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ISO Form FI 00 30 06 05

Summary: In response to industry feedback that indicated an interest in ISO supporting the entire fidelity line of business, ISO has developed a Financial Institutions Program as a new line of business. This article provides an overview of form FI 00 30 06 05 the form provides direct loss coverage for property surrendered as ransom or extortion payments, expenses incurred in handling kidnap/extortion situations, expenses in detention/hijack situations and loss of property from a messenger in transit to make such payments. The policy is subject to certain exclusions and conditions which are discussed. Definitions of terms specific to this type of coverage are also analyzed.

Topics covered:

Introduction Insuring Agreement 1—Kidnap/Ransom and Extortion—Direct Loss Insuring Agreement 2—Kidnap/Ransom and Extortion— Expenses Incurred Insuring Agreement 3—Detention or Hijack Insuring Agreement 4—In-Transit Delivery of Property Limits of Insurance and Deductible Exclusions Conditions Definitions


This policy contains four 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 take place during the policy period. The loss must be reported during the policy period or during the extended reporting period. The extended reporting period is an extended period of time beyond the expiration of the policy during which an insured may report a loss that occurred during the policy period. The terms in quotation marks are defined terms and, as such, are discussed subsequently in this article. See Definitions.

This is claims-made policy form; losses that occurred during the policy period must be reported during the policy period or the extended reporting period in order for coverage to be provided. Any losses occurring outside of the policy period will not be covered.

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