Which entities are not eligible for ISO Commercial Crime Forms?

Financial institutions are not eligible for ISO Commercial Crime Forms because they have specific coverage needs that may not be adequately addressed by standard ISO provisions. ISO (Insurance Services Office) develops standardized insurance products, including forms for crime coverage, which are designed primarily for industries outside of the banking and financial services sectors.

Financial institutions operate under different regulatory frameworks and face unique risks that are directly tied to their financial operations, such as fraud, cyber threats, and other specialized exposures. Because of these unique risks, they typically require customized crime coverage forms or specialized policies that are tailored to their specific needs, rather than using the standard ISO forms that are applicable to other types of businesses.

In contrast, publicly traded companies, nonprofit organizations, and private equity firms may not have the same specialized coverage requirements as financial institutions and can often use ISO forms to adequately cover their crime-related risks. This distinction highlights why financial institutions are ineligible for the standard ISO Commercial Crime Forms.