What it does
CR 20 22 was used with the earlier crime forms, where discovery was measured by "you", to require that a specified person or position learn of a loss before it counts as discovered. The 06 22 forms define "designated person" (risk manager, partners, members, managers, directors, trustees, officers, the highest-ranking employee at a premises, and plan administrators and trustees) and measure discovery by that group, so ISO no longer needs this endorsement for most states; the forms index still lists the 10 10 edition only for a few jurisdictions.
Who needs it
Policies on older forms where large organizations want to avoid a low-level employee's knowledge triggering discovery.
How it fits the policy
This endorsement changes the base crime or fidelity form it is attached to and is listed with the other endorsements on the declarations. Schedules in the endorsement (names, positions, amounts or dates) control how it applies, so confirm the schedule is complete before binding.
Quoting and selling notes
- When moving a client to 06 22 forms, compare the new "designated person" definition with any names on the old endorsement.
