Miami Valley Risk Management Association
Bond Coverage Policy

Originally Adopted by MVRMA Board: 06/28/00

PURPOSE

This policy has been established in order to define Miami Valley Risk Management Association’s responsibility for providing scheduled surety bonds to its members.

POLICY STATEMENT

Effective 06/28/00, it shall be the policy of the Miami Valley Risk Management Association to provide only those scheduled surety bonds required by charter, ordinance or other statutory requirement as part of the normal coverage furnished to members.  Documentation of all required scheduled bonds shall be provided to MVRMA at the time of application.  It is further stated that for any member requiring “all employees” be bonded, the limit for coverage within the MVRMA program will be $2,500 per employee.  Bonds obtained through MVRMA, which do not meet this criteria, will be an additional expense billed separately to the member city.