What it does
The territory condition sets where an occurrence must take place. The 06 22 forms cover occurrences anywhere in the world, while the 11 15 edition was limited to the United States, its territories and possessions, Puerto Rico and Canada. CR 20 30 replaces the condition, so read its schedule to see which territories it adds or removes.
Who needs it
Businesses with foreign operations, traveling employees or overseas bank accounts, and underwriters who want to exclude specific countries.
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. ISO's forms index lists the current edition for 52 jurisdictions.
Quoting and selling notes
- Ask about foreign subsidiaries, foreign bank accounts and overseas employees.
- Sanctioned countries remain subject to sanctions rules regardless of the territory.
