Arson is of two types. It may be willful conduct of the insured itself or the malicious conduct of some other person. The Standard Fire and Special Perils Policy generally covers the latter. However, the willful act of the insured to burn his own property is not covered.
My question is that "willful act of the insured" is generally stated in the exclusions of a Standard Fire and Special Perils Policy. Suppose the insured is a company. Whether the willful act of the insured would include the company as whole, example its directors, employees,etc?
Example: I am a company insured under the Standard Fire and Special Perils Policy. Then which act would constitute as a willful act of the insured. Suppose an employee of my company causes fire to the company, would that be termed as a willful act of the insured and not covered under the Policy or are there any exceptions to the applicability of the same. Policy wordings of Insurance Companies would be highly appreciated.
