Exclude Designated Persons or Classes of Persons as Employees, CR 25 01 08 07

This endorsement provides a schedule to list any person or class as excluded from the definition of employee.

 Include Designated Agents as Employees, CR 25 02 05 06

 This endorsement adds designated agents of the insured as employees. It also allows the insured to choose a limit of insurance that applies to each agent. This limit of insurance is included within the limit shown on the declarations page. These agents are covered only for theft and not for faithful performance of their duties—even if the policy contains an endorsement providing "faithful performance" coverage for other employees.

 Include Partners as Employees, CR 25 03 08 07

 CR 25 03 provides a schedule to add, as employees, designated persons who are partners in an insured partnership. The basic crime policy excludes theft by any of the insured's partners. This endorsement adds theft coverage for designated partners. When calculating the amount of loss payable under this endorsement, the insurer deducts the following from the total reported loss:

 1. Amounts the named insured owes to the partner.

 2. The value of the partner's interest in the partnership.

 3. The deductible.

 Include Members of a Limited Liability Company as Employees, CR 25 04 08 07

 In this endorsement a schedule to add, as employees, designated persons who are members of an insured limited liability company (LLC) is provided. As with partners, the acts of members are also not covered by the basic crime policy. Like the CR 25 03, this endorsement subtracts the same three items from the reported loss. However, this endorsement uses the value of the member's membership interest in the LLC, rather than a partner's interest in the partnership.

 Include Leased Workers as Employees, CR 25 05 03 00

 Leased workers are added as employees in CR 25 05. It provides a schedule to list the various leasing firms used by the insured. Then, any employee leased from that firm is an insured. However, it exempts leased employees substituting for a permanent employee on leave or leased employees hired to meet "seasonal or short-term workload conditions."

      Include Chairperson and Members of Specified Committees as Employees, CR 25 06 08 07

 Similar to the prior endorsement, CR 25 06 allows the chairperson and other members of designated committees to be added to the policy as employees. Many businesses have committees that are chaired by non-employees, or that have non-employees as members. This endorsement extends coverage to these individuals when acting in their capacity as either a committee chairperson or member.

 Include Specified Directors or Trustees on Committees as Employees, CR 25 07 03 00

 CR 25 07 extends coverage to directors or trustees on certain committees. It has a schedule to name the covered person or persons. For the coverage to apply, the director or trustee must perform "specific directorial acts" as opposed to "general directorial acts."

 Include Specified Non-Compensated Offices as Employees, CR 25 08 08 07

 A schedule to list non-compensated officers and include them as employees is provided.

 Include Volunteer Workers as Employees, CR 25 09 08 07

 Volunteer workers can be added as employees using this endorsement. However, it excludes "fund solicitors" while they are performing duties usual to an employee.

 Include Volunteer Workers Other than Fund Solicitors as EmployeesCR 25 10 08 07

 This endorsement provides coverage that 25 09 does not: "fund solicitors" are added as employees.

 Include the Spouse and Children of Building Manager, Superintendent or Janitor as Employees, CR 25 11 05 06

 CR 25 11 adds the spouse and family members of certain employees as employees. Sometimes a building manager, superintendent, or janitor will live in the building where they work. They are already covered as employees of the named insured. This endorsement adds their spouse and children to the definition of employee. Each family is then one insured.

 Include Treasurers or Tax Collectors as Employees, CR 25 12 08 07

 Under the government crime form, designated treasurers or tax collectors are added as employees. The exclusion for treasurers and tax collectors is deleted.

 Include Students as Employees, CR 25 13 08 07

 This endorsement adds students as employees under the government crime form. The student must be enrolled in a school under the jurisdiction of the named insured. It covers the student while he or she is handling money or property in connection with "sanctioned" student activities.

 Include Officers and Employees of Federal Reserve Bank Acting as EFTS Agent as Employees, CR 25 14 08 07

 CR 25 14 adds certain officers and employees of a Federal Reserve Bank as employees under the commercial crime form. A business may operate an electronic fund transfer system. With such an operation an employee or officer of a Federal Reserve Bank might have custody of the insured's covered property. This endorsement adds these Federal Reserve employees as insureds in that case.

 Amend Definition of Employee to Comply With Labor-Management Reporting and Disclosure Act of 1959, CR 25 15 08 07

 The definition of employee is amended to comply with the Labor – Management Reporting and Disclosure Act of 1959. The 2007 form added director or trustee while performing certain specific duties to the definition of employee.

 Add Trading Coverage, CR 25 16 08 07

 Coverage for trading with a specific limit of liability is provided in this endorsement. For example: a business might have its treasurer or controllers invest any excess funds. The commercial crime policy excludes any losses caused by employee theft in connection with such trading activities.

 When this endorsement is added, it amends that exclusion so that trading is covered up to the limit of liability on the endorsement. That limit is included in the overall limit shown on the declarations.

 Add Warehouse Receipts Coverage, CR 25 17 08 07

 Coverage for warehouse receipts that are excluded by the commercial crime policy is added. The endorsement provides a place for a limit of liability for this coverage. When used, this endorsement provides coverage for loss that results from "fraudulent or dishonest signing, issuing, canceling or failing to cancel, a warehouse receipt or any papers connected with it."

 Add Faithful Performance of Duty Coverage, CR 25 18 08 07

  Coverage for faithful performance by an employee of her duties is provided. The endorsement adds to the employee theft insuring agreement that the policy will pay for loss of covered property that occurs because of an employee's failure to perform her duties. This endorsement is used to modify the commercial crime policy and the employee theft policy.

 Add Faithful Performance of Duty Coverage for Government Employees, CR 25 19 05 06

 This endorsement works the same as CR 25 18, except it applies to government entities.

 Add Credit, Debit or Charge Card Forgery, CR 25 20 08 07

 Coverage for credit/debit card forgery is added in this endorsement. It allows the insured to add or include such cards in the coverage or to limit the coverage to such cards. It also provides for a sub-limit for such forgery. It also adds an exclusion applicable to this coverage: the policy does not apply if the insured does not comply with the provisions and terms of the card. Under the covered instruments section of the schedule, the endorsement now specifies that covered instruments either include written instruments required in conjunction with credit, debit or charge cards issued to you an employee, or is limited to the same charge cards. The earlier endorsement did not make this specification.

 Add Warehouse Receipts Forgery, CR 25 21 08 07

 CR 25 21 adds coverage for warehouse receipts and withdrawal orders. As with the CR 25 20, the insured may include these items in the coverage or limit the coverage to them, and a sub-limit of coverage is provided. Although the crime policy excludes warehouse receipts, the term is not defined in the policy. This endorsement says that a "warehouse receipt" shows that the insured received certain goods or merchandise. A "withdrawal order" is sent to the insured by the owner of a warehouse receipt that requests withdrawal of the owner's goods. Similar to CR 25 20, the revised 25 21 endorsement specifies that covered instruments either include warehouse receipts and withdrawal orders or are limited to warehouse receipts and withdrawal orders.

 Include Personal Accounts of Specified Persons, CR 25 22 08 07

 This endorsement allows the insured to include the "personal accounts" of named individuals. It has a schedule for the names and the amount of insurance to apply to each person's accounts. The revision to this endorsement removes this endorsement from the Government Crime Coverage Form and the Government Crime Policy. Therefore, individual persons cannot be scheduled to have their personal accounts protected from forgery or alteration under the government policies.

 Exclude Certain Risks Inherent in Insurance Operations, CR 25 23 08 07

 CR 25 23 excludes losses that result from insurance operations. There is no coverage for liability arising out of the insured's issuance of insurance, indemnity, or surety contracts.

 Exclude High-Grading Loss, CR 25 24 08 07

 CR 25 24 excludes "high-grading loss." It eliminates from covered property precious metals and stones that were not received by an authorized employee and placed in a safe.

 Exclude Unauthorized Advances, Require Annual Audit, CR 25 25 08 07

 In this endorsement, an exclusion is added for coverage for "unauthorized advances" made by an insured's employee for "delinquent dues or assessments." It also requires the insured to consent to an audit of his or her books at least once a year.

 Rural Utilities Service Borrowing Corporations – Limit Amount of Insurance on Collection Agents, CR 25 26 08 07

 The amount covered when loss is caused by any collection agent who is included as an employee is limited under this endorsement. The endorsement applies to the employee theft insuring agreement. So a theft committed by a collection agent must fit the parameters of the employee theft agreement in order for there to be coverage.

 Rural Utilities Service Joint Insured, CR 25 27 05 06

 The conditions for joint insureds are modified so that payment will be made to the first named insured for the insured sustaining the loss. If a named insured has a loss, the payment will be made to the first named insured; it is up to the first named insured to provide the funds to the named insured who sustained the loss. Knowledge of any insured partner is considered knowledge of every insured. This endorsement provides an exception to that clause for a borrowing company from the Rural Utilities Services. In such a situation, knowledge of information relevant to this insurance is considered knowledge by the insured sustaining the loss. Knowledge of the rest of the insureds is not a concern.

 The termination as to any employee condition is modified as well. The policy is considered terminated as soon as the Rural Utilities Service, borrowing corporation employing such employee, or partners, officers or directors learn of theft or dishonest acts by an employee. The acts can be before or after the individual became an employee of the borrowing corporation.

 Rural Utilities Service Regulations, CR 25 28 05 06

 This endorsement modifies the following sections of the policy: cancellation conditions, duties in event of a loss, legal action against us, section E conditions, and termination as to any employee condition. The changes in these areas modify the policy to apply the same conditions to Rural Utilities Service that apply to the insured.

 Insured at Military Center, CR 25 29 08 07

 This endorsement amends the definition of employee to include personnel of the military when they are performing duties of the insured. The endorsement reserves the right of the carrier to make its own claim investigation except to matters of national security. When a proof of loss is submitted, any information involving national security is not required.

 Banks for Cooperatives and Federal Intermediate Credit Banks, CR 25 30 08 07

 CR 25 30 modifies the employee theft insuring agreement to make payment for loss to banks listed on the schedule, and that such payment will be payment to the insured. If through neglect or an act of the insured the employee theft agreement becomes invalid, the insurer is not prohibited from paying an otherwise valid claim. However the bank must discover the invalidation of the agreement within two years or the carrier has no obligation to make any payment. Upon cancellation of the employee theft agreement by the carrier, notice will be given in writing to the banks listed on the schedule.

 Add Blanket Excess Limit of Insurance for Specified Joint Insured, CR 25 31 08 07

 The insured is allowed to add blanket excess coverage for specified "joint insureds" by using this endorsement. The policy says, under the "joint insured" condition, that an employee of any insured is an employee of every insured.

 Provide Employee Theft Coverage Excess Over a Statutory Bond Requirement, CR 25 32 08 07

 Excess coverage over a statutory bond for employees or treasurers/tax collectors is provided in this endorsement. It removes the exclusions in the crime policies that apply to these employees.

 Employee Theft – Per Loss Excess Over Employee Theft – Per Employee, CR 25 33 08 07

 Excess "per loss" insurance under the governmental crime form is provided in this endorsement.

    Add Schedule Excess Limit of Insurance for Specified Employees or Positions, CR 25 34 08 07

 CR 25 34 allows an insured to add excess limits of insurance for scheduled employees or positions.

 Add Schedule Excess Limit of Insurance for Specified Employees or Positions for Employee Theft Only, CR 25 35 08 07

 This endorsement allows an insured to add excess limits of insurance for scheduled employees or positions for the peril of employee theft only.

 Change Schedule (Discovery Form), CR 25 36 08 07

 This endorsement amends schedules of specifically identified employees as they appear in the schedule of the employee theft name or position schedule or a prior version of this endorsement. The change in listed employees applies to damages that result from an "occurrence" which is "discovered" by the insured on or after the effective date of the change. Any changes made by a retroactive date endorsement supersede this endorsement.

 The deletion of a name or title clause has removed the statement that no limit of insurance will be cumulative with any other applicable amount to the same coverage. Therefore, limits that apply to the same coverage may be stacked. The 2007 version of the form has added the government crime coverage form and the government crime policy as policies that this endorsement can apply to. This endorsement applies to discovery forms only.

 Change Schedule (Loss Sustained Form), CR 25 37 08 07

 This endorsement is the same as the 25 36 endorsement except that it applies to loss sustained forms and not discovery forms.

 Change Schedule Excess Limit of Insurance for Specified Employees or Positions (Discovery Form,) CR 25 38 08 07

 CR 25 38 allows for additions or deletions to be made to prior schedules that exist under endorsement 25 34, 25 35, or earlier versions of 25 38. The changes are the same as what we have discussed in endorsements 25 26 and 25 27. This is a discovery form.

 Change Schedule Excess Limit of Insurance for Specified Employees or Positions (Loss Sustained Form), CR 25 39 08 07

 This endorsement is the same as 25 38 except that it applies to loss sustained forms and not discovery forms.

 Include Expenses Incurred to Establish Amount of Covered Loss, CR 25 40 08 07

 CR 25 40 allows an insured to include incurred expenses to establish the amount of a covered loss under the employee theft insuring agreement or the computer fraud insuring agreement. Costs that are paid to an independent accounting, auditing or other service in order to determine the amount of the loss are covered.

 Include Designated Persons or Classes of Persons as Employees, CR 25 41 08 07

 CR 25 41 allows an insured to add a person or group of persons to the policy as an employee by listing them on the schedule.

 Include Computer Software Contractors as Employees, CR 25 42 05 06

 This endorsement allows an insured to add a computer software contractor to the policy as an employee by listing him in the schedule. Coverage is not provided for faithful performance of duty, only for theft as provided under the employee theft agreement.

 Add Faithful Performance of Duty Covered for Specified Government Employees or Positions, CR 25 43 05 06

 This endorsement allows the insured to add faithful duty of job performance as a covered loss under the employee theft-name or position schedule insuring agreement. An exclusion of loss from the failure of an entity acting as a depository for the insured's property, or property the insured is responsible for, has been added. Also excluded are damages the insured is legally liable for that result in the deprivation/violation of someone's civil rights by an employee, or the tortious conduct of an employee. The conversion of property of other parties held by the insured is an exception to this exclusion. Insureds required to provide bonds for their employees are indemnified, and the standard termination of coverage as to any employee is added.

Original May 2008