Comprehensive Crime Insurance

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Item Information

ID
G3005C
Effective Date
2018-06-21
SACC Manual item status
Active
Parent Section
Insurance
SACC Item usage
Full text

Revision History

Date Status ID Title
2018-06-21 Active G3005C Comprehensive Crime Insurance (2018-06-21) G3005C
2008-05-12 Superseded G3005C ARCHIVED: Comprehensive Crime Insurance (2008-05-12) G3005C

Remarks – Recommended Use of SACC Item

Use the following clause in contracts when contractor's employees will have care, custody or control of money, securities, and other valuable property belonging to other parties such as administering cash or instruments of securities; property of value that is in the trust of the contractor or that the contractor purchases on behalf of Canada.

Employee Dishonesty insurance can be regarded as a formal bonding for the contractor's employees.

The limits are to be evaluated on a case-by-case basis. For further assistance, contact PWGSC Risk Management Advisory Services, at: NCR.RMIAS-SCGRA@pwgsc.gc.ca.

Legal text for SACC item

  1. The Contractor must obtain Comprehensive Crime (Fidelity) insurance on a Blanket basis, and maintain it in force throughout the duration of the Contract period, in an amount as listed below:
    1. Insuring Agreement 1: Employee Dishonesty (Form A) in an amount of not less than $ ______ covering all employees of the Contractor. Such Fidelity Insurance must contain a "Third-Party Extension" or "Client Coverage" extending such coverage to Canada with respect to the risks associated with this agreement.
    2. Agreement II/III: Money & Securities Loss Inside Premises/Outside Premises in an amount not less than $ ________ ;
  2. The Comprehensive Crime insurance must include the following:
    1. Notice of Cancellation: The Contractor will provide the Contracting Authority thirty (30) days prior written notice of policy cancellation or any changes to the insurance policy.
    2. Loss Payee: Canada as its interest may appear or as it may direct.
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