1. Forms
2. CR
3. CR-00-18

What the Form Is

ISO form CR 00 18, officially titled Robbery and Safe Burglary Coverage Form - Money and Securities (sometimes referred to as Commercial Crime Coverage Form Q), is a specific grant of coverage within commercial crime insurance. Its fundamental purpose is to protect a business against the financial loss of money and securities due to the criminal acts of robbery or safe burglary. The coverage typically applies when these assets are within the insured's premises or a banking premises and secured in a safe or vault, or when on the premises and under the control of a designated custodian.

Classes of Business It Applies To

This coverage is crucial for any commercial enterprise that handles or stores money and securities and is therefore exposed to the risk of their theft through robbery or burglary. Examples include:

• Retail establishments (e.g., supermarkets, department stores, boutiques) that maintain cash in registers and safes.
• Hospitality businesses such as restaurants, bars, and hotels that have significant cash transactions.
• Service businesses that collect payments in cash or checks (e.g., medical offices, repair shops).
• Financial institutions might use this or more specialized forms for certain exposures.
• Any office environment that keeps petty cash, receives checks, or has other valuable securities on site.

For instance, a restaurant that keeps its daily cash earnings in a locked safe overnight would rely on this coverage if the safe were burglarized. Similarly, if a cashier at a retail store is robbed at gunpoint, this form would address the loss of money from the register.

Special Considerations

• Precise Definitions: The policy's definitions of 'money', 'securities', 'robbery', 'safe burglary', and 'custodian' are paramount. 'Robbery' usually involves theft from a person by violence or threat of violence. 'Safe burglary' typically requires evidence of forcible entry into a locked safe or vault. A 'custodian' is generally the insured, a partner, or an employee authorized to have care and custody of insured property within the premises, but usually excludes watchpersons or janitors for certain coverages.
• Common Exclusions: Policyholders should be aware of typical exclusions, such as losses resulting from dishonest acts by employees (which is covered under a separate insuring agreement like Employee Theft, e.g., CR 00 01 ), accounting or arithmetical errors, or voluntary parting with property due to trickery or deception. Losses from threats to do bodily harm or damage property if the property is surrendered outside the premises based on unauthorized instructions may also be excluded.
• Protective Safeguards: The effectiveness of the coverage can be tied to the maintenance of specified security measures, like alarm systems or certain types of safes. Endorsements such as CR 15 09 (Protection Devices or Services Provision) or CR 15 10 (Forcible Entry Into Premises Required) might be part of the policy.
• Scope of Covered Property: This form is specifically for 'money' and 'securities'. Loss of other types of property (e.g., merchandise, equipment) due to robbery or safe burglary would necessitate a different coverage form, like CR 00 05 (Robbery and Safe Burglary Coverage Form—Property Other Than Money and Securities).

Key Information for Agents and Underwriters

• Risk Evaluation: Underwriters will scrutinize the applicant's business operations, the typical amounts of money and securities present, physical security measures (quality of safes, alarm systems, surveillance, access controls), employee screening and training, hours of operation, and the crime exposure of the location.
• Setting Limits and Deductibles: Agents must guide clients in selecting appropriate insurance limits that reflect their maximum potential loss for money and securities, alongside a manageable deductible.
• Underwriting Controls: Due to the liquid nature of the assets covered, underwriters are particularly vigilant about moral hazard and internal controls within the insured's business.
• Identifying Coverage Gaps: It's vital for agents to explain that CR 00 18 is specific. For instance, it doesn't cover employee theft, mysterious disappearance (unless endorsed), or theft that doesn't meet the definitions of 'robbery' or 'safe burglary'.
• Modern Crime Programs: While CR 00 18 represents a traditional approach to this coverage, newer ISO Commercial Crime programs (e.g., utilizing forms like CR 00 20, CR 00 21, CR 00 22, CR 00 23) often consolidate various crime insuring agreements into a more comprehensive policy structure. Agents and underwriters should be aware of how CR 00 18 fits within the insured's overall crime coverage portfolio, whether as a standalone coverage or as a component whose principles are embedded in a broader form.