What it does
CR 25 31 adds, for each joint insured in the schedule, a blanket excess limit on top of the declarations limit. The excess limit responds only to the part of a loss above the declarations limit plus deductible, and only for loss caused by an employee of the scheduled insured; the joint insured condition that caps payment at a single insured's amount does not apply to it.
Who needs it
Organizations covering several entities under one policy where some need higher limits, such as state agencies, affiliated companies or a parent and its subsidiaries.
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
- Use when one subsidiary or department handles far more money than the rest.
