1. Forms
2. CR
3. CR-DS-06

What the Form Is

The CR DS 06, titled "Crime and Fidelity Coverage Part Declarations (Kidnap/Ransom and Extortion Coverage)", is an Insurance Services Office (ISO) declarations form. It is specifically designed to be used with Kidnap/Ransom and Extortion coverage forms, such as CR 00 40 (Kidnap/Ransom and Extortion Coverage Form) and CR 00 41 (Kidnap/Ransom and Extortion Coverage Form Policy). This declarations page personalizes the policy by itemizing key information such as the named insured, the policy period, the specific insuring agreements that apply, the limits of insurance for each, and the applicable deductible amounts. It essentially activates and defines the scope of the Kidnap/Ransom and Extortion coverage being provided.

Classes of Business It Applies To

This form is relevant for a wide range of commercial entities and individuals who face potential risks of kidnap, ransom, or extortion. Examples include:

• Multinational corporations with employees who travel to or are based in high-risk countries.
• High-profile executives or public figures who might be targeted due to their status or wealth.
• Financial institutions that handle large sums of money or sensitive information.
• Organizations whose employees or operations could make them targets for extortion demands.
• High-net-worth individuals and families concerned about personal security.

Special Considerations

• Activation of Coverage: It is critical to understand that coverage under the associated Kidnap/Ransom and Extortion forms (e.g., CR 00 40, CR 00 41) only applies to those insuring agreements for which a limit of insurance and a deductible amount are specifically entered on this CR DS 06 declarations page. If an insuring agreement is listed but no limit or deductible is shown, that particular coverage is not active.
• Policy Structure: This declarations form is a component of a larger policy structure. It works in conjunction with the main coverage form(s) and typically the Common Policy Conditions (e.g., IL 00 17), which outlines general terms and conditions applicable to the policy.
• Accuracy is Key: All information on the declarations, including the spelling of the named insured, the policy period, and the monetary values for limits and deductibles, must be accurate to ensure the policy responds as intended in the event of a claim.

Key Information for Agents and Underwriters

• Agents: Agents must thoroughly discuss with the insured their specific exposures to kidnap, ransom, and extortion threats to ensure the appropriate insuring agreements are selected and adequate limits of insurance are chosen. The agent is responsible for accurately completing this form to reflect the terms agreed upon.
• Underwriters: Underwriters use the information on the CR DS 06 to understand the specific scope of coverage being provided and the insurer's maximum potential payout for different types of kidnap, ransom, or extortion events. The selection of insuring agreements, limits, and deductibles are key factors in risk assessment and pricing for this specialized coverage.
• Endorsements: This declarations page will also typically list any endorsements that are attached to the policy which may alter or amend the standard coverage provided by the main coverage forms.
• Named Insured and Covered Persons: Clarity on who qualifies as a "Covered Person" under the policy (often including employees, directors, and their relatives as defined in the coverage form) is crucial, and the named insured should be precisely identified on this declarations page.