Covers your money, securities, and other property against loss from employee theft caused by employees, or your community management firm. The maximum recovery for any one loss occurrence is the limit, which you select, regardless of the number of employees involved. This coverage is ideal for the management firm owner[s] and their employees that manage community associations as an agent.

Covers loss by forgery or alteration of, on or in any checks, drafts, promissory notes or similar written promises, orders or directions to pay money that are made or drawn upon your accounts by someone acting as your agent, or that are purported to have been so made or drawn. This coverage protects you against forgery losses caused by a person other than an employee or manager. This coverage is important in case of interception of postal mail by a criminal who then forges or alters the instrument or security.

Covers loss of your money and securities by theft, disappearance, or destruction while the property is within your premises or banking premises, or while your money and securities are outside your premises in the possession of a messenger. This coverage protects you against losses caused by theft, robbery, and safe burglary when caused by persons other than employees. This coverage is important due to the potential of evidence (securities) being destroyed by a perpetrator in an attempt to cover their identity after a burglary. For a community association, this coverage is priced very reasonably, and it is also highly recommended that management firms protect their assets against robbery.

Covers loss of any of your property, other than money or securities, while inside your premises in the custody of assigned personnel or while in a safe or vault inside your premises. Your property, other than money and securities, may be covered while it is outside the premises in the custody of a messenger. Your property, other than money and securities, is only protected if the loss is caused by robbery or safe burglary by persons other than employees.

Covers loss of your money, securities, and other property by computer fraud. This coverage protects your money, securities, and other property from theft which follows and is directly related to the use of any computer to fraudulently cause a transfer of that property from inside your premises or a banking premises to a person or place outside that premises. This also covers your money and securities through funds transfer, fraud resulting from fraudulent transfer instructions communicated to a financial institution. This coverage excludes losses caused by employees. As much as $250 Billion a year is lost by American corporations from theft of intellectual property alone. Intellectual property cannot be bonded; however, the transfer of funds electronically should be covered.

Footnote: This information explains the general purposes of the insurance described but in no way changes or affects the insurance afforded under any policy as actually issued.  For a precise explanation of coverage afforded under the policy, consult the policy itself.