Risk Management & Tort Defense

Protecting Montana's Vital Assets & Resources

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 (225kb) or here for Word (41kb). For additional information, please contact the Risk Management & Tort Defense Division at (406)444-2421.


  1. Insurer: National Union Fire Insurance Company of Pittsburgh, Pennsylvania and Zurich American Insurance Company.
  2. Broker: Alliant Insurance Services
  3. Term: 7/1 to 6/30 each fiscal year
  4. Coverage Territory: This policy applies to insured property and insured losses anywhere in the world.
  5. Cause of Loss Covered:
    1. Losses caused by state employees, university employees, or employees of other organizations who are temporarily furnished to the state or university system.
    2. Employee dishonesty for loss or damage to money, securities, and other property.
    3. Losses arising from faithful performance of duty.
    4. Forgery or alteration of checks, drafts, promissory notes, or similar written promises.
    5. Theft, disappearance, damage, and destruction of money, securities, and other property on state or university premises.
    6. Theft, disappearance, damage, and destruction of money and securities outside of state or university premises in the care/custody of a messenger services, or in the care/custody of an armored motor vehicle company.
    7. Direct loss or damage to money, securities, and other property caused by computer fraud. Reasonable expenses to restore or replace computer programs and/or electronic data.
    8. Direct loss of money and/or securities caused by fund transfer fraud.
    9. Identity theft reimbursement associated with fraudulent activity on personal accounts.
    10. Expenses associated with preparing a claim.
  6. Property Covered: Money, securities/other convertible instruments, and other property as defined in the state’s policy. 
  7. Major Coverage Exclusions:
    1. War, insurrection, rebellion, or revolution.
    2. Seizure or destruction of property by a government authority.
    3. Loss of income.
    4. Indirect or consequential loss including fines, penalties, multiples, or punitive damages.
    5. Loss or damage to microfilms, tapes, manuscripts, records, accounts, or other records whether written or electronic.
    6. Loss of inventory or loss of profit.
    7. Losses arising from fire, except damage to money, securities, and money vaults.
    8. Nuclear risks, radioactive contamination, or biological or chemical contamination.
    9. Kidnap, extortion, or ransom payments.
    10. Accounting or mathematical errors.
    11. Loss or damage from money operated devices.
    12. Damage to property arising from vandalism or malicious mischief.
    13. Diminution in the value of money, securities, or other property.
    14. Loss arising from debit or charge cards.
  8. Valuation of Property: Face value of money of the money issued in that country, the dollar equivalent of money or securities as determined by the rate of exchange by Wall Street on the day the loss was discovered.
  9. Limits: $10,000,000 Public Employee Dishonesty/Fidelity
    $10,000,000 Forgery or Alteration
    $10,000,000 On Premises
    $10,000,000 In Transit
    $10,000,000 Computer Crime
    $10,000,000 Funds Transfer Fraud
  10. Deductibles:
    1. $500,000 per incident.
    2. $1,000 per agency/university.