Principles of Risk Management and Insurance, 13th Edition

The Iso Commercial Crime Insurance Program

There are seven basic crime coverage forms and ­policies in the ISO commercial crime insurance program:¹ (1) commercial crime coverage form, (2) commercial crime policy, (3) government crime coverage form, (4) government crime policy, (5) employee theft and forgery policy, (6) government employee theft and forgery policy, and (7) kidnap/ransom and extortion coverage.² The first six forms listed can be written in two versions—a discovery version and a loss-sustained version. The discovery version covers a loss that is discovered during the policy period or within 60 days after the policy expires even though the loss may have occurred before the policy’s inception date. The loss-sustained version covers ...