Processing Claims for Employee Dishonesty (Fidelity Bond) Incidents

Processing Claims for Employee Dishonesty (Fidelity Bond) Incidents
Type of Policy
Administrative
jbarber32
Policy No
8.12
Last Revised
Review Date
Policy Owner
Insurance and Claims Management
Contact Name
Frederick Trotter
Contact Title
Director of Insurance & Assets
Contact Email
Frederick.trotter@business.gatech.edu
Reason for Policy

Overview
Claims may be filed for dishonest acts and lack of faithful performance of an employee.

Policy Statement

General Guidelines/Applicable Coverages
Public Employee Dishonesty and Lack of Faithful Performance Coverage. Covers wrongful taking of money, securities, and property other than money by an employee alone or in collusion with others. A crime insurance policy provided by a commercial insurance company with a deductible is maintained by the DOAS. The coverage deductible is retained by DOAS and does not apply to Georgia Tech.

Procedures
  1. Notice of loss must be given as soon as possible. Claimant or person having knowledge of loss shall initiate an Incident Report with the Campus Police.
    Note:
    The carrier may choose not to honor a Notice of Claim filed after 30 days or a Proof of Loss after 120 days.
  2. Upon completion of the investigation, Georgia Tech Insurance & Claims Management will review all pertinent documents.
  3. Georgia Tech Insurance & Claims Management shall receive and assemble all documents including: incident report(s) statements of witnesses, photographs, recordings, bills, estimates, and property documentation.
  4. Georgia Tech Insurance & Claims Management shall notify DOAS, who in turn will notify the state's crime insurance company of the loss.
  5. Georgia Tech Insurance & Claims Management shall prepare a Proof of Loss statement and Notice of Claim with the assistance of GT Internal Audits and/or Office of Legal Affairs
  6. Upon completion of the investigation by DOAS or the insurance company, Georgia Tech Insurance & Claims Management will be advised of the acceptance or rejection of the claim.
Policy History

 

Revision Date Author Description
March 2015 Insurance and Claims Management Minor language and contact information update