What it does
CR 35 31 lets the underwriter apply separate sublimits to money, securities or checks under the inside-the-premises and outside-the-premises insuring agreements, so a cash or check loss is capped below the limit shown for the agreement as a whole.
Who needs it
Cash-intensive businesses where underwriters restrict cash exposure.
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
- Make sure the insured understands cash is sublimited below the headline limit.
