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2022
CRIME REFERENCE GUIDE FOR AGENTS COVERAGES AVAILABLE Employee Theft Forgery or Alteration Inside the Premises – Theft of Money and Securities Inside the premises - Robbery of a Custodian or Safe Burglary of Money and Securities Inside the Premises – Robbery or Safe Burglary of Other Property Outside The Premises Money Orders and Counterfeit Money Employee Theft – Name or Position Schedule
AUTHORITY Applicable to privately held commercial companies with a limit of $150,000 or less and a maximum employee count of 10. Governmental entities, non-profits, and financial institutions are not eligible Crime is not offered if applicant is eligible for a financial institution bond Three Year Loss Ratio must be equal to or less than 45% (3 years of loss history is required) Applicant has proved ability to successfully manage all finances No indictment or conviction of crime including fraud, bribery and/or arson Operations have not been sold, acquired, or discontinued within last 3 years Prospect does not operate under a different name No 24-hour operations Prefer a minimum of 3 years in business – anything less requires Underwriting approval All submissions are subject to Underwriter Review
GENERAL RULES
Loss Sustained Coverage Option only = Loss incurred during the policy period Must be written with both General Liability and Property. We will not write monoline Crime We are not a market for risks that utilize watchmen, armored vehicles and/or guards
2|Page Mid-term endorsements are discouraged Where applicable, CR 35 10 Forcible Entry into Premises is required CR 35 22 Require Record of Checks requirement is mandatory CR 20 28 Add Protective Devices or Services is mandatory
AVAILABLE COVERAGES
CR 25 01 Exclude designated persons or classes of persons as employees CR 25 02 Include designated agents as employees CR 25 03 Include Partners as Employees CR 25 04 Include Members of a Limited Liability Company as Employees CR 25 20 Add Credit, Debit or Charge Card Forgery (no referral necessary) CR 35 01 Exclude Specified property CR 35 13 Exclude Designated Premises CR 35 25 Include Selling Price or Processing Charge CR 35 31 Provide Sublimits for Money, Securities or Checks CR 20 18 Include Joint venture or partnership as insured(s) CR 20 31 Include as joint insureds
COVERAGE OPTIONS For Coverage details, please reference the ISO Crime forms policy language
EMPLOYEE THEFT The insuring agreement provides coverage for loss of or damage to money, securities and other property resulting directly from theft committed by an employee, whether identified or not, acting alone or in collusion with other persons. FORGERY OR ALTERATION This insuring agreement provides coverage for loss resulting directly from forgery or alteration of checks, drafts, promissory notes or similar written promises, orders, or directions to pay a sum certain made or drawn by the insured or its agent. Substitute checks as defined in the Check Clearing for the 21st Century Act (Check 21) are treated the same as the original it replaced. If the insured is sued for refusing to pay any instrument covered under this insuring agreement, reasonable legal expenses incurred by the insured with the consent of the insurer are also covered and is in addition to the limit of insurance.
INSIDE THE PREMISES – THEFT OF MONEY AND SECURITIES This insuring agreement provides coverage for loss of money and securities inside the insured's premises or a financial institution premises: Resulting directly from theft committed by a person present inside such premises or financial institution premises; or Resulting directly from disappearance or destruction.
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Also covered is damage to the premises or its exterior resulting directly from actual or attempted theft; and damage to locked containers inside the premises such as safes, vaults, and cash registers from actual or attempted theft of, or unlawful entry into, those containers.
CR 04 07 INSIDE THE PREMISES - ROBBERY OF A CUSTODIAN OR SAFE BURGLARY OF MONEY AND SECURITIES Endorsement to Base Form: CR 00 23 This insuring agreement provides coverage for 1. loss or damage to a) money and securities inside the premises resulting directly from an actual or attempted robbery of a custodian or b) inside the premises or financial institution premises in a safe or vault resulting directly from an actual or attempted safe burglary. 2. Loss from damage to the premises or its exterior resulting directly from an actual or attempted robbery or safe burglar6y of money and securities if you are the owner of the premises or are liable for damage to it. 3. Loss from damage to a locked safe or vault located inside the premises resulting directly from an actual or attempted robbery or safe burglary. INSIDE THE PREMISES – ROBBERY OR SAFE BURGLARY OF OTHER PROPERTY This insuring agreement provides coverage for loss of or damage to property other than money and securities inside the insured's premises resulting from directly from an actual or attempted robbery of a custodian or safe burglary. Also covered is damage to the premises or its exterior resulting directly from actual or attempted robbery or safe burglary; and damage to locked containers inside the premises such as safes, vaults, and cash registers from actual or attempted robbery or safe burglary of other property.
OUTSIDE THE PREMISES This insuring agreement provides coverage for loss of money and securities in the care and custody of a messenger or armored motor vehicle company resulting directly from theft, disappearance, or destruction. Also covered is loss or damage to other property in the care and custody of a messenger or an armored vehicle company resulting directly from an actual or attempted robbery. MONEY ORDERS AND COUNTERFEIT MONEY This insuring agreement provides coverage for loss resulting directly from the insured having accepted in good faith, in exchange for merchandise, money or services: money orders that are not paid upon presentation; and counterfeit money acquired during the regular course of business.