Summary: The new crime program from Insurance Services Office (ISO) allows for crime to be written on a separate policy or as part of a package. It also now has two different policies—one for commercial entities and one for government entities. This treatment examines the form used for a separate policy for commercial entities.

While the previous crime program referred to this form as “employee dishonesty,” the current program incorporates “employee theft” and six other insuring agreements into one form, the “Commercial Crime Policy.” This form has two versions: CR 00 22 03 00 covers claims on a “discovery” basis and CR 00 23 03 00 provides coverage on a “loss sustained” basis. This treatment will note where the two forms differ.

The other insuring agreements are: forgery or alteration; theft of money and securities, inside the premises; robbery or safe burglary, inside the premises; outside the premises; computer fraud; and money orders and counterfeit paper currency. The insured chooses which of the agreements he or she needs and the declarations page is marked accordingly. The policy provides coverage where a limit is shown on the declarations.