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Crime (Fidelity) Insurance Summary

A summary of crime insurance coverage, exclusions, and policy information is provided below. Coverage may vary by location or agency. This summary does not alter or amend coverage provided in statute or under the state property/casualty insurance program. Specific exclusions, limitations, or conditions may apply. For a comprehensive review of coverage and program requirements, please click here for PDF (33kb) or here for Word (64kb).  For additional information, please contact the Risk Management & Tort Defense Division at (406)444-2421.

Summary

1. Insurer: Great American Insurance Company.
    
2. Broker: Willis of Seattle.
    
3. Term: 7/1 to 6/30 each fiscal year.
    
4. Coverage Territory: This policy applies to insured property within the United States of America, U.S. Virgin Islands, Puerto Rico, Canal Zone, and Canada. For coverage outside these territories please contact the Risk Management and Tort Defense Division.
    
5. Cause of Loss:
    
   1. Employee dishonesty (for money, securities, and other than money and securities), including faithful performance of duty.
   2. Forgery or alteration of checks, drafts promissory notes, or similar written promises.
   3. Computer fraud for fraudulent transfer of money and securities and other than money and securities.
   4. Theft, Disappearance, and Destruction of money and securities
       
6. Property Covered: Money and securities and other convertible instruments and/or property other than money and securities. 
    
7. Coverage Exclusions:
   
   
   1. Concealment, misrepresentation, or fraud.
   2. Employees cancelled under prior insurance.
   3. Inventory shortages or losses.
   4. Accounting errors or discrepancies.
   5. Governmental action, loss from seizure or destruction of property by order of the government.
   6. Expenses related to legal action.
   7. Indirect loss.
   8. Nuclear and radioactive contamination.
   9. War and war like action.
   10. Employee cancelled under prior insurance, not covered under existing policy.
   11. Inventory shortage that is dependent on computation of profit or loss.
   12. Loss caused by an employee required by law to be individually bonded.
   13. Loss caused by treasurer or tax collector.
   14. Damages for which the state is legally liable as a result of (1) deprivation or violation of civil rights of any person or (2) tortuous conduct of any employee, except conversion of property of other parties.
   15. Acts of employees from leased labor firms.
        
8. Valuation of Property: Face value of money, securities or other property lost in U. S. currency at the rate of exchange on the day the loss was discovered. Replacement in kind of bonds and securities within certain limitations. Other property at replacement value.
    
9. Limits of Liability:

   $5,000,000 Public Employee Dishonesty and Faithful Performance.
   $5,000,000 Forgery or Alteration.
   $5,000,000 Theft and Destruction.
   $5,000,000 Computer Fraud.
   $2,000,000 Faithful Performance.

10. Deductibles: $500,000 per incident.