1. You agree to make/or cause to be made, at least annually, an audit of your books and accounts, including complete verification of all securities and bank balances pertaining to each “employee and/or volunteer”.
If the above is not complied with, the Insurance Company may refuse to honor claim of missing funds which cannot be proven by records. Monthly audits and reconciliation of bank statements may avoid this denial of claim.
2. The Insurance Company may not pay for loss resulting from any unauthorized advances made by an “employee” to any member for delinquent dues and assessments.
3. “Employee” means any duly elected position, or any appointed officer as listed in the policy schedule.
4. IF THE POLICY IS NOT RENEWED, TERMINATED, OR CANCELLED AT EXPIRATION DATE OF 9-1-2025, THE POST HAS ONLY 90 DAYS TO SUBMIT A PROOF OF LOSS FOR PRIOR TERM. AFTER 90 DAYS PRIOR COVERAGE CEASES.
5. POST MUST SUBMIT A PROOF OF LOSS FORM WITHIN 120 DAYS FROM THE FIRST DATE OF DISCOVERY OF LOSS.
THIS POLICY IS ONLY FOR THE YEAR
SEPTEMBER 1, 2025 TO SEPTEMBER 1, 2026
The funds of your Post are protected only for that year.
Premium for the following year with be due September 1, 2026