Common use of Crime Coverage Clause in Contracts

Crime Coverage. Crime Coverage is only required when the contracted services involve pick up, carry, guard or otherwise handle County money and securities (ex. cash, checks, warrants, bonds, vouchers), or other highly valued County property (ex. property to be auctioned). A Fidelity Bond or Crime Insurance policy with limits of not less than $ [insert Dept. estimate of the probable maximum loss exposure] per occurrence. Such coverage shall protect against all loss of money, securities, or other valuable property entrusted by County to contractor, and apply to all of contractor’s directors, officers, agents and employees who regularly handle or have responsibility for such money, securities or property. The County and its Agents shall be named as an Additional Insured and Loss Payee as its interests may appear. This insurance shall include third party fidelity coverage, include coverage for loss due to theft, mysterious disappearance, and computer fraud/theft, and shall not contain a requirement for an arrest and/or conviction.

Crime Coverage. Crime Coverage is only required when the contracted services involve pick up, carry, guard or otherwise handle County money and securities (ex. cash, checks, warrants, bonds, vouchers), or other highly valued County property (ex. property to be auctioned). A Fidelity Bond or Crime Insurance policy with limits of not less than $ [insert Dept. estimate of the probable maximum loss exposure] per occurrence. Such coverage shall must protect against all loss of money, securities, or other valuable property entrusted by County to contractor, and apply to all of contractor’s directors, officers, agents and employees who regularly handle or have responsibility for such money, securities or property. The County and its Agents shall must be named as an Additional Insured and Loss Payee as its interests may appear. This insurance shall must include third party fidelity coverage, include coverage for loss due to theft, mysterious disappearance, and computer fraud/theft, and shall must not contain a requirement for an arrest and/or conviction.