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ISO FORMS FI 00 11 06 05 AND FI 00 10 06 05

SUMMARY: ISO has developed a Crime Policy for Banks and Saving Institutions that is available in an aggregate and non-aggregate form. The policies provide coverage for a variety of perils associated with banking, and are part of ISO’s new Financial Institutions Program. Many of the perils deal specifically with fraud and the intent to improperly gain financially or to cause the institution deliberate harm. As the policies are very similar, the aggregate policy, FI 00 11 06 05 will be discussed, and any differences in the non-aggregate policy FI 00 10 06 05 will be noted in the analysis.

Topics covered:

Introduction Insuring agreement 1—fidelity Insuring agreement 2—on premiseInsuring agreement 3—in transit Insuring agreement 4—forged or altered instruments Insuring agreement 5—forged, altered or counterfeit securities Insuring agreement 6—counterfeit money Insuring agreement 7—computer fraud Insuring agreement 8—voice initiated transfer fraud Insuring agreement 9—telefacsimile transfer fund Insuring agreement 10—automated teller machine Insuring agreement 11—fraudulent mortgages Insuring agreement 12—stop payment or refusal to pay Insuring agreement 13—cash letter Insuring agreement 14—audit and claims expenseLimits of insurance-aggregate policyNon-aggregate limits of insurance-wording in non-aggregate policySingle loss deductible Exclusions Conditions Definitions


This policy contains fourteen insuring agreements, and coverage is provided under these agreements when a limit of insurance is listed in the Declarations. The loss must arise from an occurrence and be discovered by a designated person during the policy period. The terms in quotation marks are defined terms and, as such, are discussed subsequently in this article. See Definitions.

The non-aggregate policy shows a Limit of Insurance in the Declarations, and does not show a Single Loss Limit of Insurance as indicated in the aggregate policy.

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