R628-4-2. Crime Insurance

A. Every public treasurer shall secure crime insurance in the amount shown in Section R628-4-4. 1. Crime insurance must be issued by: a) an insurer licensed to do business in Utah and having a current A.M. Best Rating of "A" or better; or b) an interlocal agency created under Section 11-13-101 operating as a joint self-insurance fund. A joint self-insurance fund providing crime coverage under this section must maintain a restricted account in the PTIF equal to 50% of the per occurrence limit of coverage. B. Insurance should be effective as of the date the treasurer assumes the duties of the office or is sworn in.