What it does
CR 20 31 lists additional insureds whose losses are covered as joint insureds. Under the joint insured condition the first named insured acts for all insureds, knowledge of a designated person of any insured is knowledge of every insured, an employee of any insured is an employee of every insured, and the insurer will not pay more than it would for a single insured.
Who needs it
Groups of affiliated companies, franchisees, joint ventures, associations and client organizations that must be covered under one crime program.
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
- Because limits are shared, consider CR 25 31 blanket excess limits for specific joint insureds.
- Benefit plans can be added automatically with CR 20 35.
