What it does
CR 25 47 amended the 11 15 crime forms so that coverage for employee benefit plans met U.S. Department of Labor requirements for ERISA section 412 bonds. The 06 22 forms build ERISA compliance into the base forms through a separate ERISA Plan Official Dishonesty insuring agreement: no deductible, an automatic increase to the ERISA minimum limit, and a one-year extended discovery period for ERISA plans. Carriers moving to 06 22 list CR 25 47 among the forms replaced.
Who needs it
Policies still on 11 15 forms that cover an ERISA plan.
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
- On renewal to 06 22 forms, confirm the ERISA Plan Official Dishonesty limit is shown and each plan is named.
- ISO's forms index still shows the 09 17 edition, for use with the older forms.
