What it does
The government forms exclude loss caused by employees required by law to be individually bonded and by treasurers or tax collectors. CR 25 32 deletes those exclusions and pays loss caused by such persons above the amount of the individual bond requirement, whether or not the bond is in force or collectible.
Who needs it
Public entities whose officials must post individual statutory bonds and that want blanket coverage above those amounts.
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
- Get the statutory bond amounts; the policy pays only above them.
- Confirm the individual bonds are actually purchased; the endorsement does not fill the bond layer.
