AR 215-1 - Soldier Support Institute - U.S. Army

h. Reinstatement. Any covered loss will not reduce the amount of this coverage’s per occurrence limit.
i. Recoveries. Any recovery or salvage on a loss will accrue to RIMP’s benefit until the sum paid by RIMP is
repaid.
j. Definitions.
(1) “Loss” means accidental loss or damage.
(2) “Actual cash value” means the present-day value of property measured in cash, arrived at by taking the
replacement cost and deducting for depreciation brought about by physical wear and obsolescence where applicable.
k. Debris removal.
(1) This coverage will cover the cost of removal of debris of property resulting from a covered loss.
(2) This coverage will not cover the following expenses:
(a) The cost of removal of debris of property not insured hereunder from the premises of the insured.
(b) Decontamination of debris.
(c) Extraction of contaminants or pollutants from land or water.
(d) Removal, restoration, or replacement of contaminated or polluted land or water.
l. Cancellation. This coverage will be cancelled by stating in writing the future date it is anticipated to be cancelled.
m. Due diligence clause. The NAFI/entity will use due diligence and do and concur in doing all things reasonably
practicable to avoid or diminish any loss or any circumstance likely to give rise to a loss or claim covered under this
coverage. It is agreed that this coverage will extend to indemnify the NAFI/entity for any ascertained net loss of
additional incurred expenses and/or increased costs necessarily incurred by the NAFI/entity to avoid or diminish any
such loss or claim, subject to any deductible provision, provided, however, that in no circumstances will RIMP’s
maximum liability under this coverage be greater than the sum insured as declared, or that which would have been
incurred had the NAFI/entity not incurred said increased costs and/or additional out-of-pocket expenses, or in any event
exceed the limits of liability of this coverage.
n. Premises protection. It is a condition of this insurance that the NAFI/entity will maintain such protective
safeguards as were represented by the NAFI/entity to be in effect at the time that this coverage was approved by RIMP.
Failure to maintain such protection safeguards will void this coverage to the extent of any loss resulting from or
contributed to by the lack of such protective safeguards.
Appendix M
NAFI/Entity Asset Losses
Section I
Reports of Investigation
M–1. General
Normally, the fund manager/entity administrator will be responsible for NAF property and for initiating reports of
losses to proper authorities (military police, fire marshal, ACIF, or the approval authority). The person designated to
investigate the incident will coordinate any investigative effort with the applicable law enforcement agency (Office of
the Provost Marshal and U.S. Army Criminal Investigation Command) as appropriate and will be senior to the person
being investigated (commissioned or warrant officer; NCO, E–7 or above; or a civilian employee GS–7 or above).
Reports will be submitted to the approval authority within 15 days of the discovered loss and prepared in a standard
memorandum format shown in AR 25–50, unless another format is prescribed locally. Reports will include facts and
circumstances surrounding the loss, specific findings, and recommendations. Interview with principals and witnesses
and examination of documents and physical evidence will also contribute to the development of findings and
recommendations. They will be included as part of the report along with any rebuttal, reconsideration, appeal, and legal
opinion which may result.
M–2. Reports
Reports will include—
a. Date, time, and location of the incident.
b. Description of lost, damaged, or destroyed items to include the makes, models, serial numbers, and quantities.
c. Value determined as follows:
(1) Cash: the actual dollar amount. For foreign currency, the actual amount in the foreign denomination and its
equivalent value in U.S. dollars.
(2) Securities: market value at the close of business on the day the loss was discovered.
(3) Property: fair market value at the time of the loss, if available, or original acquisition cost, less depreciation
shown in table 20–1.
216 AR 215–1 • 31 July 2007