What it does
Under the base forms, Employee Theft covers all "employees", whether identified or not. CR 04 08 replaces that blanket approach with a schedule: only the named employees or positions shown are covered, each for the limit listed.
Who needs it
Smaller risks or specific positions that an underwriter or a contract wants bonded individually (for example a bookkeeper or treasurer), or accounts where blanket employee theft is not available.
How it fits the policy
Optional insuring agreements like this one are not part of the base forms. When attached, the agreement and its limit and deductible are shown in the declarations under the insuring agreements added by endorsement, and the agreement is subject to the base form's general exclusions and conditions, including the discovery or loss sustained trigger of the form it is attached to. ISO's forms index lists the current edition for 50 jurisdictions.
Quoting and selling notes
- Losses caused by employees not on the schedule are not covered; keep the schedule current with CR 25 36/CR 25 37 change schedule endorsements.
- Most commercial buyers are better served by blanket coverage; use this when it is the only option or when required.
