Patent ID: 7716074

Claim:
A system for implementing an insurance program by an insurer to protect a club from a loss of at least one of initiation fees, dues, and assessments paid by a member to the club, said system comprising: a club database; and a server configured to: prompt a user associated with the club to input information to the insurer regarding the club including information pertaining to at least one of initiation fees, dues, and assessments paid by the member for membership with the club; receive and process the input information; based on the input information, indicate that the insurer is to enter into an insurance policy with the club; receive a notification from the club of a resignation of membership with the club by the member; and generate an insurance benefit payment to the club, wherein the insurance benefit payment includes at least a portion of the at least one of initiation fees, dues, and assessments paid by the member to the club, in response to notification of the resignation of the member from the club.