Common use of Crime Insurance Clause in Contracts

Crime Insurance. Contractor shall maintain during the term of the Contract Crime Insurance on a “loss sustained form” or “loss discovered form,” and coverage must include the following:  The policy must allow for reporting of circumstances or incidents that might give rise to future claims.  The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy.  Any warranties required by the Contractor’s insurer as a result of this Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract.  The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees” as “Loss Payees” for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable.  The policy shall not contain a condition requiring an arrest and conviction.  The policy shall include coverage for computer crime/fraud.

Crime Insurance. Contractor shall maintain during the term of the Contract Crime Insurance on a “loss sustained form” or “loss discovered form,” and coverage must include the following:  • The policy must allow for reporting of circumstances or incidents that might give rise to future claims.  • The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy.  • Any warranties required by the Contractor’s insurer as a result of this Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract.  • The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees” as “Loss Payees” for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable.  • The policy shall not contain a condition requiring an arrest and conviction.  • The policy shall include coverage for computer crime/fraud.

Crime Insurance. The Contractor shall maintain maintain, during the term of the Contract Contract, Crime Insurance on a “loss sustained form” or “loss discovered form,” and coverage must include the following:  The policy must allow for reporting of circumstances or incidents that might give rise to future claims.  The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy.  Any warranties required by the Contractor’s insurer as a result of this the Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract.  The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees” as “Loss Payees” for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable.  The policy shall not contain a condition requiring an arrest and conviction.  The policy shall include coverage for computer crime/fraud.

Crime Insurance. The Contractor shall maintain maintain, during the term of the Contract Contract, Crime Insurance on a “loss sustained form” or “loss discovered form,” and coverage must include the following:  • The policy must allow for reporting of circumstances or incidents that might give rise to future claims.  • The policy must include an extended reporting period of no less than one (1) year with respect to events which occurred but were not reported during the term of the policy.  • Any warranties required by the Contractor’s insurer as a result of this the Contract must be disclosed and complied with. Said insurance shall extend coverage to include the principals (all directors, officers, agents and employees) of the Contractor as a result of this Contract.  • The policy shall include coverage for third party fidelity and name “The People of the State of New York, the New York State Office of General Services, any entity authorized by law or regulation to use this Contract as an Authorized User and their officers, agents, and employees” as “Loss Payees” for all third party coverage secured. This requirement applies to both primary and excess liability policies, as applicable.  • The policy shall not contain a condition requiring an arrest and conviction.  • The policy shall include coverage for computer crime/fraud.