ACCOUNT INSURANCE Clause Samples
The ACCOUNT INSURANCE clause requires that insurance coverage be maintained for specific accounts or assets referenced in the agreement. Typically, this means the party responsible for the account must obtain and keep in force insurance policies that protect against losses such as theft, damage, or other specified risks. This clause ensures that both parties are protected from financial loss related to the covered accounts, thereby allocating risk and providing security in the event of unforeseen incidents.
ACCOUNT INSURANCE. Coverage for cash and securities in protected client accounts is provided from two sources. The Securities Investor Protection Corporation (SIPC) protects up to $500,000, per customer, including $250,000 for claims for cash. Above and beyond SIPC coverage, Clearing Firm maintains a program of additional insurance coverage through London Underwriters (led by ▇▇▇▇▇'▇ of London Syndicates), referred to here as "Lloyd's." For clients who have received the full SIPC payout limit, Clearing Firm’s policy with Lloyd's provides additional coverage above the SIPC limits for any missing securities and cash in client brokerage accounts up to a Clearing Firm aggregate limit of $1 billion (including up to $1.9 million for cash per client). In other words, the aggregate amount of all client losses covered under this policy are subject to a limit of $1 billion, with each client covered up to $1.9 million for cash. For more information on SIPC coverage, please see the explanatory brochure at ▇▇▇.▇▇▇▇.▇▇▇ or call ▇▇▇-▇▇▇-▇▇▇▇. For more information about Lloyd's, please visit ▇▇▇.▇▇▇▇▇▇.▇▇▇. Neither coverage protects against losses from any change in the market values of investments.
ACCOUNT INSURANCE. Funds in your account at Trademark FCU are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the United States Government. If you would like more information about your share insurance, a pamphlet entitled “Your Insured Funds” is available upon request or you may navigate to ▇▇▇.▇▇▇▇.▇▇▇.
ACCOUNT INSURANCE. All accounts at UCU are federally insured to at least $250,000 by the National Credit Union Administration, a United States Government agency, and backed by the full faith and credit of the U. S. Government. ▇▇▇ deposits are insured separately from other deposits to $250,000. For additional information on share insurance, please refer to the National Credit
ACCOUNT INSURANCE. Currently, securities held in custody by the Clearing Agent for your account are protected up to the total amount in the account. Of this total, Securities Investor Protection Corporation (“SIPC”) provides $500,000 of coverage, including
ACCOUNT INSURANCE. Currently, securities held in custody by the Clearing Agent for your account are protected up to the total amount in the account. Of this total, Securities Investor Protection Corporation (“SIPC”) provides $500,000 of coverage, including $100,000 for claims for cash. The remaining coverage on securities only is provided by the Clearing Agent through a commercial insurer. This account protection applies when a SIPC member firm fails financially and is unable to meet obligations to securities customers, but it does not protect against losses from the rise and fall in market value of investments. You will be notified of any change in this protection. Refer to the SIPC website for further information; which can be found by visiting: ▇▇▇.▇▇▇▇.▇▇▇.