Common use of Commercial Crime Insurance Clause in Contracts

Commercial Crime Insurance. If Contractor handles or has regular access to the JBE’s funds or property of significant value to the JBE, this policy must cover dishonest acts including loss due to theft of money, securities, and property; forgery, and alteration of documents; and fraudulent transfer of money, securities, and property. The minimum liability limit must be $_______. [SECTION INSTRUCTIONS: Insert here an amount related to the value of property at risk] “Claims Made” Coverage. If any required insurance is written on a “claims made” form, Contractor shall maintain the coverage continuously throughout the Term, and, without lapse, for three years beyond the termination or expiration of this Agreement and the JBE’s acceptance of all Work provided under this Agreement. The retroactive date or “prior acts inclusion date” of any “claims made” policy must be no later than the date that Work commences under this Agreement. Umbrella Policies. Contractor may satisfy basic coverage limits through any combination of primary, excess or umbrella insurance.

Commercial Crime Insurance. If Contractor handles or has regular access to the JBE’s funds or property of significant value to the JBE, this policy must cover dishonest acts including loss due to theft of money, securities, and property; forgery, and alteration of documents; and fraudulent transfer of money, securities, and property. The minimum liability limit must be $_______. [SECTION INSTRUCTIONS: Insert here an amount related to the value of property at risk] “Claims Made” Coverage. If any required insurance is written on a “claims made” form, Contractor shall maintain the coverage continuously throughout the Term, and, without lapse, for three years beyond the termination or expiration of this Agreement and the JBE’s acceptance of all Work provided under this Agreement. The retroactive date or “prior acts inclusion date” of any “claims made” policy must be no later than the date that Work commences under this Agreement. Umbrella Policies. Contractor may satisfy basic coverage limits through any combination of primary, excess or umbrella insurance.

Commercial Crime Insurance. If Contractor handles or has regular access to the JBE’s funds or property of significant value to the JBE, this policy must cover dishonest acts including loss due to theft of money, securities, and property; forgery, and alteration of documents; and fraudulent transfer of money, securities, and property. The minimum liability limit must be $_______. [SECTION INSTRUCTIONS: Insert here an [ The specific amount related to will be completed in the value of property at riskfinal contract based on the RFP and the winning proposal ] “Claims Made” Coverage. If any required insurance is written on a “claims made” form, Contractor shall maintain the coverage continuously throughout the Term, and, without lapse, for three years beyond the termination or expiration of this Agreement and the JBE’s acceptance of all Work provided under this Agreement. The retroactive date or “prior acts inclusion date” of any “claims made” policy must be no later than the date that Work commences under this Agreement. Umbrella Policies. Contractor may satisfy basic coverage limits through any combination of primary, excess or umbrella insurance.