What it does
CR 20 35 adds an "omnibus" joint insured provision for employee benefit plans, so the insured's plans are brought in as joint insureds without listing each one individually.
Who needs it
Employers that sponsor 401(k), pension or welfare plans and want every plan covered without updating the schedule.
How it fits the policy
This endorsement changes the base crime or fidelity form it is attached to and is listed with the other endorsements on the declarations. Schedules in the endorsement (names, positions, amounts or dates) control how it applies, so confirm the schedule is complete before binding. ISO's forms index lists the current edition for 52 jurisdictions.
Quoting and selling notes
- ERISA plans still need an adequate ERISA Plan Official Dishonesty limit; see CR 25 50 for scheduling limits by plan.
- DOL guidance allows a plan to be added as a named insured on an employer's crime policy if the coverage meets ERISA section 412.
