CUNA Mutual Providing Temporary Increase in On Premise Limits
MESSAGE TO CUNA MUTUAL BOND POLICYHOLDERS from the SALES EXECUTIVE:
We’re living in unprecedented times and as the situation with coronavirus (COVID-19) continues to develop, CUNA Mutual Group is ready to serve you and your members when you need us most.
To support you during this difficult time with your cash management, effective today, March 19, 2020, we are automatically increasing the On Premises limits for our Bond Policyholders by $500,000.
- This increase is effective until May 18, 2020, 11:59:59 pm, at which time it will revert back to your limits in effect prior to March 19, 2020.
- This increase is provided at no charge and without any change in deductible.
- No action required by you.
If you need a higher limit, please contact your P&C Consultant or me.
- Please understand that we will underwrite these larger requests based on your safe/vault ratings and physical security.
- Increased limits may be subject to an increased deductible.
For credit unions with ATM Off Premises coverage: You already have the maximum limit we offer, therefore, we are unable to increase your ATM Off Premises limit. (Please note: ATMs that are in or up to 500 feet from your offices are covered under On Premises.)
RISK MANAGEMENT RESOURCES:
Our Risk and Compliance Team published several COVID-19 Risk Alerts that you may find helpful as you consider your business resilience plans.
- Coronavirus Outbreak Requires Precautionary Workplace Measures
- Increased Coronavirus Leads to Preparing Pandemic Response Plans
- Coronavirus Opens Doors to Scams
If you have specific risks, concerns, questions, or need to locate relevant resources; contact a CUNA Mutual Group Risk Consultant at 800.637.2676, firstname.lastname@example.org, Ask a Risk Consultant form, or schedule a virtual risk consultation through our online scheduling.
Please feel free to contact me with any questions. We are here to help navigate through this together.
CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Insurance products offered to financial institutions and their affiliates are underwritten by CUMIS Insurance Society, Inc. or CUMIS Specialty Insurance Company, members of the CUNA Mutual Group. Some coverages may not be available in all states. If a coverage is not available from one of our member companies, CUNA Mutual Insurance Agency, Inc., our insurance producer affiliate, may assist us in placing coverage with other insurance carriers in order to serve our customers’ needs. CUMIS Specialty Insurance Company, our excess and surplus lines carrier, underwrites coverages that are not available in the admitted market.