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What is Crime Insurance?
Crime Insurance, also known as Fidelity Insurance, provides protection to sports
associations against financial loss. Crime Insurance covers your association from
loss of money, securities or financial instruments resulting from a crime.
What types of claims are covered?
Typical Crime insurance claims allege employee dishonesty, embezzlement, forgery,
robbery, safe burglary, counterfeiting and other criminal acts. Claims usually fall
into two types of categories:
- Theft (Inside/Outside): pays for money and securities
taken by burglary, robbery, theft, disappearance and destruction. The crime can
take place on your premises (inside) or away from your property (outside) at a bank
or at a fundraiser, for example.
- Employee dishonesty coverage pays for losses
caused by dishonest acts of your employees or volunteers, such as embezzlement,
forgery or theft.
What is not covered by Crime Insurance?
This policy does not cover computer theft or fraud. The Crime policy also does not
provide protection for loss of equipment or other league property – that exposure
can be covered under the Equipment Insurance Plan.
Policy Limits
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Employee/Volunteer Dishonesty
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$25,000 limit per loss |
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Theft (Inside/Outside) |
$10,000 limit per loss |
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Depositor’s Forgery Coverage |
$10,000 limit per loss |
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Deductible
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$250 per claim |
View Specimen Policy
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Underwriting Carrier: Chubb Group of Insurance Companies, Warren, NJ. Chubb is rated
"A++ (Superior), XV" by A.M. Best’s rating service.
This policy is written on anoccurrence basis.
The Crime policy can also be packaged with Directors & Officers Liability insurance
to provide full protection to your association, with a savings of $60. Please click
on “Directors & Officers Liability” to view that plan’s details.
What is the Cost?
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Option 1:
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Crime insurance only as described above |
$175 per year |
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Option 2 (Package):
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Crime plus a $1 million
D&O policy
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$500 per year |
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Option 3 (Package):
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Crime plus a $2 million
D&O policy
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$885 per year |
Note: State surcharges and taxes may apply in Florida, Kentucky and New Jersey.
This calculation will be made upon checkout and will be reflected in the total billed
to you. If you have questions regarding these surcharges, please contact Bollinger
Sports at 1-800-526-1379.
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