Processing Claims for Employee Dishonesty (Fidelity Bond) Incidents

Policy No: 
8.12
Type of Policy: 
Administrative
Last Revised: 
March 2015
Review Date: 
March 2018
Policy Owner: 
Insurance and Claims Management
Contact Name: 
Tom Provancher
Contact Title: 
Director of Insurance, Claims & Property Control
Contact Email: 
tom.provancher@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 carrier if the loss is anticipated to exceed $250,000.
  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 DateAuthorDescription
March 2015Insurance and Claims ManagementMinor language and contact information update
Map of Georgia Tech

Compliance and Policy Management
760 Spring Street N.W. Suite 324
Phone: 404-385-0731