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Untitled - UNIFI Companies by changcheng2


									                                                      Errors & Omissions Insurance
                                                          Coverage Highlights
Sponsoring Company: The UNIFI Companies - Ameritas Life Insurance Corp., Acacia Life Insurance Company, Union
                       Central Life Insurance Company, and Ameritas Investment Corp.
                                                Program Coverage provided by: Zurich American Insurance Company
                                                              Rated: A (Excellent): XV by A.M. Best
                                       Program Administered by: Brown & Brown of California, Inc. dba CalSurance Associates*
                                                             *dba CalSurance Brokerage (in New York)
                                                             Policy Period: July 1, 2009 to July 1, 2010

OUTLINE OF COVERAGE                                                                           EXCLUSIONS (include but are not limited to)
Limits of Liability Options:                                                                  Claims arising from or involving:
•    $ 1,000,000 Each Claim                                                                    • Situations which have been reported in writing on any previous policies
•    $ 2,000,000 Aggregate Each Agent/Registered Representative                                • Activities prior to Insured’s enrollment as an Insured under this policy if on the date
  or                                                                                             of enrollment the Insured had any knowledge of any activity which could result in a
•    $ 2,000,000 Each Claim                                                                      claim
•    $ 3,000,000 Aggregate Each Agent/Registered Representative                                • Pending or prior litigation
Defense Costs:                                                                                 • Dishonest, fraudulent, criminal acts or intentional acts
Outside the Limits of Liability subject to a limit of $1,000,000                               • Gains in which an Insured was not legally entitled
Claims Administration:                                                                         • Violations of the rules or regulations of FINRA or the SEC
Brown & Brown of California, Inc. dba Lancer Claims Services
                                                                                               • Commingling of, or use of client funds
Deductible (Damages and Defense):
                                                                                               • Investment products partially or totally owned by the Insured
•      $1,000 Each Claim for company sponsored Insurance Products.
•      $2,500 Each Claim for all other covered Insurance Products.                             • Bodily injury, personal injury and/or destruction of property
•      $5,000 Each Claim for Securities processed through and approved by Ameritas             • Discrimination
       Investment Corp.                                                                        • Contractual liability
Named Insured:
Agents of UNIFI Companies - Ameritas Life Insurance Corp., Acacia Life Insurance               • Employee Benefit Plans sponsored by the Insured as an employer
Company, or Union Central Life Insurance Company or Registered Representatives of              • Professional Services performed by the Insured as an accountant, actuary, attorney,
Ameritas Investment Corp. who have paid the premium and whose names are on file                  real estate agent or broker, P&C Agent, TPA, or Named Fiduciary
with the insurer.                                                                              • Insolvency, receivership, bankruptcy, inability or refusal to pay of any organization
*Insureds:                                                                                       in which the Insured has placed coverage or funds of a client (This exclusion will
• Named Certificate Holder                                                                       not apply if the organization in which funds were placed was rated A- or better by
• Heirs/Executors/Administrators/Legal Representatives                                           A.M. Best and was admitted in the applicable jurisdiction at the time of placement)
• For Professional Services of the Named Certificate Holder:                                   • The Insured’s inability or refusal to pay or collect premium, claim or tax monies
      - Named Certificate Holder business entity                                               • Unauthorized use of confidential material
      - Employees of Named Certificate Holder provided they are not contracted
         with another Insurance Company                                                        • Placement of client’s coverage or funds with an unlicensed organization other than
                                                                                                 an eligible surplus lines insurer
Coverage (Claims Made and Reported):
                                                                                               • Sale or servicing of structured settlements
• Acts, errors or omissions arising out of the rendering of or failure to render
  Professional Services                                                                        • Ownership, formation, operation, or administration of a health maintenance
• Personal Injury                                                                                organization, risk retention group, self-insurance program, or purchasing group
• Wrongful Supervision or Termination                                                          • Placement of coverage with Multiple Employer Welfare Arrangements
Retroactive Date:                                                                              • Losses allegedly sustained by fluctuation in market value of any securities
Life, annuities, variable products and mutual funds:                                           • Securities (other than variable annuities and variable life insurance) not placed or
The earlier of the date of first continuous contract with UNIFI Companies – Ameritas             approved by Ameritas Investment Corp.
Life Insurance Corp., Acacia Life Insurance Company and Union Central Life Insurance           • Activities as a market maker for any securities
Company, or the date of first continuous claims made E&O coverage.
                                                                                               • Any securities prices under $5.00 at the time of purchase
Securities products:                                                                           • Promissory notes, viatical settlements, commodities, commodity future contracts,
The date of contract with Ameritas Investment Corp. and/or Carillon Investments, Inc.            option contracts, junk bonds or high yield bonds, however viaticals approved by
and/or The Advisors Group.                                                                       Union Central, Ameritas & Carillon are subject to a $500,000 sublimit.
Professional Services Includes:                                                                • Selling away, ETS/ATM Payphones, or Cost of Corrections/Trading Errors
Insurance Products and Series 6
                                                                                               • Claims brought by, or on behalf of, an Insured, any insurance company or
   Life Insurance                                 Annuities
                                                                                                 broker/dealer, any insurance agent or broker, anyone that is not a client of the
   Long Term Care Insurance                       Mutual Funds
                                                                                                 Insured, any enterprise that owns or controls the Insured or that is owned or
   Accident and Health                            Disability Income Insurance
                                                                                                 controlled by the Insured or any governmental official or agency
   Employee Benefit Plans                         Pension/Profit Sharing Plans
   Services as a Notary Public                    Approved Life Settlements                    • Debentures not approved by Ameritas Investment Corp
   Advice and consultation solely in connection with covered products                          • *Infringement of patent, trademark, copyright, trademark, service mark, trade dress
Insurance Products and Securities (Series 7)                                                     or trade name, unfair competition or piracy, theft or wrongful taking of concepts
   All of the above plus:                                                                        including using another’s advertising ideas or other intellectual property
   Securities placed through Ameritas Investment Corp. including, but not limited to:          • *Discretionary Authority
             Stocks                           Bonds                                            • *Ownership, formation, operation, administration, advice, referral, recommendation
             Unit Investment Trusts           Pension/Profit Sharing Plans                       or placement of coverage with any Self Insured health maintenance organization,
             Mutual Funds                                                                        Self Insured preferred provider organization, risk retention group, self insurance
   Financial planning                                                                            program or purchasing group
   *Please note the carrier has changed for this renewal. While the coverage is                • *Unlawful use of telephone or electronic mail, internet, computer, facsimile
  substantially similar and we’ve noted some changed or added wording with an                    machine or other communication or transmission device; or
  asterisk, you should thoroughly review this document.                                        • *Unlawful use, collection, dissemination, disclosure or redisclosure of personal
                                                                                                 information in any manner by an “Insured” or on behalf of any “Insured”

   This information contained in this brochure is for illustrative purposes only. It is intended to provide a general overview of the policy described. Only the insurance policy can give
   actual terms, coverages, amounts, conditions and exclusions. A copy of the policy is available upon request.
How are Prior Acts addressed?
Coverage is on a “Claims Made and Reported” basis. Claims must be made against you and reported to Lancer Claims Services in writing during the Policy
Period for the coverage to be triggered. “Prior Acts” coverage is provided as long as this requirement is satisfied and in addition:
         A. You had no knowledge of any claims or potential claims as of the effective date of the policy;
         B. You have no other coverage for any such claim;
         C. The act or personal injury occurred after the retroactive date.
Will I be covered for life and A&H companies I do business with outside of the Sponsoring Life Companies?
Yes, as long as the act, error or omission or Personal Injury occurred after the retroactive date. However, be aware that the deductible for outside covered
insurance products is $2,500 each claim.
Is the sale and/or servicing of property/casualty products covered?
What if my contract with the Sponsoring Life Company is terminated during the policy period?
Coverage will cease as of that date.
Extended Reporting Period in the Event of an Insured Agent’sContract Termination (Please refer to the policy for specific terms & conditions):
         • Automatic ninety (90) days all covered products and services;
         • Automatic one (1) year, limited to claims solely involving products issued by the “Sponsoring” company. Coverage will not apply if the agent’s
            contract was terminated for disciplinary reasons;
         • Automatic two (2) years in the event of disability, retirement or death for all covered products and services.
The above Automatic Extended Reporting Periods will not apply if agent has any valid & collectable insurance, which applies to any loss or defense costs.
Options to purchase 3 years, 5 years or unlimited are available to insured agents who become retired, disabled or deceased during the policy period at
respective charges of 200%, 300% or 400% of their last annual premium charge. Payment must be paid within 60 days of termination. These optional
Extended Reporting Periods will be in addition to any Automatic Extended Reporting Period
I currently have E&O coverage elsewhere. What should I do prior to my enrollment in this E&O program about incidents of which I am aware that
could give rise to a claim?
Most E&O policies include an “Awareness Provision” similar to that described below. Therefore, we strongly suggest that you report any incident which you
feel could give rise to an E&O claim to your current carrier. Failure to do so could leave you without coverage for such claims if it is discovered that you had
knowledge of such an incident prior to your enrollment in this E&O Program.
What is a “Claim”, and what does “Claims Made and Reported” mean?
A “Claim” is any written demand for monetary damages received by an Insured, a Claim is “made” when the Insured first learns of it, a Claim is “reported”
by giving written notice of it to Lancer Claims Services. A Claim must be “made and reported” during the policy period. The policy requires that written
notice of claims be provided as soon as practicable during the Policy Period.
For your protection, the policy also includes an “Awareness Provision.” This allows you to provide written notice of circumstances that could reasonably be
expected to give rise to a claim. Then if a claim subsequently arises out of the described circumstances, it will be considered to be a claim during the Policy
Period in which the written notice was received. Responsibility for such claims will rest with the carrier affording coverage during that Policy Period regard-
less of any future change in carrier.
How do I report a claim?
The agent has the following duties in the event of a claim or suit:
     1.    As soon as practicable, give to the Insurance Company written notice.
     2.    Immediately forward every demand, notice, summons or other process received to:
                       Lancer Claims Services, Inc.
                       681 S. Parker St., Suite 200
                       Orange, CA 92868
                       (800) 821-0540
     3.    Cooperate with the Insurance Company and do whatever it takes to secure and effect any rights of indemnity, contribution or appointment.
     4.    The Insured cannot demand or agree to arbitration of any claim nor make any payment, admit any liability, settle any claims, assume any obligation
           or incur any expenses without the written consent of the Insurance Company.

                                                     Brown & Brown of California, Inc. dba CalSurance Associates*
                                                              *dba CalSurance Brokerage (in New York)
                                                               P.O. Box 7048, Orange, CA 92863-7048
                                                           Telephone: (800) 745-7189 Fax: (800) 607-6875
                                                                Web Address:
                                                      Customer Service Hours: Monday-Friday 7 a.m. – 5 p.m. PST
                                                                   Over 30 Years of Proven Success
                                                                  Over $100 million in annual sales

   This information obtained from A.M. Best dated 10/19/2006 is not in any way CalSurance’s warranty or guaranty of the financial stability of the
   insured in question, and the information is current only as of the date of the publication.”
   This document is a summary of the coverage provided. All statements contained herein are subject to all of the Terms, Conditions and Exclusions the
   actual policy. Policy available online at: or by calling 800-745-7189.

   By applying for this insurance, you are applying for membership in the Financial Sales Professionals Risk Purchasing Group, a group formed and
   operating pursuant to the Liability Risk Retention Act of 1986 (15 USC 3901 et seq.) There is no additional charge for membership.

   This information contained in this brochure is for illustrative purposes only. It is intended to provide a general overview of the policy described. Only the insurance policy can give
   actual terms, coverages, amounts, conditions and exclusions. A copy of the policy is available upon request.
                       Errors & Omissions Waiver of Coverage Request
                                    UNIFI Companies
  Ameritas Life Insurance Corp., Acacia Life Insurance Company, The Union Central Life Insurance
                             Company, and Ameritas Investment Corp.

I decline coverage in the UNIFI Companies sponsored plan and elect to maintain outside Errors and
Omissions coverage.

Individuals requesting a waiver of coverage must submit evidence of coverage documenting a minimum of
$1,000,000 per claim/$1,000,000 aggregate in coverage. Evidence of coverage is a Certificate of Insurance.
If a Certificate is not yet available, please provide a copy of the completed Enrollment Form and the premium
check or credit card bill, followed by the Certificate of Insurance when available. Outside coverage is subject
to Home Office review and approval, and approval will not be final until a Certificate of Insurance is
received. In some cases, outside coverage may not meet the UNIFI requirement, and your request for waiver
of coverage could be denied as a result.

All Ameritas Investment Corp. (AIC) registered representatives are required to carry and maintain E&O
coverage through the UNIFI sponsored plan. Registered representatives cannot waive this coverage.

Name (Please Print):

Agent Number:


City:                                                     State:            Zip Code:

Phone:                                       Email:

Alternate Coverage Information:

Current Insurer:

Limits of Liability:

Expiration Date:


Please fax or mail this form with a copy of your Errors and Omissions evidence of coverage to:

                                 The UNIFI Companies
                                 Individual Licensing
                                 5900 O Street
                                 Lincoln, NE 68510-2234
                                 Fax: (402) 467-7337

If you have any questions, please contact Individual Licensing at (800) 927-7737, ext. 87574.

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