Club Management Liability
EMPLOYEE THEFT
What does this section cover?
This section covers the clubs and associations for direct losses of money, securities or other property suffered as a result of theft or forgery by any identifiable employee (including volunteers) whilst in the regular service of the club, affiliation or association and Investigative Costs of the club or association.
What are the cover limits?
| Cover | Limits of Cover and Deductibles |
|---|---|
| Employee Theft (A) | $25,000 any one coverage event and $100,000 in the aggregate separately per State Association $2,500 Deductible (costs inclusive) |
| Investigative Costs (B) | $10,000 Nil Deductible |
Where are you covered?
This section protects against liabilities in Australia or New Zealand only (in accordance with Policy Schedule).
Important Information about claims notification
It is a condition of this coverage that the Insured give written notice of any discovery at the earliest practicable moment and no later than ninety (90) days after such discovery, and provide proof of loss within four (4) months of such discovery.
What are some of the major exclusions under this section of the policy?
The following exclusions could affect you:
- Losses sustained prior to the inception date of the policy;
- Losses discovered and notified to insurer more than 60 days following termination of the cover.
- Indirect or consequential losses of any kind;
- Known dishonesty;
- Losses sustained more than 60 days after the termination of a dishonest employee;
- Losses sustained from accounts at financial institutions for which the Insured only requires one signatory/authorisation for transactions; and
- Employee Expenses – salaries or expenses incurred by an employee of the Insured to establish the existence of a loss.
This is a summary of cover only and does not purport to contain all policy terms, conditions and exclusions. Please refer to the policy wording for full details.
Please note that in some cases the cover available is broader than the cover outlined in the Standard Policy Wording. Please contact JLT Sport for further details.
