Page 159 - Brook-Hollow Due Diligence Package

0 0595 BES 0 0595 BES

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The direct financial loss sustained by the insured or by any client
Extension 2.2
for whose assets the insured has custody and control. A series
Funds Transfer Covered of related or continuous acts or omissions or events up to the
time of discovery shall be treated as a single act, omission or
Extension 2.3 event.
Incomplete Transactions Not Covered
Loss shall not include salaries, fees, commission, bonuses and
Extension 2.4 similar employee benefits earned in the normal course of
employment, including salary increases and promotions, other
Stop Payment Order Not Covered than bonuses, commissions or profit sharing paid to an
Extension 2.5 employee for a specific transaction with which such employee
was involved and in respect of which that employee had
Cash Letter Covered committed a wrongful act covered under this policy.
Extension 2.6 For the purposes of this amended definition of loss, client shall
Identity Fraud Not Covered mean a law firm or individual attorney that defers the receipt of a
legal fee by means of an assignment agreement with the insured
Extension 2.7
(6) Fraudulent Instruction Rider Endorsement – as attached
Fees/Cost/Expenses Covered (7) Any reference to GBP is hereby replaced with USD
(8) Any reference to AIG is hereby replaced with Vibe Syndicate
Extension 2.8 (9) Special cancellation endorsement – as attached
New Facilities Covered (10) Amendatory endorsement – definition of employee attached
(11) Computer Crime endorsement - as attached
Extension 2.9 (12) Retroactive date endorsement – as attached

New Subsidiaries Covered

Extension 2.10 CHOICE OF LAW
& JURISDICTION:
Discovery Period Covered (DISPUTES) Disputes Clause
The proper and exclusive law of this Insurance shall be Irish law. Any
disputes between the Assured and Underwriters arising under or in
connection with this Insurance policy shall be subject to the exclusive
RETENTION USD 200,000 Each and every loss jurisdiction of the Irish Courts.

TERRITORIAL
LIMITS: Worldwide PREMIUM: USD 63,000

POLICY PREMIUM PAYMENT
JURISDICTION: As described in the policy wording TERMS: 60 day Premium Payment Clause LSW3000 as attached

CONDITIONS: Wording: TAX(ES) PAYABLE
(1) 60 day Premium Payment Clause LSW3000 as BY THE INSURED (and
attached administered by
(2) Proposal form dated 15 November 2019 Insurer(s)): 3% Government Levy
th
(3) Sanctions Clause LMA3100 , as attached 2% Insurance Compensation Fund (ICF) Levy
(4) It is hereby noted and agreed that any newly formed LLP’s that
fall under full control and supervision of the Insured will be
automatically covered
(5) The definition of loss is amended as follows:

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Besso Limited. A Subsidiary Of Besso Insurance Group Limited Besso Limited. A Subsidiary Of Besso Insurance Group Limited
8 -11 Crescent, London EC3N 2LY 8 -11 Crescent, London EC3N 2LY
Authorised and regulated by the Financial Conduct Authority, FCA Firm Reference No. 309159 Authorised and regulated by the Financial Conduct Authority, FCA Firm Reference No. 309159
Registered in England Number 00910680 Registered in England Number 00910680
www.besso.co.uk www.besso.co.uk