1. Forms
2. CR
3. CR-DS-08

What the Form Is

The CR DS 08 is an Insurance Services Office (ISO) declarations page specifically designed for use with the Government Employee Theft and Forgery Policy. Its primary purpose is to outline the specific coverage selections, limits of insurance, and deductible amounts chosen by the insured governmental entity. This form personalizes the policy by clearly listing key information such as the named insured, the policy period, the specific insuring agreements that apply (which are limited to Employee Theft – Per Loss Coverage, Employee Theft – Per Employee Coverage, and Forgery and Alteration), the corresponding limits of insurance for each selected coverage, and the applicable deductible amounts.

Classes of Business It Applies To

This form is exclusively for governmental entities and public bodies. Examples include:

• Municipalities (cities, towns, villages)
• County governments
• State agencies and departments
• Public school districts
• Special purpose districts (e.g., water, sanitation, fire, park districts)

It is designed to address the particular risks of employee dishonesty and forgery faced by these public sector organizations.

Special Considerations

• The CR DS 08 declarations page must be used in conjunction with the corresponding Government Employee Theft and Forgery Policy form (which could be a discovery or loss sustained version).
• The insuring agreements listed on this declarations page are specifically Employee Theft (with options for Per Loss or Per Employee coverage) and Forgery and Alteration. It's important to note that other crime coverages, such as Inside the Premises–Theft of Money and Securities or Computer Fraud, are not part of this particular policy and would require a broader Government Crime Policy.
• Governmental entities often have unique statutory or regulatory requirements regarding insurance or bonding for public officials and employees. This policy may help satisfy some of these obligations.
• A critical choice declared on this form is whether Employee Theft coverage is on a 'Per Loss' or 'Per Employee' basis, which significantly affects how the policy limits are applied in the event of a loss, especially if multiple thefts or employees acting in collusion are involved.

Key Information for Agents and Underwriters

• Risk Assessment: Underwriters should thoroughly evaluate the governmental entity's internal controls, segregation of duties, auditing practices, and oversight mechanisms. Factors such as the number of employees, their level of access to funds and valuable assets, and the nature of their responsibilities are crucial in assessing risk.
• Limit Adequacy: Agents play a key role in helping governmental clients select appropriate limits of insurance for employee theft and forgery. This involves analyzing the entity's potential maximum loss from a single dishonest act or a series of related acts by one or more employees.
• Deductible Options: The chosen deductible level directly impacts the premium and the amount of risk the governmental entity retains. This should be set at a level the entity can comfortably absorb.
• Identifying Coverage Gaps: Since the Government Employee Theft and Forgery Policy provides a specific set of coverages, agents must assess whether the entity has exposures to other crime-related losses (e.g., theft of money from the premises, computer crime, funds transfer fraud) that are not covered. If such gaps exist, broader crime policies or additional endorsements should be recommended.
• Faithful Performance of Duty: Governmental entities may also require 'Faithful Performance of Duty' coverage, which insures against losses resulting from an employee’s failure to faithfully perform their duties as prescribed by law, rather than just dishonest acts. This coverage may sometimes be added by endorsement (e.g., CR 25 19) to a government crime policy.
• Compliance: Agents and underwriters should be aware of any state or local statutes that mandate specific types or amounts of insurance or bonding for public employees and ensure the coverage provided, as detailed on the CR DS 08, aligns with these requirements.