Why you need this course:
Crime losses exact a huge financial toll on businesses. Crime is the most prevalent cause of property loss. Many commercial property forms, such as the Building and Personal Property Coverage Form, exclude monetary losses entirely, and the causes of loss forms exclude most criminal acts. Knowing which commercial crime coverage to choose and the coverage provided will help you understand why this coverage is an effective method of managing crime exposures. This course uses the Insurance Services Office, Inc. (ISO) Commercial Crime Coverage Form and related endorsements as examples of these coverages. It also briefly covers financial institution bonds, which are used to insure banks, stockbrokers, insurance companies, and other financial institutions.

Upon successful completion of all six modules in this course, you should be able to:

• Describe the following eight insuring agreements contained in the Insurance Services Office, Inc. (ISO) Commercial Crime Coverage Form and policy:
  • Employee Theft
  • Forgery or Alteration
  • Inside the PremisesTheft of Money and Securities
  • Inside the PremisesRobbery or Safe Burglary of Other Property
  • Outside the Premises
  • Computer Fraud
  • Funds Transfer Fraud
  • Money Orders and Counterfeit Paper Currency
• Describe the following crime exclusions:
  • General exclusions
  • Exclusions applicable only to employee theft
  • Exclusions applicable to inside the premises and outside the premises
  • Exclusions applicable only to computer fraud
  • Exclusions applicable only to funds transfer fraud
• Describe the following conditions applicable to the crime form:
  • Interests insured
  • Where coverage applies
  • When coverage applies
  • Claims provisions
• Explain how each of the endorsements available in the ISO crime program modifies the coverage forms.
• Summarize the differences between the ISO government crime forms and the ISO commercial crime forms.
• Describe the Surety and Fidelity Association of America financial institution bonds used by financial institutions to insure crime loss exposures.

We recommend that you study the modules in the order presented in the course.

Cost of this course: $48 (2 Professional Development Hours @ $24 per hour)

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