FINANCIAL INSTITUTIONS INSURANCE üÆܲÜê²Î²Ü вêî²îàôÂÚàôÜܺðÆ ²ä²Ðà첶ðàôÂÚàôÜ

Agenda/Ìñ³·Çñ 1. BANKERS BLANKET BOND (BBB) вزä²ðö²Î ´²ÜβÚÆÜ Ì²ÌÎàôÚ (дÌ) 2. COMPUTER CRIME (CC) вزβð¶â²ÚÆÜ Ð²Üò²¶àðÌàôÂÚàôÜ (ÐÐ) 3. PROFESSIONAL INDEMNITY (PI) زêܲ¶Æî²Î²Ü ä²î²êʲܲîìàôÂÚàôÜ (Øä) 4. DIRECTORS AND OFFICERS INSURANCE (D&O) îÜúðºÜܺðÆ ºì Ժβì²ðܺðÆ ä²î²êʲܲîìàôÂÚ²Ü ²ä²Ðà첶ðàôÂÚàôÜ (îÔ) 5. THE MARKET ÞàôβÜ

Covered Risks/²å³Ñáí³·ñíáÕ éÇëÏ»ñ What policies can you purchase ? ÆÝãåÇëDZ ³å³Ñáí³·ñáõÃÛ³Ý å³Ûٳݳ·ñ»ñ ¸áõù ϳñáÕ »ù ·Ý»É  Bankers Blanket Bond (BBB) вزä²ðö²Î ´²ÜβÚÆÜ Ì²ÌÎàôÚ (дÌ)  Electronic Computer Crime (ECCP) ¾ÈºÎîðàܲÚÆÜ - вزβð¶â²ÚÆÜ Ð²Üò²¶àðÌàôÂÚàôÜ (¾ÐÐ)  Professional Indemnity(PI) زêܲ¶Æî²Î²Ü ä²î²êʲܲîìàôÂÚàôÜ (Øä)  Directors’ & Officers’ (D&O) îÜúðºÜܺðÆ ºì Ժβì²ðܺðÆ ä²î²êʲܲîìàôÂÚ²Ü ²ä²Ðà첶ðàôÂÚàôÜ (îÔ)

What is BBB and why you need it Q: What is Bankers Blanket Bond Insurance ?Ð - ƱÝã ¿ дÌ-Á: A: “BBB” Insurance attempts to provide, under one insurance contract, protection for money, negotiable's, funds and other valuable property against CRIME RISKS such as theft (by employees or other parties) and robbery. ä – Ð´Ì ³å³Ñáí³·ñáõÃÛáõÝÁ Ù»Ï å³Ûٳݳ·ñáí Ý»ñϳ۳óÝáõÙ ¿ ýÇݳÝë³Ï³Ý, ÷á˳ÝóáõÙ³ÛÇÝ, ýáݹ³ÛÇÝ ¨ ³ÛÉ ³ñÅ»ù³íáñ ·áõÛùÇ å³ßïå³ÝáõÃÛáõÝ Ð²Üò²¶àðÌàôÂÚ²Ü èÆêκðÆò, ÇÝãåÇëÇù »Ý ·áÕáõÃÛáõÝÁ (³ß˳ï³ÏÇóÝ»ñÇ Ï³Ù ³ÛÉ ³ÝÓ³Ýó ÏáÕÙÇó) ¨ ÏáÕáåáõïÁ: Q: Why do you need “BBB” Insurance ? Ð - ÆÝãDZ ѳٳñ ¿ Ð´Ì ³å³Ñáí³·ñáõÃÛáõÝÁ: A: Crime is a global problem and is often an unfortunate “by-product” of social advancement. Crime is on the increase everywhere in the world and the sad fact is that many Banks/Financial Institutions have only become alerted to this as a result of a crime loss. Because of today’s economic climate there has been a surge in armed bank raids, fraudulent transfer of funds by employees, theft of cash by employees, raids on cash in transit and increased document fraud. ä - гÝó³ÝùÁ ·Éáµ³É ËݹÇñ ¿ ¨ Ñ³×³Ë ëáóÇ³É³Ï³Ý ½³ñ·³óÙ³Ý ÏáÕÙݳÏÇ ³ñ¹ÛáõÝù: гÝó³ÝùÝ ³ß˳ñÑáõÙ ½³ñ·³óáõÙ ¿ ³åñáõÙ, ¨ ïËáõñ ÷³ëïÝ ³ÛÝ ¿, áñ ß³ï µ³ÝÏ»ñ ¨ ýÇݳÝë³Ï³Ý ѳëï³ïáõÃÛáõÝÝ»ñ Ùï³Ñá·íáõÙ »Ý ¹ñ³ Ù³ëÇÝ ÙdzÛÝ Ñ³Ýó³ÝùÇ å³ï׳éáí ïáõÅ»Éáõó Ñ»ïá: ²Ûëûñí³ ïÝï»ë³Ï³Ý ÙÃÝáÉáñïÇ å³ï׳éáí ï»ÕÇ ¿ áõÝ»ó»É µ³ÝÏ»ñÇ íñ³ ½ÇÝí³Í ѳñÓ³ÏáõÙÝ»ñÇ, µ³ÝϳÛÇÝ ³ß˳ïáÕÝ»ñÇ ÏáÕÙÇó ýáݹ»ñÇ ³Ý³ñ¹³ñ ÷á˳ÝóÙ³Ý ¨ ϳÝËÇÏ ¹ñ³ÙÇ ·áÕáõÃÛ³Ý, ׳ݳå³ñѳÛÇÝ Ñ³ñÓ³ÏáõÙÝ»ñÇ ¨ ÷³ëï³ÃÕûñÇ Ï»ÕÍÙ³Ý Ýϳï»ÉÇ ³×: EVERY BANK AND FINANCIAL INSTITUTION IS VULNERABLE. Úàõð²ø²ÜâÚàôð ´²ÜÎ ºì üÆܲÜê²Î²Ü вêî²îàôÂÚàôÜ ÊàòºÈÆ ¾

Climate for Fraud / λÕÍÙ³ÝÁ Ýå³ëïáÕ Ñ³Ý·³Ù³ÝùÝ»ñ  Acquisition, Merger or Disposals Ò»éùµ»ñáõÙÝ»ñ, ÙdzÓáõÉáõ٠ϳ٠ջϳí³ñáõÙ  Management Changes γé³í³ñÙ³Ý ÷á÷áËáõÃÛáõÝÝ»ñ  Changing Technology î»ËÝáÉá·Ç³ÛÇ ÷á÷áËáõÃÛáõÝ  Moving Locations î»Õ³÷áËáõÙÝ»ñ  Launching a new service Üáñ ͳé³ÛáõÃÛ³Ý ëï»ÕÍáõÙ  Understaffing ²ß˳ïáõÅÇ ³Ýµ³í³ñ³ñáõÃÛáõÝ

Why commit the Crime? / ÆÝãáõ± ϳï³ñ»É ѳÝó³·áñÍáõÃÛáõÝ Why? ÆÜâàô± Dissatisfaction ¸Å·áÑáõÃÛáõÝ Financial Difficulties üÇݳÝë³Ï³Ý ¹Åí³ñáõÃÛáõÝÝ»ñ Blackmail êå³éݳÉÇù Greed ÄɳïáõÃÛáõ Ý Persuasion by a dishonest relative or acquaintance/²Ý³½ÝÇí µ³ñ»Ï³ÙÇ Ï³Ù Í³ÝáÃÇ Ñ³Ùá½»ÉÁ

Who commits the crimes?/ àíù»±ñ »Ý ϳï³ñáõ٠ѳÝó³·áñÍáõÃÛáõÝ

How does it happen?/ ÆÝãå»±ë ¿ ¹³ å³ï³ÑáõÙ  Employee embezzlement / ²ß˳ï³ÏÇóÝ»ñÇ ë»÷³Ï³Ý³óáõÙ  Hold ups / гñÓ³ÏáõÙÝ»ñ  Fraudulent invoices / λÕÍ Ñ³ßÇíÝ»ñ  Transit of payroll / ì³ñÓ³ïñáõÃÛ³Ý áõß³óáõÙ  Fraudulent purchasing of stock and other trading operations / ²åñ³ÝùÝ»ñÇ Ï»ÕÍ ·ÝáõÙ ¨ ³ÛÉ ³é¨ïñ³Ï³Ý ·áñÍáÕáõÃÛáõÝÝ»ñ  Expenses / ̳Ëë»ñ  Loans / ì³ñÏ»ñ

Main Insuring Clauses / ÐÇÙÝ³Ï³Ý ²å³Ñáí³·ñáõÃÛ³Ý ¹ñáõÛÃÝ»ñ  Fidelity/ ʳñ¹³ËáõÃÛáõÝ  On Premises/ î³ñ³ÍùÝ»ñ  In Transit/ öá˳¹ñáõÙ  Forgery/Securities/ λÕÍáõÙ/²ñÅ»ÃÕûñ  Counterfeit Currency /λÕÍ ¹ñ³Ù  Damage to Offices and Contents/ ìÝ³ë ·ñ³ë»ÝÛ³ÏÝ»ñÇÝ ¨ å³ñáõݳÏáõÃÛ³ÝÁ

Fidelity/ ʳñ¹³ËáõÃÛáõÝ Covers loss due to fraudulent/dishonest acts of an employee (with the intent to make improper personal gain) whether committed alone or in collusion with others. ²ß˳ï³ÏóÇ` ÙdzÛÝ³Ï Ï³Ù áõñÇßÝ»ñÇ Ñ»ï ÙdzëÇÝ Ï³ï³ñ³Í ³Ý³½ÝÇí ·áñÍáÕáõÃÛáõÝÝ»ñÇ Ñ»ï¨³Ýùáí ³é³ç³ó³Í ÏáñëïÇ Í³ÍÏáõÛà (ë»÷³Ï³Ý ß³Ñ Ñ»ï³åݹ»Éáõ å³ñ³·³ÛáõÙ):

Loss of or Damage to Valuable Property through theft, burglary, robbery, false pretence, hold-up, mysterious disappearance or damage by any cause whilst on: / ²ñÅ»ù³íáñ ·áõÛùÇ Ïáñáõëï ϳ٠íݳë` ·áÕáõÃÛ³Ý, ÏáÕáåáõïÇ, Ï»ÕͳíáñáõÃÛ³Ý, ѳñÓ³ÏÙ³Ý, ³Ýµ³ó³ïñ»ÉÇ ³ÝÑ»ï³óÙ³Ý Ï³Ù áñ¨¿ ³ÛÉ å³ï׳éáí, »Ã» ¹»åùÁ ï»ÕÇ ¿ áõÝ»ó»É` The Assured’s premises/²å³Ñáí³·ñí³ÍÇ ï³ñ³ÍùÝ»ñáõÙ Any recognised place of safe deposit including the Assured correspondent bank/ ä³ßïå³Ýí³Í Ý»ñ¹ñáõÙÝ»ñÇ áñ¨¿ ѳÛïÝÇ í³ÛñáõÙ, Ý»ñ³éÛ³É ²å³Ñáí³·ñí³ÍÇ ÃÕóÏóáÕ µ³ÝÏÁ On Premises/ î³ñ³ÍùÝ»ñ

In Transit / ֳݳå³ñÑÇ ÁÝóóùáõÙ Loss or damage whilst in transit anywhere in the custody of:/¶áõÛùÇ ï»Õ³÷áËÙ³Ý Ï³Ù ÷á˳¹ñÙ³Ý ÁÝóóùáõ٠ѳëóí³Í íݳëÁ ϳ٠ÏáñáõëïÁ, ÙÇÝã ·áõÛùÁ íëï³Ñí³Í ϳ٠ѳÝÓÝí³Í ¿`  An Employee of the Assured/²å³Ñáí³·ñí³ÍÇ ³ß˳ï³ÏóÇÝ  A person designated by the Assured to have custody/²å³Ñáí³·ñí³ÍÇ ÏáÕÙÇó Ý߳ݳÏí³Í ³ÝÓÇÝ  A security armoured motor vehicle company/²Ýíï³Ý·áõÃÛ³Ý ½ñ³Ñ³å³ï/½ÇÝí³Í ³íïáÙ»ù»Ý³ÛÇ ÁÝÏ»ñáõÃÛ³ÝÁ

Forgery or Alteration/λÕÍáõ٠ϳ٠÷á÷áËáõÃÛáõÝ  Loss resulting from:- / Îáñáõëï, áñÝ ³é³ç³ó»É ¿`  Forgery or fraudulent alteration of, or in cheques, bill of exchange, acceptances, drafts, certificates of deposits, etc. (banking collateral instruments)/â»Ï»ñÇ, ÷á˳ÝóÙ³Ý Ñ³ßÇíÝ»ñÇ, ѳÝÓݳñ³ñ³·ñ»ñÇ, Ý»ñ¹ñáõÙ³ÛÇÝ Ñ³í³ëï³·ñ»ñÇ Ï»ÕÍÙ³Ý Ï³Ù Ë³ñ¹³Ë ÷á÷áËáõÃÛ³Ý Ñ»ï¨³Ýùáí,  When the Assured makes a payment or similar transaction in reliance upon a written instruction which either/ºñµ ²å³Ñáí³·ñí³ÍÁ ϳï³ñáõÙ ¿ í׳ñáõ٠ϳ٠ÝÙ³Ý áñ¨¿ ·áñÍáÕáõÃÛáõÝ` ϳåí³Í ·ñ³íáñ Ññ³Ñ³Ý·Ç Ñ»ï, áñÁ  Bears a forged signature, or/ÏñáõÙ ¿ Ï»ÕÍ ëïáñ³·ñáõÃÛáõÝ  Has been fraudulently altered/ Ï»ÕÍí³Í ¿

Securities/²ñÅ»ÃÕûñ  Loss resulting from the Assured acting in good faith upon Securities which prove to be:-/Îáñáõëï, áñÝ ³é³ç³ó»É ¿ ÷³ëï³ÃÕûñÇ Ýϳïٳٵ ²å³Ñáí³·ñí³ÍÇ íëï³ÑáõÃÛ³Ý Ñ»ï¨³Ýùáí, »ñµ ¹ñ³Ýù »Õ»É »Ý`  Counterfeit/Forged /λÕÍ  Fraudulently altered/ʳñ¹³Ëáñ»Ý Ï»ÕÍí³Í  Lost or stolen/Îáñ³Í ϳ٠·áÕ³óí³Í

Counterfeit Currency/λÕÍ ¹ñ³Ù  Loss arising out of receipt or acceptance of counterfeit currency (notes or coins)/λÕÍ ¹ñ³ÙÇ (ÃÕó¹ñ³Ù ϳ٠ٻï³Õ³¹ñ³Ù) ëï³óÙ³Ý Ï³Ù ÁݹáõÝÙ³Ý Ñ»ï¨³Ýùáí ³é³ç³ó³Í Ïáñáõëï:

Offices and Contents/¶ñ³ë»ÝÛ³ÏÝ»ñ ¨ å³ñáõݳÏáõÃÛáõÝ Loss of or damage to/Îáñáõëï ϳ٠íݳëí³Íù` (a)furnishings, fixtures, equipment (except computer equipment of any kind) caused by burglary, robbery, hold-up, theft or larceny, or any attempt thereat, or by vandalism or malicious mischief./ Ï»Ýó³Õ³ÛÇÝ ï»ËÝÇϳÛÇ, ë³ñù³íáñáõÙÝ»ñÇ (µ³óÇ ó³Ýϳó³Í ï»ë³ÏÇ Ñ³Ù³Ï³ñ·ã³ÛÇÝ ë³ñù³íáñáõÙÝ»ñÇó)` ÏáÕáåáõïÇ, ·áÕáõÃÛ³Ý, ѳñÓ³ÏÙ³Ý Ï³Ù ¹ñ³Ýó ÷áñÓÇ, í³Ý¹³ÉǽÙÇ Ï³Ù Ýå³ï³Ï³áõÕÕí³Í íݳëí³Íù ѳëóÝ»Éáõ ѻ勉Ýùáí, (b)any office of the Assured caused by burglary, robbery, hold-up, theft or larceny, or any attempt thereat, or to the interior of any such office by vandalism or malicious mischief/ ²å³Ñáí³·ñí³ÍÇ ó³Ýϳó³Í ·ñ³ë»ÝÛ³ÏÇ` ÏáÕáåáõïÇ, ·áÕáõÃÛ³Ý, ѳñÓ³ÏÙ³Ý Ï³Ù ¹ñ³Ýó ÷áñÓÇ Ñ»ï¨³Ýùáí, ݳ¨ ·ñ³ë»ÝÛ³ÏÇ ÇÝï»ñÇ»ñÇ Ïáñáõëï ϳ٠íݳëí³Íù` í³Ý¹³ÉǽÙÇ ¨ Ýå³ï³Ï³áõÕÕí³Í íݳëí³Íù ѳëóÝ»Éáõ ³ñ¹ÛáõÝùáõÙ:

BBB Losses - Fidelity / Ð´Ì ÏáñëïÇ ¹»åù»ñ. ˳ñ¹³ËáõÃÛáõÝ  Hungarian International Bank/ÐáõÝ·³ñ³Ï³Ý ØÇç³½·³ÛÇÝ ´³ÝÏ Internal Fraud caused by misallocation of funds into dormant account.... GBP 500,000/ Ü»ñùÇÝ Ë³ñ¹³ËáõÃÛáõÝ` £ 500,000  Bank of Vidrogenya, Ukraine/àõÏñ³ÇݳÛÇ §Vidrogenya¦ µ³ÝÏ Third party fraud with 16,000 cheques drawn on false bank accounts…. GBP 4,700,000/ ºññáñ¹ ÏáÕÙÇ Ë³ñ¹³ËáõÃÛáõÝ` 16,000 ã»Ï»ñÇ ·ñ³ÝóáõÙ Ï»ÕÍ µ³ÝϳÛÇÝ Ñ³ßÇíÝ»ñÇ íñ³… £ 4,700,000  IPB Investicni A Postovni Banka, Czech Republic/â»ËdzÛÇ “IPB Investicni A Postovni Banka” Internal fraud caused by head of the bank and his deputy, whom were arrested and sentenced to prison…/ Ü»ñùÇÝ Ë³ñ¹³ËáõÃÛáõÝ µ³ÝÏÇ ïÝûñ»ÝÇ ¨ Ýñ³ Ý»ñϳ۳óáõóãÇ ÏáÕÙÇó, áíù»ñ Ó»ñµ³Ï³Éí»É ¨ µ³Ýï³ñÏí»É »Ý… Source/: Various Press Articles/ Source/²ÕµÛáõñÁ : Various Press Articles/ î³ñµ»ñ Ñá¹í³ÍÝ»ñ Ù³ÙáõÉÇó

BBB Losses - On premises/Ð´Ì ÏáñëïÇ ¹»åù»ñ. î³ñ³ÍùÝ»ñ  Hansabank – Estonia/ §Ð³Ýë³µ³ÝϦ ¾ëïáÝdz On Premises – est …. GBP 135,000/î³ñ³ÍùÝ»ñ - £ 135,000 Hold up of a branch of the bank./гñÓ³ÏáõÙ µ³ÝÏÇ Ù³ëݳ×ÛáõÕÇ íñ³  Banca Di Roma – Italy/ §Di Roma¦ µ³ÝÏ Æï³Édz On Premises – est …. Euro 50,000,000/î³ñ³ÍùÝ»ñ 50,000,000 »íñá A number of thieves broke into the Banks Vault and cleared out approx.570 Safe Deposit Boxes/ гÝó³·áñÍÝ»ñÇ ËáõÙµÁ Ý»ñËáõÅ»É ¿ µ³ÝÏ ¨ ï³ñ»É Ùáï³íáñ³å»ë 570 ³Ýѳï³Ï³Ý å³Ñ³ñÏÕ»ñ:  Budapest Bank – Hungary /§´áõ¹³å»ßï¦ µ³ÝÏ ÐáõÝ·³ñdz On Premises - est... GBP 650,000/ î³ñ³ÍùÝ»ñ - £ 650,000 Armed raid on Laktanya Utca branch/¼ÇÝí³Í ѳñÓ³ÏáõÙ §È³Ïï³ÝÛ³ àõïϳ¦ Ù³ëݳ×ÛáõÕÇ íñ³ Source/²ÕµÛáõñÁ : Various Press Articles/ î³ñµ»ñ Ñá¹í³ÍÝ»ñ Ù³ÙáõÉÇó

BBB Losses - Other sections/Ð´Ì ÏáñëïÇ ¹»åù»ñ. ²ÛÉ µ³ÅÇÝÝ»ñ  Various Middle Eastern Banks/ ²ÛÉ ÙÇçÇÝ ³ñ¨»ÉÛ³Ý µ³ÝÏ»ñ Forged securities - est... USD 150,000,000/»ñÇ ³Ýíï³Ý·áõÃÛáõÝ - 150,000,000 ²ØÜ ¹áɳñ A person obtained securities by using forged documents/ØÇ ³ÝÓ ³ñÅ»ÃÕûñ ¿ Ó»éù µ»ñ»É` û·ï³·áñÍ»Éáí Ï»ÕÍ ÷³ëï³ÃÕûñ: Source/²ÕµÛáõñÁ : Various Press Articles/ î³ñµ»ñ Ñá¹í³ÍÝ»ñ Ù³ÙáõÉÇó

Electronic Computer Crime/¾É»ÏïñáݳÛÇÝ- ѳٳϳñ·ã³ÛÇÝ Ñ³Ýó³·áñÍáõÃÛáõÝ Computer Crime Insurance attempts to provide, under one insurance contract, protection for “electronic funds” against Crime Risks perpetrated by a third party through the Banks/Financial Institutions computer system(s). гٳϳñ·ã³ÛÇÝ Ñ³Ýó³·áñÍáõÃÛ³Ý ³å³Ñáí³·ñáõÃÛáõÝÁ Ù»Ï å³Ûٳݳ·ñÇ Ý»ñùá Ý»ñϳ۳óÝáõÙ ¿ §¾É»ÏïñáݳÛÇÝ ýáݹ»ñǦ å³ßïå³ÝáõÃÛáõÝ` Áݹ¹»Ù гÝó³·áñÍáõÃÛ³Ý éÇëÏ»ñÇ, áñáÝù Çñ³Ï³Ý³óíáõÙ »Ý »ññáñ¹ ÏáÕÙÇ ³ÝÓ³Ýó ÏáÕÙÇó` µ³ÝϳÛÇÝ/ýÇݳÝë³Ï³Ý ѳëï³ïáõÃÛáõÝÝ»ñÇ Ñ³Ù³Ï³ñ·ã³ÛÇÝ Íñ³·ñ»ñÇ ÙÇçáóáí: What risks does it cover? ÆÝãåÇëDZ éÇëÏ»ñ ¿ ³ÛÝ ³å³Ñáí³·ñáõÙ

Main Insuring Clauses/²å³Ñáí³·ñáõÃÛ³Ý ÑÇÙÝ³Ï³Ý ¹ñáõÛÃÝ»ñ Electronic Transmissions/ ¿É. ÷á˳ÝóáõÙÝ»ñ Electronic Securities/ ¾É. ³ñÅ»ÃÕûñ Computer Virus/ гٳϳñ·ã³ÛÇÝ íÇñáõë Voice Initiated Instructions/ Ò³ÛݳÛÇÝ Ññ³Ñ³Ý·Ý»ñ Computer Systems/гٳϳñ ·ã³ÛÇÝ Íñ³·ñ»ñ Electronic & Telefacsimile Communications/ ¾É. ¨ Ñ»é³Ëáë/ý³ùë ѳÕáñ¹³ÏóáõÙ Electronic Computer Programs/¾É. ѳÙ. Íñ³·ñ»ñ Electronic Data & Media / ¾É. ïíÛ³ÉÝ»ñ ¨ ÙÇçáóÝ»ñ

Computer Crime Losses/гٳϳñ·ã³ÛÇÝ Ñ³Ýó³·áñÍáõÃÛ³Ý ¹»åù»ñ  Citibank – USA / §êÇÃǵ³ÝϦ ²ØÜ Third Party Fraud - est... £4,000,000/ ºññáñ¹ ÏáÕÙÇ Ë³ñ¹³ËáõÃÛáõÝ - £ 4,000,000 Hacking by Russian, Vladimir Levin, in St.Petersburg instructing cash transfers to his own account/ ê.-ä»ï»ñµáõñ·áõÙ éáõë ìÉ. ȨÇÝÇ ÏáÕÙÇó ϳÝËÇÏ ¹ñ³ÙÇ ÷á˳ÝóáõÙ ë»÷³Ï³Ý ѳßíÇÝ:  Salomon Brothers – USA / §êáÕáÙáÝ »Õµ³ÛñÝ»ñ¦ ²ØÜ Third Party Fraud - est... £400,000/ ºññáñ¹ ÏáÕÙÇ Ë³ñ¹³ËáõÃÛáõÝ - £ 400,000 Former Investor Services Specialist charged with hacking into shareholder accounts/ Ü»ñ¹ñáõÙ³ÛÇÝ Í³é³ÛáõÃÛáõÝÝ»ñÇ Ý³ËÏÇÝ ³ß˳ï³ÏÇóÁ Ù»Õ³¹ñí»É ¿ µ³ÅÝ»ïÇñáç ѳßÇíÝ»ñÇ Ù»ç Ùáõïù ·áñÍ»Éáõ ѳٳñ : Source/²ÕµÛáõñÁ : Various Press Articles/ î³ñµ»ñ Ñá¹í³ÍÝ»ñ Ù³ÙáõÉÇó

Professional Indemnity Insurance/سëݳ·Çï³Ï³Ý å³ï³ë˳ݳïíáõÃÛ³Ý ³å³Ñáí³·ñáõÃÛáõÝ  Protects a person during the exercise of his or her professional duty./ ä³ßïå³ÝáõÙ ¿ ³ÝÓÇÝ Ýñ³ Ù³ëݳ·Çï³Ï³Ý å³ñï³Ï³ÝáõÃÛáõÝÝ»ñÇ Ï³ï³ñÙ³Ý ÁÝóóùáõÙ:  Indemnifies the insured in respect of their legal liability to third party claimants resulting from a negligent act, negligent error or negligent omission committed during the course of business./ ä³ßïå³ÝáõÙ ¿ »ññáñ¹ ÏáÕÙÇ Ñ³Ûóáñ¹Ý»ñÇ Ñ³Ý¹»å ²å³Ñáí³·ñíáÕÇ Çñ³í³Ï³Ý å³ï³ë˳ݳïíáõÃÛáõÝÁ` ³Ý½·áõÛß ·áñÍáÕáõÃÛ³Ý, µ³óÃáÕÙ³Ý Ï³Ù ë˳ÉÙáõÝùÇ ¹»åùáõÙ, áñáÝù ÃáõÛÉ »Ý ïñí»É ³ß˳ï³Ýù³ÛÇÝ ·áñÍáõÝ»áõÃÛ³Ý ÁÝóóùáõÙ:  Third party claimants are likely to be clients and other parties who are owed a duty of care in the exercise of the business./ ºññáñ¹ ÏáÕÙÇ Ñ³Ûóáñ¹Ý»ñÁ ϳñáÕ »Ý ÉÇÝ»É ²å³Ñáí³·ñíáÕÇ Ñ³×³Ëáñ¹Ý»ñÁ ϳ٠³ÝÓÇÝù, áõ٠ѳݹ»å ²å³Ñáí³·ñíáÕÝ áõÝÇ Ù³ëݳ·Çï³Ï³Ý ·áñÍáõÝ»áõÃÛ³Ý ÁÝóóùáõÙ ½·áõßáõÃÛáõÝ óáõó³µ»ñ»Éáõ å³ñï³Ï³ÝáõÃÛáõÝ:

Professional Indemnity - Source of Claims / سëݳ·Çï³Ï³Ý å³ï³ë˳ݳïíáõÃÛáõÝ – гÛó»ñÇ ³ÕµÛáõñÁ  Legal liabilities of Financial Institutions towards their clients or any claimant third party arise out of:/üÇݳÝë³Ï³Ý ѳëï³ïáõÃÛáõÝÝ»ñÇ Çñ³í³Ï³Ý å³ï³ë˳ݳïíáõÃÛáõÝÁ ѳ׳Ëáñ¹Ý»ñÇ Ï³Ù »ññáñ¹ ÏáÕÙÇ ³ÛÉ Ñ³Ûóáñ¹Ý»ñÇ Ýϳïٳٵ ͳ·áõÙ ¿ `  Traditional banking activities/²í³Ý¹³Ï³Ý µ³ÝϳÛÇÝ ·áñÍáõÝ»áõÃÛáõÝÇó  Online banking and trading/Øßï³Ï³Ý µ³ÝϳÛÇÝ ¨ ³é¨ïñ³ÛÇÝ ·áñÍáõÝ»áõÃÛáõÝÇó  M&A advisory and consulting services/ ØdzíáñÙ³Ý ¨ Ò»éùµ»ñÙ³Ý ËáñÑñ¹³ïí³Ï³Ý ͳé³ÛáõÃÛáõÝÝ»ñÇ ïñ³Ù³¹ñáõÙÇó  Fund and Asset Management/üáݹ»ñÇ ¨ ϳåÇï³ÉÝ»ñÇ Ï³é³í³ñáõÙÇó

Professional Indemnity Losses/سëݳ·Çï³Ï³Ý å³ï³ë˳ݳïíáõÃÛ³Ý ÏáñëïÇ ¹»åù»ñ  Bank received a deposit from a client but accidentally deposited the funds in the wrong account, from where they were withdrawn by another party. The client went into liquidation and successfully sued the bank and its Directors for US$ 65,000,000./´³ÝÏÁ ëï³ó»É ¿ ѳ׳Ëáñ¹Çó ·áõÙ³ñ, áñÁ ë˳Éٳٵ ¹ñí»É ¿ ³ÛÉ Ñ³ßíÇ íñ³, áñï»ÕÇó ¿É ³ÛÝ í»ñóí»É ¿ ³ÛÉ Ñ³×³Ëáñ¹Ç ÏáÕÙÇó: г׳Ëáñ¹Á ëݳÝϳó»É ¿ ¨ ¹³ï³Ï³Ý ·áñÍ Ñ³ñáõó»É µ³ÝÏÇ ïÝûñÇÝáõÃÛ³Ý ¹»Ù, ¨ Ýñ³ÝÇó ëï³ó»É 65,000,000 ²ØÜ ¹áɳñ ÷áËѳïáõóáõÙ:  Bank and its Directors sued for US$ 7,500,000 alleging negligence in management of client’s funds by the Asset Management division./´³ÝÏÁ ¨ Ýñ³ ïÝûñÇÝáõÃÛáõÝÁ ïáõ·³Ýí»É ¿ 7,500,000 ²ØÜ ¹áɳñÇ ã³÷áí, ù³ÝÇ áñ µ³ó³Ñ³Ûïí»É ¿, áñ ϳåÇï³ÉÇ Ï³é³í³ñÙ³Ý µ³Å³ÝÙáõÝùÁ ³Ý÷áõÃáõÃÛáõÝ ¿ óáõó³µ»ñ»É ѳ׳Ëáñ¹Ý»ñÇ ýáݹ»ñÇ Ï³é³í³ñÙ³Ý áÉáñïáõÙ:  Private client claim against a bank and its Directors for US$ 8,000,000 for following poor advice on management of client’s Assets./г׳Ëáñ¹Ç ÏáÕÙÇó 8,000,000 ²ØÜ ¹áɳñÇ ¹³ï³Ï³Ý ѳÛó ¿ Ñ³ñáõóí»É µ³ÝÏÇ ¨ Ýñ³ ïÝûñÇÝáõÃÛ³Ý ¹»Ù` ë»÷³Ï³Ý ϳåÇï³ÉÁ ïÝûñÇÝ»Éáõ Ñ»ï ϳåí³Í ³ÝѳçáÕ ËáñÑáõñ¹ ï³Éáõ ѳٳñ:  Source/²ÕµÛáõñÁ : Various Press Articles/ î³ñµ»ñ Ñá¹í³ÍÝ»ñ Ù³ÙáõÉÇó

Directors’ & Officers’ Insurance (D&O)/îÝûñ»ÝÝ»ñÇ ¨ ջϳí³ñÝ»ñÇ ³å³Ñáí³·ñáõÃÛáõÝ (îÔ) Directors & Officers Insurance provides indemnity for the Individual Directors and Officers of a company against their legal liability to pay damages to third party claimants as a consequence of the third party having suffered financial loss through the negligent act, error or omission of the Director or Officer in his/her “managerial capacity”./îÝûñ»ÝÝ»ñÇ ¨ ջϳí³ñÝ»ñÇ ³å³Ñáí³·ñáõÃÛáõÝÁ å³ßïå³ÝáõÙ ¿ ÁÝÏ»ñáõÃÛáõÝÝ»ñÇ ³Ýѳï ïÝûñ»ÝÝ»ñÇ ¨ ջϳí³ñÝ»ñÇ Çñ³í³Ï³Ý å³ï³ë˳ݳïíáõÃÛáõÝÁ` ѳïáõó»Éáõ »ññáñ¹ ÏáÕÙÇÝ Çñ»Ýó Ù»Õùáí å³ï׳éí³Í ýÇݳÝë³Ï³Ý ÏáñáõëïÝ»ñÁ` îÔ Ï³é³í³ñ³Ï³Ý ë³ÑÙ³ÝÝ»ñáõÙ: In other words, it is a “Managerial Negligence” cover./²ÛÉ Ëáëù»ñáí` ³ÛÝ §Õ»Ï³í³ñáõÃÛ³Ý ³Ý÷áõÃáõÃ۳ݦ ͳÍÏáõÛà ¿: Third party claimants are likely to be Shareholders, Employees and Governmental bodies./ºññáñ¹ ÏáÕÙÇ Ñ³Ûóáñ¹Ý»ñÁ ϳñáÕ »Ý ÉÇÝ»É µ³ÅÝ»ï»ñ»ñÁ, ³ß˳ï³ÏÇóÝ»ñÁ ¨ å»ï³Ï³Ý Ù³ñÙÇÝÝ»ñÁ:

D & O Losses / îÔ ÏáñëïÇ ¹»åù»ñ  TIG Holdings - USA - est... GBP 100,000,000/ “TIG Holdings” ²ØÜ - £100,000,000 The suit alleges that TIG and two of its officers inflated the share price for a period throughout 1997/98./¸³ï³ñ³ÝÝ ³å³óáõó»É ¿, áñ “TIG”-Ç »ñÏáõ ջϳí³ñÝ»ñ 1997/98 Ãí³Ï³ÝÝ»ñÇÝ ³ÙµáÕçáõÃÛ³Ùµ Ï»ÕÍ»É »Ý ߳ѳµ³ÅÇÝÁ:  Banco di Napoli - Italy - est... GBP 300,000,000/ “Banco di Napoli” Æï³Édz - £300,000,000 The current management of the Banco di Napoli are suing former executives and their auditors, Price Waterhouse, for negligence arising out of bad and doubtful loan losses posted in July 1996./ “Banco di Napoli” ÁÝóóÇÏ Ï³é³í³ñÙ³Ý µ³Å³ÝÙáõÝùÁ ¹³ï»É ¿ Ýáñ ϳé³í³ñÇãÝ»ñÇÝ ¨ Ýñ³Ýó ³áõ¹ÇïáñÝ»ñÇÝ` “Price Waterhouse”-ÇÝ` 1996Ã. ÑáõÉÇëÇÝ ·ñ³Ýóí³Í ϳëϳͻÉÇ å³ñïù»ñÇ å³ï׳éáí:  Sumitomo Corp - Japan - est... GBP 1,000,000,000/ “Sumitomo Corp” Ö³åáÝdz - £1,000,000,000 Shareholder suit vs.. former chairman and 4 former executives - derivative action for lack of supervision which enabled Copper trader to rack up GBP1.6 billion losses in unauthorised dealing and falsifying / documentation./´³ÅÝ»ï»ñÁ ¹³ï³Ï³Ý ѳÛó ¿ Ý»ñϳ۳óñ»É ïÝûñ»ÝÇ ¨ 4 ·áñͳ¹Çñ ïÝûñ»ÝÝ»ñÇ ¹»Ù. í»ñ³ÑëÏÙ³Ý µ³ó³Ï³ÛáõÃÛ³Ý å³ï׳éáí ï»ÕÇ áõÝ»ó³Í ëË³É ·áñÍáÕáõÃÛ³Ý Ñ»ï¨³Ýùáí Ù»ï³ÕÇ ³é¨ïñáí ½µ³ÕíáÕ Ñ³×³Ëáñ¹Á ë»÷³Ï³Ý³óñ»É ¿ Ù»ÏáõÏ»ë ÙÇÉdzñ¹ ýáõÝï ëï»éÉÇÝ·` Çñ³Ï³Ý³óÝ»Éáí ã³ñïáݳ·ñí³Í ·áñͳñù ¨ ˳µ»áõÃÛáõÝ:  Source/²ÕµÛáõñÁ : Various Press Articles/ î³ñµ»ñ Ñá¹í³ÍÝ»ñ Ù³ÙáõÉÇó

The Market / Þáõϳ  Specialist Financial Institution Insurance Market Place. /  Specialist Financial Institution Insurance Market Place. / سëݳ·Çï³óí³Í ýÇݳÝë³Ï³Ý ѳëï³ïáõÃÛáõÝÝ»ñÇ ³å³Ñáí³·ñ³Ï³Ý ßáõϳ:  Lloyd’s & London based Insurance Companies (Approximately 20 Lloyd’s Syndicates & 10 Insurance Companies)/ ”Lloyd’s & London”-Ç Ñ»ï ѳٳï»Õ ·áñÍáÕ ³å³Ñáí³·ñ³Ï³Ý ÁÝÏ»ñáõÃÛáõÝÝ»ñ (Ùáï³íáñ³å»ë 20 ëÇݹÇϳïÝ»ñ ¨ 10 ³å³Ñáí³·ñ³Ï³Ý ÁÝÏ»ñáõÃÛáõÝÝ»ñ):  London Insurance Market Dominates Global Financial Institution insurance arena./ ÈáݹáÝÇ ³å³Ñáí³·ñáõÃÛ³Ï³Ý ßáõÏ³Ý ·»ñ³ÏßéáõÙ ¿ ѳٳß˳ñѳÛÇÝ ýÇݳÝë³Ï³Ý ѳëï³ïáõÃÛáõÝÝ»ñÇ ³å³Ñáí³·ñ³Ï³Ý ¹³ßïáõÙ:  Insurance Companies world-wide outside of London./ ²å³Ñáí³·ñ³Ï³Ý ÁÝÏ»ñáõÃÛáõÝÝ»ñ ³ÙµáÕç ³ß˳ñÑáõÙ` ÈáݹáÝÇó ¹áõñë: