April 9, 2012
VIA EDGAR
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Re: | Solar Capital Ltd. File No. 814-00754 |
Rule 17g-1(g) Fidelity Bond Filing
Dear Sir or Madam:
Enclosed for filing, on behalf of Solar Capital Ltd. (the Corporation), pursuant to Rule 17g-1(g) of the Investment Company Act of 1940, please find the following:
(i) copy of the fidelity bond covering the Corporation, which includes a statement as to the period for which premiums have been paid; and
(ii) a Certificate of the Secretary of the Corporation containing the resolutions of the Board of Directors approving the amount, type, form and coverage of the Fidelity Bond and a statement as to the period for which premiums have been paid.
Very truly yours, |
SOLAR CAPITAL LTD. |
/s/ NICHOLAS RADESCA |
Nicholas Radesca |
Chief Financial Officer and Secretary |
Enclosures
CERTIFICATE OF THE SECRETARY
The undersigned, Nicholas Radesca, Chief Financial Officer and Secretary of Solar Capital Ltd., a Maryland corporation (the Corporation), does hereby certify that:
1. This certificate is being delivered to the Securities and Exchange Commission (the SEC) in connection with the filing of the Corporations fidelity bond (the Bond) pursuant to Rule 17g-1 of the Investment Company Act of 1940, as amended, and the SEC is entitled to rely on this certificate for purposes of the filing.
2. The undersigned is the duly elected, qualified and acting Chief Financial Officer and Secretary of the Corporation, and has custody of the corporate records of the Corporation and is a proper officer to make this certification.
3. Attached hereto as Exhibit A is a copy of the resolutions approved by the Board of Directors of the Corporation, including a majority of the Board of the Directors who are not interested persons of the Corporation, approving the amount, type, form and coverage of the Bond.
4. Premiums have been paid for the period March 31, 2012 to March 31, 2013.
IN WITNESS WHEREOF, the undersigned has caused this certificate to be executed this 9th day of April, 2012.
/s/ NICHOLAS RADESCA |
Nicholas Radesca |
Chief Financial Officer and Secretary |
EXHIBIT A
Approval of Fidelity Bond
WHEREAS, Section 17(g) of the Investment Company Act of 1940, as amended (the 1940 Act), and Rule 17g-1(a) thereunder, requires each business development company (BDC), such as Solar Capital Ltd. (the Company), to provide and maintain a bond which shall be issued by a reputable fidelity insurance company, authorized to do business in the place where the bond is issued, to protect the Company against larceny and embezzlement, covering each officer and employee of the BDC who may singly, or jointly with others, have access to the securities or funds of the BDC, either directly or through authority to draw upon such funds of, or to direct generally, the disposition of such securities, unless the officer or employee has such access solely through his position as an officer or employee of a bank (each, a covered person); and
WHEREAS, Rule 17g-1 specifies that the bond may be in the form of (i) an individual bond for each covered person, or a schedule or blanket bond covering such persons, (ii) a blanket bond which names the Company as the only insured, or (iii) a bond which names the Company and one or more other parties as insureds, as permitted by Rule 17g-1; and
WHEREAS, Rule 17g-1 requires that a majority of directors who are not interested persons of the BDC, as such term is defined under the 1940 Act (the Non-Interested Directors), approve periodically (but not less than once every 12 months) the reasonableness of the form and amount of the bond, with due consideration to the value of the aggregate assets of the Company to which any covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of such assets, and the nature of securities and other investments to be held by the Company, and pursuant to factors contained in the Rule which are described in the accompanying memorandum attached hereto; and
WHEREAS, under Rule 17g-1, the Company is required to make certain filings with the U.S. Securities and Exchange Commission and give certain notices to each member of the Board of Directors in connection with the bond, and designate an officer who shall make such filings and give such notices;
WHEREAS, the Board of Directors, including all of the Non-Interested Directors, have received and reviewed a copy of the current fidelity bond issued by National Union Fire Insurance Company of Pittsburgh Pennsylvania, a reputable fidelity insurance company, in the amount equal to $3,000,000 (the Current Fidelity Bond), which is attached hereto as an exhibit; and
WHEREAS, the Board of Directors, including all of the Non-Interested Directors, have considered the expected aggregate value of the securities and funds of the Company to which the Companys officers and employees may have access (either directly or through authority to draw upon such funds or to direct generally the disposition of such securities), the type and terms of the arrangements made for the custody of such securities and funds, the nature of securities and other investments to be held by the Company, the accounting procedures and controls of the Company, the nature and method of conducting the operations of the Company, the requirements of Section 17(g) of the 1940 Act and Rule 17g-1 thereunder, and all other factors deemed relevant by the Board of Directors, including such Non-Interested Directors; and
NOW THEREFORE BE IT RESOLVED, by the Board of Directors, including all of the Non-Interested Directors, that the terms of the Current Fidelity Bond, including the amount of coverage, form and premium for such bond be, and hereby are, approved; and
FURTHER RESOLVED, by the Board of Directors, including all of the Non-Interested Directors, that Authorized Officers be, and hereby are, authorized by and on behalf of the Company to negotiate, execute and deliver such documents or agreements as may be necessary to cause a new fidelity bond (the New Fidelity Bond) to be issued by National Union Fire Insurance Company of Pittsburgh Pennsylvania upon expiration of the Companys Current Fidelity Bond; provided, that (i) such New Fidelity Bond is issued on substantially the same terms and conditions as the Current Fidelity Bond, including with respect to the amount of coverage and form for such bond, and (ii) the premium for the New Fidelity Bond is no greater than 110% of the premium paid for the Current Fidelity Bond; and
FURTHER RESOLVED, by the Board of Directors, including all of the Non-Interested Directors, that the terms of the New Fidelity Bond, including the amount of coverage, form and premium for such bond, be, and hereby are approved; provided, that such New Fidelity Bond is issued in conformity with the foregoing resolution; and
FURTHER RESOLVED, by the Board of Directors, including all of the Non-Interested Directors, that each of the officers of the Company be, and hereby is, authorized to file a copy of the New Fidelity Bond with the U.S. Securities and Exchange Commission; and
FURTHER RESOLVED, that each of the Authorized Officers of the Company is hereby authorized in the name and on behalf of the Company, to make or cause to be made, and to execute and deliver, all such additional agreements, documents, instruments and certifications and to take all such steps, and to make all such payments, fees and remittances, as any one or more of such officers may at any time or times deem necessary or desirable in order to effectuate the purpose and intent of the foregoing resolutions; and
FURTHER RESOLVED, that for the purposes of the foregoing resolutions, the Authorized Officers of the Company shall be the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer of the Company (the Authorized Officers).
National Union Fire Insurance Company of Pittsburgh, Pa.
A capital stock company
POLICY NUMBER: 01-686-01-89 |
REPLACEMENT OF POLICY NUMBER: 01-649-15-73 |
INVESTMENT COMPANY BLANKET BOND
DECLARATIONS
ITEM 1. |
Name of Insured (herein called Insured): | SOLAR CAPITAL, LTD | ||||||||
Principal Address: |
|
500 PARK AVE FL 5 NEW YORK, NY 10022-1606 |
| |||||||
|
||||||||||
ITEM 2. |
Bond Period: from 12:01 a.m. March 31, 2012 to March 31, 2013 the effective date of the termination or cancellation of this bond, standard time at the Principal Address as to each of said dates. | |||||||||
|
||||||||||
ITEM 3. |
Limit of Liability - Subject to Sections 9, 10 and 12 hereof, | |||||||||
Single Loss Limit of Liability |
Single Loss Deductible |
|||||||||
Insuring Agreement A (Fidelity) | $ 3,000,000 | $ | 0 | |||||||
Insuring Agreement B (Audit Expense) | $ 50,000 | $ | 10,000 | |||||||
Insuring Agreement C (On Premises) | $ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement D (In Transit) | $ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement E (Forgery or Alteration) |
$ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement F (Securities) |
$ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement G (Counterfeit Currency) |
$ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement H (Stop Payment) |
$ 100,000 | $ | 5,000 | |||||||
Insuring Agreement I (Uncollectible Items of Deposit) |
$ 100,000 | $ | 5,000 | |||||||
Additional Coverages: | ||||||||||
Insuring Agreement J (Computer Systems) |
$ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement K (Unauthorized: Signatures) |
$ 100,000 | $ | 5,000 | |||||||
Insuring Agreement L (Telefacsimile Transfer Fraud) |
$ 3,000,000 | $ | 25,000 | |||||||
Insuring Agreement M (Unauthorized Signatures) | $ 100,000 | $ | 5,000 | |||||||
If Not Covered is inserted above opposite any specified Insuring Agreement or Coverage, such Insuring Agreement or Coverage and any other reference thereto in this bond shall be deemed to be deleted therefrom. |
| |||||||||
ITEM 4. | Offices or Premises Covered-Offices acquired or established subsequent to the effective date of this bond are covered according to the terms of General Agreement A. All the Insureds offices or premises in existence at the time this bond becomes effective are covered under this bond except the offices or premises located as follows: No Exceptions | |||||||||
ITEM 5. | The liability of the Underwriter is subject to the terms of the following riders attached thereto: Endorsement #1, #2, #3, #4, #5, #6, #7, #8, #9, #10, #11, #12 |
41205 (04/95)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
1
ITEM 6. | The Insured by the acceptance of this bond gives to the Underwriter terminating or canceling prior bond(s) or policy(ies) No.(s) 01-424-07-85 such termination or cancellation to be effective as of the time this bond becomes effective. |
PREMIUM: $7,000
SECRETARY | PRESIDENT | |||
AUTHORIZED REPRESENTATIVE | ||||
COUNTERSIGNATURE DATE | COUNTERSIGNED AT |
AON RISK SERVICES NORTHEAST INC.
199 WATER ST
NEW YORK, NY 10038-3526
41205 (04/95)
NOTICE:THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
2
National Union Fire Insurance Company of Pittsburgh, Pa.
A capital stock company
INVESTMENT COMPANY BLANKET BOND
The Underwriter, in consideration of an agreed premium, and subject to the Declarations made a part hereof, the General Agreements, Conditions and Limitations and other terms of this bond, agrees with the Insured, in accordance with the Insuring Agreements hereof to which an amount of insurance is applicable as set forth in Item 3 of the Declarations and with respect to loss sustained by the Insured at any time but discovered during the Bond Period, to indemnify and hold harmless the Insured for:
INSURING AGREEMENTS
41206 (09/84)
1
41206 (09/84)
2
41206 (09/84)
3
GENERAL AGREEMENTS
41206 (09/84)
4
THE FOREGOING INSURING AGREEMENTS AND
GENERAL AGREEMENTS ARE SUBJECT TO
THE FOLLOWING CONDITIONS
AND LIMITATIONS:
41206 (09/84)
5
41206 (09/84)
6
41206 (09/84)
7
41206 (09/84)
8
41206 (09/84)
9
41206 (09/84)
10
41206 (09/84)
11
41206 (09/84)
12
41206 (09/84)
13
41206 (09/84)
14
41206 (09/84)
15
RIDER #1
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
NEW YORK AMENDATORY ENDORSEMENT NY STATUTE 3420
Wherever used in this endorsement: 1) we, us, our and Insurer mean the insurance company which issued this policy; 2) you, your, Insured and first Named Insured mean the Named Corporation, Named Entity, Named Organization, Named Sponsor, Named Insured, or Insured stated in the declarations page; 3) other insured(s) means all other persons or entities afforded coverage under the policy; 4) Discovery Period means Discovery Period or Extended Reporting Period, as defined in the policy; and 5) Claim means Claim or Suit as defined in the policy.
It is hereby understood and agreed that the policy is amended as follows:
A. | The following provisions are hereby added to the policy: |
FAILURE TO GIVE NOTICE WITHIN PRESCRIBED TIME:
Failure to give any notice required to be given by this policy, or any policy of which this is a renewal, within the prescribed time shall not invalidate any Claim made against an Insured if:
(a) | it shall be shown not to have been reasonably possible to give notice within the prescribed time and that notice was given as soon as was reasonably possible thereafter; or |
(b) | the failure to provide timely notice has not prejudiced the Insurer. |
Any such Claim shall be deemed to have been first made against the Insured and noticed to the Insurer within the Policy Period or Discovery Period of the policy issued by the Insurer (the Noticed Policy) in which the Insurer received notice of the Claim; provided that the coverage afforded with respect to the Noticed Policy shall be in an amount not greater than the amount of coverage afforded with respect to the Policy Period of the policy issued by the Insurer (the Former Policy) in which the Claim was actually first made against the Insured. The foregoing sentence may result in (but not be limited to): (1) reducing the limit of liability available for such a Claim to the available limit of liability applicable to the Former Policy; (2) increasing the applicable retention amount to that retention amount applicable to the Former Policy; or (3) reducing
83231 (01/09)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #1 (Continued)
or eliminating coverage due to exclusions or other restrictions appearing in the Former Policy but eliminated, in part or in whole, in the Noticed Policy. No coverage shall be afforded under this endorsement if there was not in existence a Former Policy at the time the Claim was actually first made against the Insured.
With respect to subsection (b) above, any such Claim must be noticed during the Policy Period or Discovery Period of a Noticed Policy which is a renewal or extension of the Former Policy.
Nothing in this endorsement shall be construed to provide coverage for a Claim under more than one Policy Period or Discovery Period.
PREJUDICE:
In the event that the Insurer alleges that it was prejudiced as a result of a failure to give notice within the time required under the policy, the burden of proof shall be on:
(a) | the Insurer to prove that it has been prejudiced, if the notice was provided within two years of the time required under the policy; or |
(b) | the Insured to prove that the Insurer has not been prejudiced, if the notice was provided more than two years after the time required under the policy. |
The Insurers rights shall not be deemed prejudiced unless the failure to timely provide notice materially impairs the ability of the Insurer to investigate or defend the Claim.
Notwithstanding the above, an irrebuttable presumption of prejudice shall apply if, prior to the notice, the Insureds liability has been determined by a court of competent jurisdiction or by a binding arbitration; or if the Insured has resolved the Claim by settlement or other compromise.
NOTICE TO AGENT:
Notice given by or on behalf of the Insured, or written notice by or on behalf of the injured party or any other claimant, to any licensed agent of the Insurer in the state of New York, with particulars sufficient to identify the Insured, shall be deemed notice to the Insurer.
83231 (01/09)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #1 (Continued)
INSOLVENCY/BANKRUPTCY OF INSURED:
The insolvency or bankruptcy of the Insured shall not relieve the Insurer of its obligations under this policy as long as all policy requirements are met by Insured, its trustee or receiver in bankruptcy. Should a covered judgment be rendered against an insolvent or bankrupt Insured, the Insurer shall be liable for the amount of such judgment not to exceed the applicable limit of liability under this policy.
B. | The Clause entitled, Action Against Us or Action Against Company is deleted in its entirety and replaced with the following: |
No one may bring an action against us unless there has been full compliance with all the terms of this policy and the amount of the Insureds obligation to pay has been finally determined either by:
1. | judgment against the Insured which remains unsatisfied at the expiration of thirty (30) days from the service of notice of entry of the judgment upon the Insured and upon us; or |
2. | written agreement of the Insured, the claimant and us. |
Any person or organization or legal representative thereof who has secured such judgment or written agreement shall thereafter be entitled to recover under this policy to the extent of the insurance afforded by this policy. We may not be impleaded by the Insured or its legal representative in any legal action brought against the Insured by any person or organization.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS SHALL REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE |
83231 (01/09)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #2
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
NEW YORK AMENDATORY ENDORSEMENT
Wherever used in this endorsement: 1) Insurer means the insurance company which issued this policy; and 2) Insured means the Named Corporation, Named Organization, Named Sponsor, Named Insured, Named Entity or Insured stated in the declarations page; The policy is hereby amended as follows:
I. | The Cancellation and When We Do Not Renew provisions are deleted and replaced by the following: |
(a) | CANCELLATION BY THE INSURED |
This policy may be cancelled by the Insured by surrender of this policy to the Insurer or by giving written notice to the Insurer stating when thereafter such cancellation shall be effective. The Policy Period terminates at the date and hour specified in such notice, or at the date and time of surrender.
(b) | CANCELLATION, NONRENEWAL AND CONDITIONAL RENEWAL BY THE INSURER |
(i) | If this policy has been in effect for sixty (60) or fewer days when cancellation notice is mailed, and this policy is not a renewal of a policy issued by the Insurer, then this policy may be cancelled by the Insurer by mailing or delivering to the Insured, and to his authorized insurance agent or broker, written notice stating when not less than twenty (20) days thereafter (fifteen (15) days thereafter if cancellation is because of one of the reasons for cancellation set forth in subsection (ii) below) the cancellation shall be effective. Notice of cancellation issued by the Insurer shall specify the grounds for cancellation. |
(ii) | If this policy has been in effect for more than sixty (60) days when notice of cancellation is mailed, or if this policy is a renewal of a policy issued by the Insurer, then this policy may be cancelled by the Insurer by mailing or delivering to the Insured, and to his authorized insurance agent or broker, written notice stating when not less than fifteen (15) days thereafter the cancellation shall be effective; however, such cancellation must be based on one or more of the following: |
(A) | nonpayment of premium, provided, however, that a notice of cancellation on this ground shall inform the first Named Insured of the amount due; |
69898 (09/06)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #2 (Continued)
(B) | conviction of a crime arising out of acts increasing the hazard insured against; |
(C) | discovery of fraud or material misrepresentation in the obtaining of the policy or in the presentation of a claim thereunder; |
(D) | after issuance of the policy or after the last renewal date, discovery of an act or omission, or a violation of any policy condition, that substantially and materially increases the hazard insured against, and which occurred subsequent to inception of the current Policy Period; |
(E) | material change in the nature or extent of the risk, occurring after issuance or last annual renewal anniversary date of the policy, which causes the risk of loss to be substantially and materially increased beyond that contemplated at the time the policy was issued or last renewed; |
(F) | required pursuant to a determination by the New York Superintendent of Insurance that continuation of the present premium volume of the Insurer would jeopardize the Insurers solvency or be hazardous to the interests of Insureds of the Insurer, its creditors or the public; |
(G) | a determination by the New York Superintendent of Insurance that the continuation of the policy would violate, or would place the Insurer in violation of, any provision of the New York Insurance Law; |
(H) | revocation or suspension of an Insureds license to practice his profession; or |
(I) | where the Insurer has reason to believe that there is a probable risk or danger that the Insured will destroy or permit the destruction of the insured property for the purpose of collecting the insurance proceeds, provided, however, that: |
(1) | a notice of cancellation on this ground shall inform the Insured in plain language that the Insured must act within ten days if review by the department of the ground for cancellation is desired pursuant to item (3) of this subparagraph (I); |
69898 (09/06)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #2 (Continued)
(2) | notice of cancellation on this ground shall be provided simultaneously by the Insurer to the department; and |
(3) | upon written request of the Insured made to the department within ten days from the Insureds receipt of notice of cancellation on this ground, the department shall undertake a review of the ground for cancellation to determine whether or not the Insurer has satisfied the criteria for cancellation specified in this subparagraph; if after such review the department finds no sufficient cause for cancellation on this ground, the notice of cancellation on this ground shall be deemed null and void. |
Notice of cancellation by the Insurer shall specify the grounds for cancellation.
(iii) |
(A) | The Insurer shall mail to the Insured, and to his authorized insurance agent or broker, written notice indicating the Insurers intention: |
(1) | not to renew this policy; |
(2) | to condition its renewal upon change of limits, change in type of coverage, reduction of coverage, increased deductible or addition of exclusions or upon increased premiums in excess of ten percent; (exclusive of any premium increase generated as a result of increased exposure units or as a result of experience rating, loss rating, or audit); |
(3) | that the policy will not be renewed or will not be renewed upon the same terms, conditions or rates; such alternative renewal notice must be mailed or delivered on a timely basis and advise the Insured that a second notice shall be mailed at a later date indicating the Insurers intention as specified in subparagraph (1) or (2) of this paragraph (A) and that coverage shall continue on the same terms, conditions and rates as expiring, until the later of the expiration date or sixty (60) days after the second notice is mailed or delivered; such alternative renewal notice also shall advise the insured of the availability of loss information and, upon written request, the request, the insurer shall furnish such loss information within ten (10) days to the insured. |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #2 (Continued)
(B) | A nonrenewal notice as specified in subparagraph (1), a conditional renewal notice as specified in subparagraph (2), and the second notice described in subparagraph (3) of paragraph (A) of this subsection (iii) shall contain the specific reason or reasons for nonrenewal or conditional renewal, and set forth the amount of any premium increase and nature of any other proposed changes. |
(C) | The notice required by paragraph (A) of this subsection (iii) shall be mailed at least sixty (60) but not more than one hundred twenty (120) days in advance of the end of the Policy Period. |
(D) |
(1) | If the Insurer employs an alternative renewal notice as authorized by subparagraph (3) of paragraph (A) of this subsection (iii), the Insurer shall provide coverage on the same terms, conditions, and rates as the expiring policy, until the later of the expiration date or sixty (60) days after the mailing of the second notice described in such subparagraph. |
(2) | Prior to the expiration date of the policy, in the event that an incomplete or late conditional renewal notice or a late nonrenewal notice is provided by the Insurer, the Policy Period shall be extended, at the same terms and conditions as the expiring policy, except that the annual aggregate limit of the expiring policy shall be increased in proportion to the policy extension, and at the lower of the current rates or the prior periods rates, until sixty (60) days after such notice is mailed, unless the Insured elects to cancel sooner. |
(3) | In the event that a late conditional renewal notice or a late nonrenewal notice is provided by the insurer on or after the expiration date of the policy, coverage shall remain in effect on the same terms and conditions of the expiring policy for another required policy period, and at the lower of the current rates or the prior periods rates unless the insured during the additional required policy period has replaced the coverage or elects to cancel, in which event such cancellation shall be on a pro rata premium basis. |
69898 (09/06)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #2 (Continued)
(iv) | Nothing herein shall be construed to limit the grounds for which the Insurer may lawfully rescind this policy or decline to pay a claim under this policy. |
(v) | Notice required herein to be mailed to the Insured shall be mailed to the Insured at the address shown in Item 1 of the Declarations. |
Notice required herein to be mailed by the Insurer shall be sent by registered, certified or other first class mail. Delivery of written notice shall be equivalent to mailing.
Proof of mailing of such notice as aforesaid shall be sufficient proof of notice. The Policy Period shall terminate at the effective date and hour of cancellation or nonrenewal specified in such notice.
(vi) | If this policy shall be cancelled by the Insured, the Insurer shall retain the customary short rate proportion of the premium hereon. |
If this policy shall be cancelled by the Insurer, the Insurer shall retain the pro rata proportion of the premium hereon.
Payment or tender of any unearned premium by the Insurer shall not be a condition of cancellation, but such payment shall be made as soon as practicable.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE |
69898 (09/06)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #3
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
COMPUTER SYSTEMS
It is agreed that:
1. | The attached bond is amended by adding an additional insuring agreement as follows: |
COMPUTER SYSTEMS
Loss resulting directly from a fraudulent
(1) | entry of data into, or |
(2) | change of data or programs within |
a Computer System; provided the fraudulent entry or change causes
(a) | Property to be transferred, paid or delivered, |
(b) | an account of the Insured, or of its customer, to be added, deleted, debited or credited: |
(c) | an unauthorized account of a fictitious account to be debited or credited; |
(3) | voice instructions or advices having been transmitted to the Insured or its agent(s) by telephone; |
and provided further, the fraudulent entry or change is made or caused by an individual acting with the intent to:
(i) | cause the Insured or its agent(s) to sustain a loss, and |
(ii) | obtain financial benefit for that individual or for other persons intended by that individual to receive financial benefit, |
(iii) | and further provided such voice instruction or advices: |
(a) | were made by a person who purported to represent an individual authorized to make such voice instruction or advices; and |
(b) | were electronically recorded by the Insured or its agent(s). |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #3 (Continued)
(4) | It shall be a condition to recovery under the Computer Systems Rider that the Insured or its agent(s)shall to the best of their ability electronically record all voice instructions or advices received over telephone. The Insured or its agent(s) warrant that they shall make their best efforts to maintain the electronic recording system on a continuous basis. Nothing, however, in this Rider shall bar the Insured from recovery where no recording is available because of mechanical failure of the device used in making such recording, or because of failure of the media used to record conversation from any cause, or error or omission of any Employee(s) or agent(s) of the Insured. |
SCHEDULE OF SYSTEMS
All computer systems utilized by the Insured
2. | As used in this Rider, Computer System means: |
(a) | computers with related peripheral components, including storage components, wherever located, |
(b) | systems and application software, |
(c) | terminal devices, |
(d) | related communication networks or customer communication systems, and |
(e) | related Electronic Funds Transfer Systems, |
by which data are electronically collected, transmitted, processed, stored, and retrieved.
3. | In addition to the exclusions in the attached bond, the following exclusions are applicable to this Insuring Agreement: |
(a) | loss resulting directly or indirectly from the theft of confidential information, material or data; and |
(b) | loss resulting directly or indirectly from entries or changes made by an individual authorized to have access to a Computer System who acts in good faith on instructions, unless such instructions are given to that individual by a software contractor (or by a partner, officer or employee thereof) authorized by the Insured to design, develop, prepare, supply service, write or implement programs for the Insureds Computer System. |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #3 (Continued)
4. | The following portions of the attached bond are not applicable to this Rider: |
(a) | the initial paragraph of the bond preceding the Insuring Agreements which reads ...at any time but discovered during the Bond Period. |
(b) | Section 9-NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY |
(c) | Section 10-LIMIT OF LIABILITY |
5. | The Coverage afforded by this rider applies only to loss discovered by the Insured during the period this Rider is in force. |
6. | All loss or series of losses involving the fraudulent activity of one individual, or involving fraudulent activity in which one individual is implicated, whether or not that individual is specifically identified, shall be treated as one loss. A Series of losses involving unidentified individuals but arising from the same method of operation may be deemed by the Underwriter to involve the same individual and in that event shall be treated as one loss. |
8. | If any loss is covered under this Insuring Agreement and any other Insuring Agreement or Coverage, the maximum amount payable for such loss shall not exceed the largest amount available under any one Insuring Agreement or Coverage. |
9. | Coverage under this Rider shall terminate upon termination or cancellation of the bond to which this Rider is attached. Coverage under this rider may also be terminated or cancelled without cancelling the bond as an entirety: |
(a) | 60 days after receipt by the Insured of written notice from the Underwriter of its desire to terminate or cancel coverage under this Rider, or |
(b) | immediately upon receipt by the Underwriter of a written request from the Insured to terminate or cancel coverage under this Rider. |
The Underwriter shall refund to the Insured the unearned premium for this coverage under this Rider. The refund shall be computed at short rates if this Rider is terminated or cancelled or reduced by notice from, or at the instance of, the Insured.
10. | Section 4-LOSS-NOTICE-PROOF-LEGAL PROCEEDING of the Conditions and Limitations of this bond is amended by adding the following sentence: |
Proof of Loss resulting from Voice Instructions or advices covered under this bond shall include Electronic Recording of such Voice Instructions or advices.
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #3 (Continued)
11. | Not withstanding the foregoing, however, coverage afforded by this Rider is not designed to provide protection against loss covered under a separate Electronic and Computer Crime Policy by whatever title assigned or by whatever Underwriter written. Any loss which is covered under such separate Policy is excluded from coverage under this bond; and the Insured agrees to make claim for such loss under its separate Policy. |
AUTHORIZED REPRESENTATIVE |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #4
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of
Policy No. |
01-686-01-89 | |
Issued to: |
SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
UNAUTHORIZED SIGNATURES
It is agreed that:
(1) | The attached bond is amended by adding an additional Insuring Agreement as follows: |
UNAUTHORIZED SIGNATURES
(2) | Loss resulting directly from the insured having accepted, paid or cashed any check or withdrawal order, draft, made or drawn on a customers account which bears the signature or endorsement of one other than a person whose name and signature is on the application on file with the Insured as a signatory on such account. |
(3) | It shall be a condition precedent to the Insureds right of recovery under this rider that the Insured shall have on file signatures all persons who are authorized signatories on such account. |
(4) | The Limit of Liability for the coverage provided by this rider shall be One Hundred Thousand ($100,000) being understood, however, that such liability shall be part of and not in addition to the Limit of Liability stated in item 3. of the Declarations of the attached bond. |
(5) | The Underwriter shall not be liable under the Unauthorized Signatures Rider for any loss on account of any instrument unless the amount of such instrument shall be excess of Five Thousand (5,000) herein called Deductible Amount) and unless such loss on account of such instrument, after deducting all recoveries on account of such instrument made prior to the payment of such loss by the Underwriter, shall be in excess of such Deductible Amount and then for such excess only, but in no event more than the amount of the attached bond, or the amount of coverage under the Unauthorized Signatures Rider, if the amount of such coverage is less than the amount of the attached bond. |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #4 (Continued)
(6) | Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, limitations, conditions, or provisions of the attached bond other than as above stated. |
AUTHORIZED REPRESENTATIVE |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #5
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of
Policy No. |
01-686-01-89 | |
Issued to: |
SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
AUTOMATED PHONE SYSTEM
It is agreed that:
1. | The attached bond is amended by adding an additional Insuring Agreement as follows: |
AUTOMATED PHONE SYSTEM
I. | Loss caused by an Automated Phone System (APS) Transaction, where the request for such APS Transaction is unauthorized or fraudulent and is made with the manifest intent to deceive; provided, that the entity which receives such request generally maintains and follows during the bond Period all APS Designated Procedures with respect to APS Transactions. The Unintentional isolated failure of such entity to maintain and follow a particular APS Designated Procedure in a particular instance shall not preclude coverage under this Insuring Agreement, subject to the exclusions herein and in the Bond. |
1. | Definitions. The following terms used in this Insuring Agreement shall have the following meanings: |
a. | APS Transaction means any APS Redemption, APS Exchange or APS Election. |
b. | APS Redemption means any redemption of shares issued by an Investment Company which is requested over the telephone by means of information transmitted by an individual caller through use of a telephone keypad. |
c. | APS Election means any election concerning dividend options available to Fund Shareholders which is made over the telephone by means of information transmitted by an individual caller through use of a telephone keypad. |
d. | APS Exchange means any exchange of shares in a registered account of one Fund into shares in an identically registered account of another Fund in the same complex pursuant to exchange privileges of the two Funds, which exchange is requested over the telephone by means of information transmitted by an individual caller through use of a telephone keypad. |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #5 (Continued)
e. | APS Designated Procedures means all of the following procedures: |
(1) | Election in Application: No APS Redemption shall be executed unless the shareholder to whose account such an APS Redemption relates has previously elected by Official Designation to permit such APS Redemption. |
(2) | Logging: All APS Transaction requests shall be logged or otherwise recorded, so as to preserve all of the information transmitted by an individual caller through use of a telephone keypad in the course of such a request, and the records shall be retained for at least six months. |
(a) | Information contained in the records shall be capable of being retrieved through the following methods: |
audio tape and or transactions stored on computer disks
(b) | Information contained in the records shall be capable of being retrieved and produced within a reasonable time after retrieval of specific information is requested, at a success rate of no less than 85 percent. |
(3) | Identity Test: The identity of the caller in any request for an APS Transaction shall be tested before execution of that APS Transaction by requiring the entry by the caller of a confidential personal identification number (PIN) |
(a) | Limited Attempts to Enter PIN: If the caller fails to enter a correct PIN within three attempts, the caller must not be allowed additional attempts during the same (telephone call/twenty-four hour day) to enter the PIN |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #5 (Continued)
(4) | Written Confirmation: A written confirmation of any APS Transaction shall be mailed to the shareholder(s) to whose account such APS Transaction relates, at the original record address, by the end of the Insureds next regular processing cycle, but in no event later than five business days following such APS Transaction. |
(5) | Access to APS Equipment: Access to the equipment which permits the entity receiving the APS Transaction request to process and effect the transaction shall be limited in the following manner: |
2. | Exclusions. It is further understood and agreed that this extension shall not cover: |
a. | Any loss covered under Insuring Agreement A. Fidelity, of this Bond; |
b. | Any loss resulting from: |
(1) | The redemption of shares, where the proceeds of such redemption are made payable to other than |
(i) | the shareholder of record, or |
(ii) | a person officially Designated to receive redemption proceeds, or |
(iii) | a bank account officially Designated to receive redemption proceeds, or |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #5 (Continued)
(2) | The redemption of shares, where the proceeds of such redemption are paid by check mailed to any address, unless such address has either been |
(i) | designated by voice over the telephone or in writing without a signature guarantee, in either case at least thirty (30) days prior to such redemption, or |
(ii) | officially Designated, or |
(iii) | verified by any other procedures which may be stated below in this Rider, or |
(3) | The redemption of shares, where the proceeds of such redemption are paid by wire transfer to other than the shareholders officially Designated bank account, or |
(4) | the Intentional failure to adhere to one or more APS Designated Procedures. |
2. | Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, limitations, conditions or provisions of the attached bond other than above stated. |
AUTHORIZED REPRESENTATIVE |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #6
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of
Policy No. |
01-686-01-89 | |
Issued to: |
SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
VIT
It is agreed that:
1. | The attached bond is amended by adding an additional Insuring Agreement as follows: |
Voice Initiated Funds Transfers
Loss resulting directly from the Insured having, in good faith, transferred funds from a Customers account through an electronic funds transfer system covered in the Computer Systems Insuring Agreement attached to this bond, in reliance upon a Voice Initiated Funds Transfer Instruction which was purported to be from an officer, director, partner or employee of a Customer of the Insured who was authorized and appointed by such Customer to instruct the Insured by means of voice message transmitted by telephone to make certain funds transfers, and which instruction
1. | was in fact, from an impostor, or a person not authorized by the Customer to issue such instructions by voice message transmitted by telephone, and which |
2. | was received by an Employee of the Insured specifically designated to receive and act upon such instructions; but provided that |
a. | such voice instruction was electronically recorded by the Insured and proper password(s) or code words(s) given; and |
b. | if the transfer was in excess of $10,000 the voice instruction was verified by a direct call back to an employee or the Customer (or a person thought by the Insured to be an employee of the Customer) |
2. | As used in this Insuring Agreement, Customer means an entity or individual which has a written agreement with the Insured for Customer Voice Initiated Electronic Funds Transfer and has provided the Insured with the names of its officer, directors, partners or employees authorized to initiate such Transfers. |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #6 (Continued)
3. | The limit of Liability for the coverage provided by this rider shall be $3,00,000 (Three Million Dollars) being understood, however, that such liability shall be part of and not in addition to the limit of liability stated in Item 3 of the Declaration of the attached bond. The Underwriter shall be liable hereunder for the amount by which a Single Loss exceeds the Deductible Amount of $25,000 (Twenty Five Thousand Dollars) not in excess of the Limit of Liability stated above. |
4. | The following is added as part (g) Section 5: |
(g) | Proof of loss for claim under the Voice Initiated Electronic Funds Transfer Insuring Agreement must include electronic recordings of such voice instructions and the verification call back, if such call was required. |
AUTHORIZED REPRESENTATIVE |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #7
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of
Policy No. |
01-686-01-89 | |
Issued to: |
SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
AMENDED DEFINITION OF EMPLOYEE
It is agreed that:
1. | SECTION 1. DEFINITIONS (a) Employee (9), paragraph (2) is hereby amended to read as follows: |
For an Investment Company named as Insured while performing acts coming within the scope of the usual duties of an Officer or Employee of any Investment Company named as Insured herein, or while acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to property of any such Investment Company, provided that only employees or partners of a transfer agent, shareholder, accounting recordkeeper or administrator which is an affiliated person as defined in the Investment Company Act of 1940, of an Investment Company named as Insured or is an affiliated person of the advisor, underwriter or administrator of such Investment Company, shall be included within the definition of Employee.
2. | SECTION 1. DEFINITIONS, (a) Employee is also hereby amended to include Signature Broker-Dealer Services to the extent they provide services to those named as Insureds herein. These services are to include and are limited to that of a Subadministrator and/or Distributor/Placement. |
3. | This rider is effective as of the time the attached bond is effective. |
4. | Nothing contained here shall be held to vary, alter, waive or extend any of the terms, limitations, conditions, or agreements of the attached bond other than as above stated. |
AUTHORIZED REPRESENTATIVE |
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #8
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
TELEFACSIMILE TRANSFER FRAUD
It is agreed that:
1. | The attached bond is amended by adding an additional Insuring Agreement as follows: |
Loss resulting by reason of the Insured having transferred, paid or delivered any funds or Property, established any credit, debited any account, or given any value relying on any fraudulent instructions sent by a customer or financial institution by Telefacsimile Transmission directed to the Insured, authorizing or acknowledging the transfer, payment, or delivery of funds or property, the establishment of a credit, debiting of any account, or the giving of value by the Insured, but only if such telefacsimile instructions:
i) | bear a valid test key exchanged between the Insured and a customer or another financial institution with authority to use such test key for Telefacsimile instructions in the ordinary course of business, but which test key has been wrongfully obtained by a person who was not authorized to initiate, make, validate or authenticate a test key arrangement; and |
ii) | fraudulently purport to have been sent by such customer or financial institution, but which telefacsimile instruction were transmitted without the knowledge or consent of such customer or financial institution by a person other than such customer or financial institution and which bear a forged signature. |
Telefacsimile means a system of transmitting written documents by electronic signals over telephone lines to equipment maintained by the Insured within its communication room for the purposes of reproducing a copy of said document. It does not mean electronic communication sent by Telex, TWC, or electronic mail, or Automated Clearing House.
2. | The limit of Liability for the coverage provided by this rider shall be THREE Million Hundred Dollars ($3,000,000), it being understood, however, that such liability shall be part of and not in addition to the limit of liability stated in Item 3 of the Declaration of the attached bond. |
SR6195 (12/93)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #8 (Continued)
3. | The Underwriter shall be liable hereunder for the amount by which a Single Loss exceeds the Deductible Amount of Ten Thousand of Liability stated above. |
4. | Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations conditions or agreements of the attached bond other than as above stated. |
AUTHORIZED REPRESENTATIVE |
SR6195 (12/93)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #9
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
OMNIBUS WORDING
It is agreed that:
1. | If the Insured shall, while this bond is in force, establish any new funds other than by consolidation or merger with, purchase or acquisition of assets or liabilities of, another institution, such funds shall automatically be covered hereunder from the date of such establishment without the payment of additional premium for the remainder of the premium period. |
2. | If the Insured shall, while this bond is in force, require an increase in limits to comply with SEC Reg. 17g-1, due to an increase in asset size of current funds insured under the bond or by the addition of new funds, the Insured shall notify the Underwriter of such required increase in limits within 30 days of such increase in asset size and the Insured shall be entitled to receive from the Underwriter within 15 days of the Underwriters receipt of such notice an offer for coverage hereunder for such increase in limits from the date of such increase in assets. Such coverage for increase in asset size shall be conditioned upon the Insured paying the Underwriter the required additional premium for such increase in limits, which additional premium shall be in amount determined in the sole and absolute discretion of the Underwriter. |
3. | Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations conditions or agreements of the attached bond other than as above stated. |
AUTHORIZED REPRESENTATIVE |
103011 (10/09)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #10
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
COVERAGE TERRITORY ENDORSEMENT
THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.
Payment of loss under this policy shall only be made in full compliance with all United States of America economic or trade sanction laws or regulations, including, but not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Departments Office of Foreign Assets Control (OFAC).
AUTHORIZED REPRESENTATIVE |
89644 (07/05)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #11
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
NOTICE OF CLAIM
(REPORTING BY E-MAIL)
In consideration of the premium charged, it is hereby understood and agreed as follows:
1. | Email Reporting of Claims : In addition to the postal address set forth for any Notice of Claim Reporting under this policy, such notice may also be given in writing pursuant to the policys other terms and conditions to the Insurer by email at the following email address: |
c-claim@chartisinsurance.com
Your email must reference the policy number for this policy. The date of the Insurers receipt of the emailed notice shall constitute the date of notice.
In addition to Notice of Claim Reporting via email, notice may also be given to the Insurer by mailing such notice to: c-Claim for Financial Lines, Chartis, Financial Lines Claims, 175 Water Street, 9th Floor, New York, New York 10038 or faxing such notice to (866) 227-1750.
2. | Definitions : For this endorsement only, the following definitions shall apply: |
(a) | Insurer means the Insurer, Underwriter or Company or other name specifically ascribed in this policy as the insurance company or underwriter for this policy. |
(b) | Notice of Claim Reporting means notice of claim/circumstance, notice of loss or other reference in the policy designated for reporting of claims, loss or occurrences or situations that may give rise or result in loss under this policy. |
(c) | Policy means the policy, bond or other insurance product to which this endorsement is attached. |
99758 (08/08)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
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RIDER #11 (Continued)
3. | This endorsement does not apply to any Kidnap & Ransom/Extortion Coverage |
Section, if any, provided by this policy.
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE |
99758 (08/08)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057
RIDER #12
This endorsement, effective 12:01 A.M. March 31, 2012 forms a part of | ||
Policy No. | 01-686-01-89 | |
Issued to: | SOLAR CAPITAL, LTD |
By | National Union Fire Insurance Company of Pittsburgh, PA. |
FORMS INDEX ENDORSEMENT
The contents of the Policy is comprised of the following forms:
FORM NUMBER |
EDITION DATE |
FORM TITLE | ||
41025 | 04/95 | INVESTMENT COMPANY BLANKET BOND DEC PAGE | ||
41206 | 9/84 | INVESTMENT COMPANY BLANKET BOND GUTS | ||
83231 | 01/09 | NEW YORK LAW 3420 AMENDATORY ENDORSEMENT | ||
69898 | 09/06 | NEW YORK AMENDATORY | ||
MNSCPT | COMPUTER SYSTEMS | |||
MNSCPT | UNAUTHORIZED SIGNATURES | |||
MNSCPT | AUTOMATED PHONE SYSTEMS | |||
MNSCPT | VIT | |||
MNSCPT | AMENDED DEFINITION OF EMPLOYEE | |||
SR6195 | 12/93 | TELEFACSIMILE TRANSFER FRAUD | ||
103011 | 10/09 | OMNIBUS WORDING | ||
89644 | 07/05 | COVERAGE TERRITORY ENDORSEMENT (OFAC) | ||
99758 | 08/08 | NOTICE OF CLAIM (REPORTING BY E-MAIL) | ||
MNSCPT | FORMS INDEX ENDORSEMENT |
ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.
AUTHORIZED REPRESENTATIVE |
78859 (10/01)
NOTICE: THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE LAW AND REGULATIONS. HOWEVER, THE FORMS AND RATES MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS
2-14057