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1.
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Exclusions Applicable to All Insuring Agreements
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The Insuring Agreements do not apply to
Loss
:
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a.
|
resulting directly or indirectly from loss of trade secrets, confidential processing methods, customer lists, or other confidential or
proprietary Information;
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b.
|
resulting from transactions in customers accounts, whether authorized or unauthorized, except for the unlawful withdrawal and conversion of
Money
, securities or precious metals directly from a customers account by an
Employee
provided such withdrawal and conversion is covered under Insuring Agreement 1;
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c.
|
to one or more
ABC Corp. Insureds
which benefits another
ABC Corp. Insureds
;
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d.
|
caused by a customer after discovery by a director, officer or partner of any
ABC Corp. Insured
of an actual or potential
Loss
covered hereunder caused by that customer;
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e.
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resulting directly or indirectly from:
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(1)
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riot or civil commotion outside any country in which
ABC Corp. Insureds
have an office which is permanently staffed by an
Employee
, or loss due to war or insurrection, except for loss of Property in transit, if when such transit was initiated, there was no knowledge of such riot, civil commotion, war or insurrection on the part of
ABC Corp. Insureds
in initiating such transit;
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SEI
INVESTMENTS COMPANY BOND
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(2)
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the effect of nuclear fission or fusion or radioactivity; provided, however, that this paragraph shall not apply to loss resulting from industrial uses of nuclear energy;
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(3)
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any event with respect to which notice has been given prior to the effective date of this Coverage Part under any policy or bond providing the same or similar coverage to that afforded under this Coverage Part, whether or not the event is covered by that other policy or bond;
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(4)
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any event which is not reported in the form and substance provided in Section VII ATTACHMENT/NOTICE;
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f.
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which could have been recovered, but was not recovered, due to the failure of
ABC Corp. Insureds
to pursue reasonable efforts to make recovery from persons responsible for causing it;
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g.
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which amounts to penalties or fines, or any damages or settlements which do not meet the definition of
Loss
.
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2.
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Exclusions Applicable to Insuring Agreement 1 Only
|
Insuring Agreement 1 does not apply to
Loss
resulting directly or indirectly from acts of any
Employee
which are committed at any time after any director or officer of
ABC Corp
, not in collusion with the
Employee
, learns of any dishonest or fraudulent act committed by the
Employee
, whether in the employment of
ABC Corp.
or otherwise, and whether or not the type covered under this Insuring Agreement, unless the acts occurred prior to the employment by
ABC Corp. Insured
and involved property valued at less than $10,000;
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3.
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Exclusions Applicable to Insuring Agreement 2 Only
|
Insuring Agreement 2 does not apply to
Loss
:
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a.
|
of
Property
lost while in customers' safe deposit boxes;
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b.
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of
Property
surrendered away from an office or premises of
ABC Corp Insureds
as a result of a threat:
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(1)
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to do bodily harm to any person, except loss of
Property
in transit in the custody of any person acting as messenger provided that when such transit was initiated there was no knowledge by
ABC Corp. Insureds
of any such threat; or
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(2)
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to do damage to the offices, premises or property of
ABC Corp. Insureds
.
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c.
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of
Property
lost while in the mail;
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d.
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of
Electronic Data Processing Media
or
Electronic Data
lost in transit other than by armored motor vehicle; or
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e.
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of personal property not specifically enumerated in the definition of
Property
, for which an
ABC Corp. Insured
is legally liable if an
ABC Corp Insured
has any other insurance, regardless of amount, under which the property is covered; and in all events after 60 days from the date an
ABC Corp. Insured
became legally liable for the property; or
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f.
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resulting directly or indirectly from:
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(1)
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theft or any other dishonest or fraudulent act committed by an
Employee
;
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(2)
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any forgery, alteration or counterfeiting;
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(3)
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erroneous credits to a depositor's account, unless payment or withdrawal is physically received by the depositor or representative of the depositor who is within the office of an
ABC Corp. Insured
at the time of the payment or withdrawal;
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(4)
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items of deposit which are not finally paid or for which provisional credit is otherwise properly revoked for any reason, including but not limited to forgery or any other fraud;
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(5)
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Electronic Communications
or telephonic communications; or
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SEI
INVESTMENTS COMPANY BOND
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(6)
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any transaction which is or purports to be: (i) a loan or other extension of credit to or from
ABC Corp. Insureds
, including the acquisition of false or genuine accounts, invoices, notes or agreements; or (ii) trading, with or without knowledge of
ABC Corp. Insureds
and whether or not involving fictitious accounts;
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(7)
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the use or purported use of credit, debit, charge, access, convenience, or identification cards.
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4.
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Exclusions Applicable to Insuring Agreement 3 Only
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Insuring Agreement 3 does not apply to
Loss
resulting directly or indirectly from:
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a.
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theft or any other dishonest or fraudulent act committed by an
Employee
;
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b.
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the insolvency of another financial or depository institution;
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c.
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any document which is presented as a copy;
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d.
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items of deposit which are not finally paid, or for which provisional credit is otherwise properly revoked, for any reason, including, but not limited to forgery or any other fraud; or
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e.
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a fraudulent entry of data into, or change, modification, or destruction of data elements or programs within a
Computer System
operated or used by an
ABC Corp. Insured
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5.
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Exclusions Applicable to Insuring Agreement 4 Only
|
Insuring Agreement.4 does not apply to
Loss
resulting directly or indirectly from:
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a.
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theft or any other dishonest or fraudulent act committed by an
Employee
;
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b.
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insolvency of another financial institution;
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c.
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liability assumed by an
ABC Corp. Insured
under any contract unless such liability would have attached to such
ABC Corp. Insured
in the absence of such agreement;
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d.
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a threat to do bodily harm to any person, or to do damage to the premises or property of an
ABC Corp. Insured
;
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e.
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forged, altered, counterfeit or otherwise fraudulent
Financial Documents
used as source documentation in the preparation of
Electronic Data
or manually keyed in a
Communication Terminal
;
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f.
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Financial Documents
except as converted to
Electronic Data
and then only in such converted form;
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g.
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the accessing of any confidential information, including but not limited to trade secret information, computer programs or customer information;
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h.
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mechanical failure, faulty construction, error in design, latent defect, wear or tear, gradual deterioration, electrical disturbance,
Electronic Data Processing Media
failure or breakdown, any malfunction or error in programming, or errors or omissions in processing;
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i.
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the input of
Electronic Data
at an authorized terminal of an electronic funds transfer system or a customer communication system by a customer or other person who had authorized access to the customer's authentication mechanism; or
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j.
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fraudulent features contained in
Electronic Computer Instructions
developed for sale to, or that are sold to, multiple customers at the time of their acquisition from a vendor or consultant.
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SEI
INVESTMENTS COMPANY BOND
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k.
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The use or attempted use of credit, debit, charge, access, convenience or identification cards.
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6.
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Exclusions Applicable to Insuring Agreement 6. Only
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Insuring Agreement 6 does not apply to
Loss
resulting directly or indirectly from:
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a.
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theft of any other dishonest or fraudulent act committed by an
Employee
; or
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b.
|
the insolvency of another financial or depository institution
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c.
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the use or purported use of credit, debit, charge, access, convenience or identification cards.
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The amount set forth in Item 5 of the Declarations as the Limit of Liability for each Insuring Agreement is the maximum amount the Insurer will pay for each
Single Loss
under such Insuring Agreement. Where a loss involves more than one Insuring Agreement, the Agreement with the highest limit shall be the only applicable coverage.
The Insurer is liable to pay only that amount of a covered
Single Loss
in excess of the applicable Retention, if any, up to the applicable Limit of Liability. The Retention shall be uninsured. In the event more than one Retention applies to a
Single Loss
, the maximum total Retention amount applicable to such
Single Loss
shall be the highest of such applicable Retentions.
The Insurer shall pay
Loss
as incurred by the
ABC Corp. Insureds
, without consideration of other future payment obligations.
If, during an
Annual Period,
an
ABC Corp Insured
requires an increase in limits to comply with SEC Regulation 17g-1 due to an increase in asset size, whether by growth of current funds insured or by the acquisition of other funds, that increase in limits shall take place automatically provided that the total combined limit of liability for all
ABC Corp Insureds
under this policy does not exceed $25,000,000 after taking into consideration the increase in limits needed due to the increase in asset size. If the increase in limits needed as a result of the increase in assets will cause the combined limits for all
ABC Corp Insureds
to exceed $25,000,000, then the increase will not occur unless written consent of the Insurer is obtained.
Within 15 days of the end of each
Annual Period, ABC Corp.
shall, for each ABC
Corp. Insured
, advise the Insurer, in writing, of its current asset size as of the conclusion of that
Annual Period
and shall pay to the Insurer any additional premium required by it for any newly created investment companies or any increase in limits due to increases in the asset size of ABC
Corp. Insureds
.
The
ABC Corp. Insureds
shall not admit liability, consent to any judgment, agree to any settlement or make any settlement offer without the Insurer's prior written consent, such consent not to be unreasonably withheld. The Insurer shall not be liable for any
Loss
incurred by an
ABC Corp. Insured
to the extent the
Loss
results from an
ABC Corp. Insured
admitting liability, consenting to any judgment, agreeing to any settlement or making any settlement offer without the Insurer's prior written consent. The
ABC Corp. Insureds
agree that they shall not knowingly take any action which increases the Insurer's exposure for
Loss
under this Policy.
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SEI
INVESTMENTS COMPANY BOND
|
The
ABC Corp. Insureds
and not the Insurer have the duty to defend claims against
ABC Corp. Insureds
. The Insurer has the right, but not the duty, to associate itself in the defense and settlement of any claim.
If a
claim against
ABC Corp. Insureds
covered under the Policy includes both covered and uncovered matters, against
ABC Corp. Insureds
who are extended coverage therefor and others who are not extended coverage therefor, the
ABC Corp. Insureds
agree that there must be an allocation between insured and uninsured loss. The
ABC Corp. Insureds
and the Insurer shall exert their best efforts to agree upon a fair and proper allocation between insured and uninsured loss.
Subject to the provisions of Section XII, CHANGE OF STATUS OF INSUREDS, this Policy applies to events first discovered during the
Policy Period
.
Discovery of an event occurs on the earliest of the dates when any Vice President or above of an
ABC Corp. Insured
, not in collusion with a wrongdoer, first becomes aware of facts which would cause a reasonable person to assume that: (1) fraudulent or dishonest conduct has been committed by any person, whether an
Employee
or otherwise, and a loss to an
ABC Corp. Insured
is likely to occur as a result; (2) there has been a loss of
Property
owned or held by an
ABC Corp. Insured
, or for which it is claimed to be legally liable, or (3) conduct of a kind described in any of the Insuring Agreements of this policy has occurred, even though the fact or amount of loss resulting from that conduct may not then be known.
If during the
Policy Period
discovery of an event occurs, then the
ABC Corp. Insureds
must, as soon as practicable and in no event later than 60 days after the end of the
Policy Period
, if applicable, provide written notice to the Insurer containing at a minimum:
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a.
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the date and circumstances surrounding the first awareness the
ABC Corp. Insured
had of the
Loss
;
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b.
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sufficient detail to provide a reasonable basis for believing that any
Loss
may be covered under an Insuring Agreement;
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c.
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the amount of actual
Loss
known and an estimate of the total amount of
Loss
expected to result; and
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d.
|
a description of all known resources from which set off or subsequent recovery to reduce the
Loss
may be had.
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From and after the time notice is given as set forth above, the Insurer and each
ABC Corp. Insured
shall cooperate in all matters concerning investigation and adjustment of any
Loss
out of which the notice arose. As a condition precedent to recovery under this Policy, and subject to the other terms and conditions of this Policy,
ABC Corp
. must establish by a preponderence of the evidence that a covered event occurred and that
Loss
in excess of the retention resulted directly from that covered event, but it is not required to provide that evidence in any particular form of proof of loss.
ABC Corp. Insureds
shall give written notice to the Insurer under this Policy as specified in Item 4 of the Declarations, which shall be effective upon receipt.
The
ABC Corp. Insureds
shall furnish the Insurer with copies of reports, investigations, pleadings, and all related papers, and such other information, assistance and cooperation as the Insurer may reasonably request.
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SEI
INVESTMENTS COMPANY BOND
|
The Policy may not be terminated or cancelled unless written notice shall have been given by the acting party to the affected party and to the Securities and Exchange Commission in Washington, D.C. and to each
ABC Corp Insured
, not less than ninety (90) days prior to the effective date of cancellation or termination.
|
VIII.
|
NOTICES TO THE NAMED COMPANY
|
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Any notices required under Section
VI. CANCELLATION
shall be provided to
ABC Corp.
at its last known address and to its insurance agent or broker. The mailing by certified mail of such notice shall be sufficient.
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If any
Loss
resulting from any claim is insured under any other policies, this Policy shall apply only to the extent the
Loss
exceeds the amount paid under such other insurance whether such other insurance is stated to be primary, contributory, excess, contingent or otherwise, unless such other insurance is written only as specific excess insurance over this Policy.
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1.
|
The
ABC Corp. Insureds
represent and acknowledge that the statements contained in the
Application
and any materials submitted or required to be submitted therewith (all of which shall be maintained on file by the Insurer and be deemed attached to and incorporated into this Policy as if physically attached), are true and: (i) are the basis of this Policy and are to be considered as incorporated into and constituting a part of this Policy; and (ii) shall be deemed material to the acceptance of this risk or the hazard assumed by the Insurer under this Policy. This Policy is issued in reliance upon the truth of such representations.
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2.
|
In the event the
Application
, including materials submitted or required to be submitted therewith, contains any willful misrepresentation or omission:
|
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a.
|
made with the intent to deceive, or
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b.
|
which materially affects either the acceptance of the risk or the hazard assumed by the Insurer under the Policy;
|
this Policy shall be void as to each
ABC Corp. Insured
, if an officer or director was aware of the misrepresentation or omission and took no action to correct it.
|
XI.
|
COVERAGE FOR NEW INVESTMENT FUNDS
|
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1.
|
If, after the effective date of this Policy, an
ABC Corp. Insured
creates or acquires any new
Investment Fund
, then such fund shall be covered under this Policy, subject to its terms and conditions, only if:
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a.
|
the fair value of all cash, securities, assumed indebtedness and other consideration paid by the
ABC Corp Insured
does not exceed 10% of the total consolidated assets of all
ABC Corp Insureds.
as of the date of
ABC Corp.'s
most recent audited consolidated financial statement prior to such transaction; and
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b.
|
the total combined limit of liability for all
ABC Corp Insureds
, as required by SEC Regulation 17g-1, including the newly acquired or created fund, does not exceed $50,000,000;or
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c.
|
other than as described in paragraphs a-b immediately above, the Insurer, at its sole option upon submission of such information as the Insurer may require, and payment of any additional premium and/or amendment of the provisions of the Policy, agrees to provide coverage for such funds.
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2.
|
There is no coverage under this policy for any event discovered prior to the effective date of such creation, merger or acquisition, either by an
ABC Corp. Insured,
or by the created, acquired or merged entity.
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SEI
INVESTMENTS COMPANY BOND
|
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XII.
|
CHANGE OF STATUS OF INSUREDS
|
In the event of a
Takeover
of
ABC Corp
, coverage shall continue until this Policy is otherwise terminated, but only with respect to
Loss
sustained before the effective date of the
Takeover
, unless (i) the Insurer is notified in writing of the
Takeover
prior to the
Takeover
effective date and agrees in writing to provide coverage for
Loss
sustained, on or after such effective date, and (ii)
ABC Corp.
accepts any special terms, conditions, exclusions or additional premium charge required by the Insurer. However, if the
Takeover
arises in circumstances described in Section II.
DEFINITIONS
, subsection 36.d in the definition of
Takeover
, there is no coverage for any event reported after the date of
Takeover
.
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2.
|
Cessation of Individual Insured Status
|
If any
ABC Corp. Insured
ceases to be subject to management by
ABC Corp,
there shall be no coverage for
Loss
sustained by such
ABC Corp. Insured
after the date it ceased to be subject to management by ABC Corp.
In order to determine the obligation of the Insurer to make in kind replacement and to determine whether the subject loss
exceeds
the Retention or the Scheduled Limit of Liability,
Property
which has a market value shall be valued as of the date of discovery of the insured event by an
ABC Corp Insured
. At the date of settlement, the Insurer will replace or pay according to the following provisions.
Any loss of
Money
or loss payable in
Money
, which at the time of discovery of the insured event by an
ABC Corp Insured
exceeds the Retention but is within the applicable Scheduled
Limit of Liability, shall be paid in United States dollars unless the loss was sustained in another country. In that case, at the option of
ABC Corp.
the loss will be paid in the
Money
of the country in which the loss was sustained or in the United States dollar equivalent thereof. If the United States dollar equivalent on the date of settlement exceeds the applicable Scheduled Limit of Liability,
the Insurer
shall nevertheless pay the United States dollar equivalent up to the amount which replaces the loss as measured in money of the country in which the loss was sustained as valued on the date of discovery by an
ABC Corp. Insured
of the
event.
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3.
|
Other
Financial Documents
|
In the event of a loss of
Financial Documents
other than
Money
, the value which at the date of discovery exceeds the Retention but is within the applicable Scheduled Limit of Liability, the Insurer at its option, shall settle its liability under this Policy in kind or shall pay to
ABC Corp. Insureds
the fair market value of the
Financial Documents
valued at the date of settlement. If the Insurer replaces
Financial Documents
or pays the fair market value thereof, it shall replace or pay for all such
Financial
Documents
up to the amount which, as of the date of discovery of the insured event by an
ABC Corp Insured
, had a market value within the applicable Scheduled Limit of Liability even though the market value at the date of settlement exceeds the applicable Scheduled Limit of Liability.
In case of loss of subscription, conversion or redemption privileges through the loss of
Financial Documents
, the amount of
Loss
shall be the value of such privileges immediately preceding the expiration thereof.
If
Financial Documents
have no quoted market value, or if privileges have no quoted market value, their value shall be determined by agreement or arbitration.
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SEI
INVESTMENTS COMPANY BOND
|
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4.
|
Books of Account and Other Records
|
In case of loss of, or damage to, any books of account or other records, the Insurer shall be liable only if such books or records are actually reproduced and then for not more than the cost of the blank books, blank pages, or other materials plus the cost of labor for the actual transcription or copying of data furnished by an
ABC Corp. Insured
in order to reproduce such books and other records.
In case of loss of
Electronic Data
, Insurer shall pay only if such data is actually reproduced by other
Electronic Data
of the same kind or quality and then for not more than the cost of labor for the actual transcription or copying of data which shall have been furnished by an
ABC Corp Insured
in order to reproduce such
Electronic Data
.
If
Electronic Data
cannot be reproduced and represents securities, or financial instruments having a value, then the loss will be valued as indicated in the Other
Financial Documents
paragraphs of this Section.
In case of loss of, or damage to,
Electronic Data Processing Media
, Insurer shall pay only if such items are actually reproduced by other
Electronic Data Processing Media
of the same kind or quality and then for not more than the cost of the blank media plus the cost of labor for the actual transcription or copying of data which shall have been furnished by the Insured in order to reproduce such
Electronic Data Processing Media
. In the event that such data must be reconstructed by an
ABC Corp. Insured
for the purpose of reproduction, the actual reasonable cost of reconstruction of data (which shall not be deemed to include applications, programs or other software owned by
ABC Corp. Insureds
)
shall also be included.
In case of loss or damage to
Property
not identified above, the Insurer shall, at its option, pay the actual value of
Property
, as determined on the date of discovery, or replace or repair such
Property
. In either event the Aggregate Limit Liability shall be reduced by the actual payment made by the Insurer. Any disagreement between the Insurer and
ABC Corp.
as to the cash value or as to the adequacy of repair or replacement shall be resolved by arbitration.
Loss
shall be reduced by:
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a.
|
any amount owed by any
ABC Corp. Insured
to any person who is legally liable for the
Loss
to the extent any
ABC Corp. Insured
has a right of set off to that amount; and
|
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b.
|
all money and property received by any
ABC Corp. Insured
from any source in connection with any matter from which a
Loss
has arisen, including payment of principal, interest, dividends, commissions and the like, whenever and however paid.
|
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XIV.
|
SUBROGATION AND RECOVERY
|
|
|
1.
|
To the extent it pays any
Loss
, the Insurer shall be subrogated to all the
ABC Corp. Insureds'
rights of recovery therefor. The
ABC Corp. Insureds
shall execute all papers necessary to secure such rights, including executing any documents necessary to enable the Insurer effectively to bring suit in their name, and shall take no action which impairs the Insurer's rights of subrogation or recovery.
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2.
|
If a
Single Loss
is in part insured and in part uninsured under this Policy or is in an amount in excess of the applicable Limit of Liability, the
ABC Corp. Insureds
and the Insurer shall attempt to agree upon an equitable allocation of any recoveries made, whether before or after payment of the
Loss
by the Insurer, from any person or source responsible for causing the
Loss
. Reasonable expenses incurred in making a recovery shall always have priority of payment from all such recoveries. If, after exerting their best efforts, the
ABC Corp. Insureds
and the Insurer are unable to agree upon such an allocation after taking into account due consideration for the respective parties' willingness to pay the expenses of making any recovery, the Insurer, if requested by the
ABC Corp. Insureds
, shall submit the dispute to binding arbitration. The rules of the American Arbitration Association shall apply except with respect to the selection of the arbitration panel, which shall consist of one arbitrator selected by the
ABC Corp. Insureds
, one arbitrator selected by the Insurer, and a third independent arbitrator selected by the first two arbitrators.
|
|
|
SEI
INVESTMENTS COMPANY BOND
|
|
|
3.
|
In no event shall the
ABC Corp. Insureds
be entitled to recoup from recoveries any amount to satisfy any Retention until after all amounts which the Insurer is required to pay or pays under any applicable Coverage Part are reimbursed to the Insurer.
|
|
|
4.
|
Any allocation of recoveries for purposes of this Section
XVI
shall not change any provisions dealing with calculation of
Loss
.
|
|
|
Notice to or knowledge possessed by any agent or other person acting on behalf of the Insurer shall not effect a waiver or a change in any part of this Policy or stop the Insurer from asserting any right under the provisions of this Policy, nor shall the provisions be waived or changed except by written endorsement issued to form a part of this Policy.
|
|
XVI.
|
COMPANY AUTHORIZATION
|
|
|
1.
|
The
ABC Corp. Insureds
agree that
ABC Corp.
will act on behalf of the
ABC Corp. Insureds
with respect to giving of all notice to the Insurer (except notices provided in Section
VII.
1 or 2), the receipt of notices from the Insurer, the payment of the premiums, the receipt of any return premiums that may become due under this Policy, and the agreement to and acceptance of endorsements.
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2.
|
Payment of
Loss
to
ABC Corp.
shall discharge the Insurer from all further obligations with respect to such
Loss,
regardless of which
ABC Corp. Insured
sustained the
Loss
.
|
|
XVII.
|
NO ACTION AGAINST INSURER
|
|
|
1.
|
No action shall be taken against the Insurer unless, as a condition precedent, there shall have been full compliance with all the provisions of this Policy.
|
|
|
2.
|
No person or organization shall have any right under this Policy to join the Insurer as a party to any claim against the
ABC Corp. Insureds
to determine the
ABC Corp. Insureds'
liability, nor shall the Insurer be impleaded by the
ABC Corp. Insureds
or their legal representatives in any such claim.
|
|
|
3.
|
Legal proceedings for the recovery of any
Loss
shall not be brought prior to the expiration of sixty (60) days after written notice of the event was received by the Insurer or more than twelve (12) months after the Insurer has advised
ABC Corp.
in writing that there is no coverage for the event.
|
|
XVIII.
|
ASSIGNMENT OF INTEREST
|
|
|
Assignment of interest under this Policy shall not bind the Insurer unless its consent is endorsed to this Policy.
|
|
|
Coverage shall apply worldwide.
|
The
ABC Corp. Insureds
agree that this Policy, including the
Application
and any materials submitted or required to be submitted therewith, and any written endorsement attached, constitute the entire contract existing between them and the Insurer or any of its agents relating to this insurance. No amendment shall be effective earlier than 60 days prior to the date on which the Insurer provides written notice of the amendment to
ABC Corp
. and the Securities and Exchange Commission in Washington, D.C
.
|
|
SEI
INVESTMENTS COMPANY BOND
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IN WITNESS WHEREOF, the Insurer has caused this Policy to be signed by its Chairman and Secretary at Chicago, Illinois, but the same shall not be binding upon the Insurer unless countersigned by a duly authorized representative of the Insurer.
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Secretary
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Chairman of the Board
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AMEND DEFINITION OF ABC CORP INSUREDS ENDORSEMENT
In consideration of the premium paid for this Policy, it is understood and agreed that Section II. DEFINITIONS, the Definition of
ABC Corp. Insureds
is deleted in its entirety and replaced as follows:
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2.
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ABC Corp. Insureds
means ABC Corp. and Investment Funds listed below as well as any new
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Investment Fund as applicable under Section XI. Coverage for New Investment Funds.
List of Investment Funds:
SEI Liquid Asset Trust
SEI Tax Exempt Trust
SEI Daily Income Trust
SEI Alpha Strategy Portfolios, LP
SEI Institutional International Trust
SEI Institutional Managed Trust
SEI Asset Allocation Trust
SEI Institutional Investments Trust
SEI Structured Credit Fund, L.P.
The Advisors' Inner Circle Fund
The Advisors' Inner Circle Fund II
Bishop Street Funds
CNI Charter Funds
Causeway Capital Management Trust
Adviser Managed Trust
New Covenant Funds
All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy, unless another effective date is shown below, and expires concurrently with said Policy.
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Policy No:
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169906855
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Page 1
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Endorsement No:
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1
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Insured Name: SEI Investments Management Corporation
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Effective Date:
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© CNA All Rights Reserved.
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The Underwriter shall be liable for the amount of Long Distance Charges incurred by the Insured as the direct result of Toll Fraud.
The Single Loss Limit of Liability for the Toll Fraud Insuring Agreement is limited to the amount shown on the Declarations, or amendment thereto. The Underwriter shall be liable hereunder for the amount by which the Single Loss exceeds the Deductible Amount in Item 4 of the Declarations, but not in excess of the Single Loss Limit of Liability stated above.
Coverage under this Insuring Agreement does not apply to:
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1.
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loss caused or contributed to by any fraudulent dishonest or criminal act committed by an Employee, director or trustee of the Insured or any other individual authorized by the Insured to use Telephone Systems, whether acting along or in collusion with others;
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2.
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loss sustained as a result of an extortion payment surrendered to any person as a result of a threat to do damage to the premises or a Telephone System owned by the Insured or for which the Insured is legally liable;
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3.
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loss caused by the fraudulent, unlawful or unauthorized use of a Calling Card;
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As used in this Insuring Agreement, Single Loss means any loss or losses resulting from one casualty or event, or related series of acts, regardless or the number of persons involved.
Special conditions applicable to claims under this Insuring Agreement notwithstanding Conditions and Limitations Section 7. Assignment-Subrogation-Recovery-Cooperation: Upon discovery by the Insured of loss or of an occurrence which may become a loss under this Insuring Agreement, written notice shall be given to the Underwriter at the earliest practicable moment, and in no event later than 60 days after the billing cut-off date shown in the first telephone service charge bill from the telephone carrier in which Toll Fraud is documented.
Upon discovery of Toll Fraud, the Insured shall take all reasonable steps to curtail the unauthorized use of the Telephone Systems (s) and otherwise mitigate the loss by notifying the installer (s) of the Telephone System (s) and the affected telephone carriers.
In addition to the definitions in the attached Bond, the following definitions are applicable to this Insuring Agreement.
Calling Card means a calling card access number of telephone credit card access number issued by a telecommunications company or telephone carrier which gives the calling card customer access to and use of telecommunications services.
Toll Fraud means the fraudulent infiltration and manipulation of the Insured's Telephone System from a remote location to gain access to outbound long distance telephone service.
Long Distance Charges means toll and line charges from which Insured is responsible and which are directly caused by Toll Fraud.
Telephone System (s) means PBX, cbx, Meriin, remote access (including disa), and all related peripheral equipment or similar systems owned or leased by the Insured for the purpose of voice based communication.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No signature is required if issued with the Policy or if it is effective on the Policy Effective Date)
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Policy No:
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169794798
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Page 1
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Endorsement No:
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2
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Effective Date:
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© CNA All Rights Reserved.
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1.
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The term "Underwriter" as used in the attached bond shall be construed to mean, unless othenwise specified in this rider, all the Companies executing the attached bond.
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2.
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Each of said Companies shall be liable only for such proportion of any Single Loss under the attached bond as the amount underwritten by such Company as specified in the Schedule forming a part hereof, bears to the Aggregate Limit of Liability of the attached bond, but in no event shall any of said Companies be liable for an amount greater than that underwritten by it.
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3.
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In the absence of a request from any of said Companies to pay premiums directly to it, premiums for the attached bond may be paid to the Controlling Company for the account of all of said Companies.
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4.
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In the absence of a request from any of said Companies that notice of claim and proof of loss be given to or filed directly with it, the giving of such notice to and the filing of such proof with, the Controlling Company shall be deemed to be in compliance with the conditions of the attached bond for the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with said conditions.
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5.
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The Controlling Company may give notice in accordance with the terms of the attached bond, terminating or canceling the attached bond as an entirety or as to any Employee, and any notice so given shall terminate or cancel the liability of all of said Companies as an entirety or as to such Employee, as the case may be.
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6.
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Any Company other than the Controlling Company may give notice in accordance with the terms of the attached bond, terminating or canceling the entire liability of such other Company under the attached bond or as to any Employee.
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7.
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In the absence of a request from any of said Companies that notice of termination or cancelation by the Insured of the attached bond in its entirety be given to or filed directly with it, the giving of such notice in accordance with the terms of the attached bond to the Controlling Company shall terminate or cancel the liability of all of said Companies as an entirety. The Insured may terminate or cancel the entire liability of any Company, other than the Controlling Company, under the attached bond by giving notice of such termination or cancelation to such other Company, and shall send copy of such notice to the Controlling Company.
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This rider/endorsement, which forms part of and is for attachment to the following described bond/policy issued by the designated Underwriter/Company takes effect on the effective date of said bond/policy, unless another effective date is shown below, at the hour stated in said bond/policy and expires concurrently with said bond/policy.
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Must be Completed
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Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
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ENDT. NO.
3
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POLICY NO.
169906855
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ISSUED TO
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EFFECTIVE DATE OF
THIS ENDORSEMENT
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Countersigned by
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Authorized Representative
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In the event of the termination or cancelation of the attached bond as an entirety, no Company shall be liable to the Insured for a greater proportion of any return premium due the Insured than the amount underwritten by such Company bears to the Aggregate Limit of Liability of the attached bond.
In the event of the termination or cancelation of the attached bond as to any Company, such Company alone shall be liable to the Insured for any return premium due the Insured on account of such termination or cancelation. The termination or cancelation of the attached bond as to any Company other than the Controlling Company shall not terminate, cancel or otherwise affect the liability of the other Companies under the attached bond.
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Underwritten for the sum of $12,000,000
except as follows:
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Controlling Company
Continental Casualty Company
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N/A
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By:_________________________
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Underwritten for the sum of $10,400,000
except as follows:
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St. Paul Fire & Marine Insurance Company
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N/A
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By:_________________________
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Underwritten for the sum of $8,800,000
except as follows:
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This rider/endorsement, which forms part of and is for attachment to the following described bond/policy issued by the designated Underwriter/Company takes effect on the effective date of said bond/policy, unless another effective date is shown below, at the hour stated in said bond/policy and expires concurrently with said bond/policy.
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Must be Completed
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Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
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ENDT. NO.
3
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POLICY NO.
169906855
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ISSUED TO
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EFFECTIVE DATE OF
THIS ENDORSEMENT
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Countersigned by
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Authorized Representative
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N/A
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By:_________________________
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Underwritten for the sum of $8,800,000
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Federal Insurance Company
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N/A
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By:_________________________
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Accepted:
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By:
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COSURETY RIDER
FOR USE WITH ALL FORMS OF STANDARD BONDS.
REVISED TO OCTOBER, 1987.
This rider/endorsement, which forms part of and is for attachment to the following described bond/policy issued by the designated Underwriter/Company takes effect on the effective date of said bond/policy, unless another effective date is shown below, at the hour stated in said bond/policy and expires concurrently with said bond/policy.
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Must be Completed
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Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
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ENDT. NO.
3
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POLICY NO.
169906855
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ISSUED TO
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EFFECTIVE DATE OF
THIS ENDORSEMENT
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Countersigned by
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Authorized Representative
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OMNIBUS JOINT LOSS PAYEE RIDER
In consideration of the premium paid, it is agreed that the Commercial Crime Coverage Part D is amended as follows:
At the written request of
«CustomerName» Insureds,
any payment in satisfaction of such loss covered by this policy involving
Assets,
in which
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1.
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Loss,
if any, under Coverage Part D shall be adjusted with
SEI Investments Corporation Insureds
and shall be paid to
SEI Investments Corporation Insureds
and any entity with whom
SEI Investments Corporation
Insureds
have contracted to do business pursuant to a written agreement, (hereinafter referred to as "Loss Payee") in whatever form or capacity their interest may appear.
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2.
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It is understood that any payment made jointly under this Coverage Part D to
SEI Investments Corporation Insureds
and any Loss Payee shall be construed to be payment to
SEI Investments Corporation Insureds
and shall satisfy the Underwriter's liability to
SEI Investments Corporation Insureds
under the Policy.
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3.
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This endorsement does not confer any rights, benefits or privileges upon the Loss Payee other than that of a joint payee on any loss payment under this Coverage Part D.
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4.
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The limit of the Underwriter's liability shall not be modified by the inclusion of such Loss Payee on any loss payment under this Coverage Part D.
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All terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No signature is required if issued with the Policy or if it is effective on the Policy Effective Date)
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GSL5260 (12-04)
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Policy No:
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169906855
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Page 1
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Endorsement No:
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4
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Effective Date:
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Insured Named: SEI Investments Management Corporation
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© CNA All Rights Reserved.
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An insurance company, its agents, employees, or service contractors acting on its behalf, may provide services to reduce the likelihood of injury, death or loss. These services may include any of the following or related services incident to the application for, issuance, renewal or continuation of, a policy of insurance:
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2.
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consultation or advice; or
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The "Insurance Consultation Services Exemption Act" of Pennsylvania provides that the insurance company, its
agents, employees or service contractors acting on its behalf, is not liable for damages from injury, death or loss
occurring as a result of any act or omission by any person in the furnishing of or the failure to furnish these
services.
The Act does not apply:
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1.
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if the injury, death or loss occurred during the actual performance of the services and was caused by the negligence of the insurance company, its agents, employees or service contractors;
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2.
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to consultation services required to be performed under a written service contract not related to a policy of insurance; or
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3.
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if any acts or omissions of the insurance company, its agents, employees or service contractors are judicially determined to constitute a crime, actual malice, or gross negligence.
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FOR USE WITH BONDS ISSUED IN
PENNSYLVANIA.
ADOPTED JANUARY, 1981
All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No signature is required if issued with the Policy or if it is effective on the Policy Effective Date)
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SR 6117 (10-81)
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Policy No:
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169906855
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Page 1
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Endorsement No:
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5
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Continental Insurance Company
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Effective Date:
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Insured Name: SEI Investments Management Corporation
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© CNA All Rights Reserved.
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1. The Underwriter will mark its records to indicate that the National Association of Securities Dealers, Inc. is
to be notified promptly concerning the cancelation or substantial modification of the attached bond, whether at the request of the Insured or the Underwriter, and will use its best efforts to so notify said Association but failure to so notify said Association shall not impair or delay the effectiveness of any such cancelation or modification.
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CANCELATION RIDER
FOR USE WITH FINANCIAL INSTITUTION BOND, STANDARD FORM NO. 14, WHEN ISSUED TO THOSE MEMBER FIRMS OF THE NATIONAL ASSOCIATION OF SECURITIES DEALERS WHO HAVE EMPLOYEES AND ARE REQUIRED TO JOIN THE SECURITIES INVESTOR PROTECTION CORPORATION, AND WHO ARE SUBJECT TO RULE 15C3-1 UNDER THE SECURITIES EXCHANGE ACT OF 1934, TO PROVIDE FOR NOTICE OF CANCELATION OR SUBSTANTIAL MODIFICATION TO SUCH ASSOCIATION. REVISED TO JUNE, 1990.
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All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No signature is required if issued with the Policy or if it is effective on the Policy Effective Date)
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SR 5969a (6-90)
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Policy No:
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169906855
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Page 1
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Endorsement No:
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6
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Continental Insurance Company
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Effective Date:
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Insured Name: SEI Investments Management Corporation
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© CNA All Rights Reserved.
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To be attached to and form part of Financial Institution Bond, Standard Fomi No. 14, No.
169906855
This rider shall become effective as of 12:01 a.m. standard time as specified on the bond.
In consideration of the premium paid, it is agreed that the following is added to the end of LIMIT OF LIABILITY:
In the event of loss to which both Bond No. 169906855 issued by the Underwriter to SEI Investments Management Corporation and bond no. 169794798 issued by the Underwriter to SEI Investments Company apply, the liability of the Underwriter for such loss shall not exceed, in the aggregate, the highest available Single Loss Limit of Liability applicable to such loss under either bond, and The Single Loss Deductible applied to such loss shall be the highest under any applicable Insuring Agreement.
Nothing contained herein 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.
This endorsement, which forms a part of and is for attachment to the following described Policy issued by the designated Insurers takes effect on the effective date of said Policy, unless another effective date is shown below, at the hour stated in said Policy and expires concurrently with said Policy.
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Must be Completed
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Complete Only When This Endorsement Is Not Prepared with the Policy or is Not to be Effective with the Policy
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ENDT. NO.
7
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POLICY NO.
169906855
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ISSUED TO
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EFFECTIVE DATE OF
THIS ENDORSEMENT
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Countersigned by
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Authorized Representative
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SECURITIES AND EXCHANGE REGULATORY COMPLIANCE RIDER
In consideration of the premium paid for this Bond, It is agreed that:
Pursuant to Rule 17g-1 (c) under the Company Act, the parties agree as follows:
The Insurer will provide all registered management investment companies under this bond with:
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1.
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a copy of the bond and any amendment promptly after the execution of the bond,
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2.
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a copy of each formal filing of a claim under the bond by any other named insured promptly after receipt of the claim, and
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3.
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notification of the terms of settlement of each such claim prior to the execution of the settlement.
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All other terms and conditions of the Bond remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No signature is required if issued with the Policy or if it is effective
on the Policy Effective Date)
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GSL5219(11-04)
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Policy No:
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169906855
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Page 1
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Endorsement No:
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8
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Continental Insurance Company
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Effective Date:
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Insured Named: SEI Investments Management Corporation
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© CNA All Rights Reserved.
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UNAUTHORIZED SIGNATURE RIDER
In consideration of the premium paid for this Bond, it is agreed as follows:
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1.
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The following is added to the
INSURING AGREEMENT
section:
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UNAUTHORIZED SIGNATURE
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1.
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Loss resulting by reason of the Insured having accepted, paid or cashed any check or withdrawal order or draft, made or drawn on a customer's 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.
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2.
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It shall be a condition precedent to the Insured's right of recovery under this rider that the Insured shall have on file signatures of all persons who are authorized signatories on such account.
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2.
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The following is added to Section 4.
LIMIT OF LIABILITY:
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The Limit of Liability for the coverage provided by this nder shall be $500,000, subject to a single loss deductible of 25,000, provided however, that such liability shall be part of and not in addition to the Limit of Liability stated in item 4. of the Declarations of the attached bond.
All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No
signature is required if issued with the Policy or if it is effective on the Policy Effective Date)
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GSL5304XX (12-04)
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Policy No:
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169906855
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Page 1
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Endorsement No:
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9
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Continental Insurance Company
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Effective Date:
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© CNA All Rights Reserved.
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Trade and Economic Sanctions Endorsement
In consideration of the premium paid, a new condition is added to the policy as follows:
This policy does not provide coverage for an
Named Entity Insured
transaction or that part of
Loss
that is uninsurable under the laws or regulations of the United States concerning trade or economic sanctions.
All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy and expires concurrently with said Policy unless another effective date is shown below.
By Authorized Representative
(No signature is required if issued with the Policy or if it is effective on the Policy Effective Date)
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PR09482 (7-07)
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Policy No:
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169906855
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Page 1
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Endorsement No:
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10
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Continental Insurance Company
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Effective Date:
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Insured Name: SEI Investments Management Corporation
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© CNA All Rights Reserved.
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