Government Crime Policy - Archived Article

Government Crime Policy—Archived Article

July, 2000

Discovery or Loss Sustained Form

Summary: As with the commercial crime policy—see Commercial Crime Policy—the new program incorporates two government crime forms, discovery and loss sustained. Eligible risks include most local governments, public utilities, fire districts, transit authorities, and state-funded hospitals. Also eligible are school districts or boards of education, and state schools, colleges, and universities.These policies are almost identical to the commercial crime policy. This treatment discusses the differences. The only policy language reproduced is where the government policies differ from the commercial policy.

Topics covered:DefinitionsEmployee theft—per loss or per employeeExclusionsConditions

 

Definitions

As with the commercial crime policy, the definitions are discussed here first. Only those definitions that differ from the commercial crime policy are highlighted. The following terms that are defined in the commercial crime policy are not included in the government crime policy: client; employee benefit plan(s); manager; and member. Even though the government policy, like the commercial policy, defines an employee as one associated with or handling the funds of an employee benefit plan, only the commercial policy defines employee benefit plan.

The omission of the definition of “employee benefit plan” may be significant. If money is missing from an “employee benefit plan” there may be some question of coverage if “employee benefit plan” is not defined.