, the following conditions must be met: • Ensure that the stolen property is insured and that the policyholder has paid the premium. • The policy must be valid at the time of the incident. • Clear signs of breaking must exist, and the incident must be reported to the competent police station, which will document the case. • The residence must be occupied by the policyholder’s family. • The policyholder must have taken all necessary precautions (locking doors, windows, and sealing openings).