This type of insurance covers loss sustained through forgery or alteration of outgoing negotiable instruments made or drawn by the insured drawn on the insured’s account(s), or made or drawn by someone acting as the insured’s agent. This includes loss caused by any of the following checks or drafts made or drawn in the insured’s name, payable to a fictitious entity checks or drafts, including payroll checks, executed through forged endorsements and alteration of the amount of a check or draft.