Gerard Mogan
Assistant Vice President
September 30, 2011
Mr. Matthew McDonald
Marsh USA Inc.
1255 23rd Street NW, Suite 400
Washington, CD 20037
| Re: | ING Family of Funds Unified Board Funds Investment Company Bond Effective Date: October 1, 2011 Policy No. 314-79-82 |
Dear Matt:
We are pleased to provide our Binder Letter for the above captioned account. This Binder is conditioned on receiving the following information within 30 days of binding coverage:
No further subjectivities
| Carrier: | Great American Insurance Company | |
| AM Best’s Rating: | A S&P Rating: A+ | |
| Insured: | ING Family of Funds | |
| Address: | 7337 E. Doubletree Ranch Rd., Suite 100 Scottsdale, AZ 85258 | |
| Term: | October 1, 2011-2012 | |
| Form: | Investment Company Policy | |
| COVERAGE: | $25,000,000 Single Loss Limit – Each and Every Loss Basis | |
| Insuring Agreement |
Single Loss Limit | Deductible | ||
| Basic Agreements (A) Fidelity, incl. Trading |
$25,000,000 | NIL | ||
| (B) On Premises, |
||||
| (C) Transit, & (F) Counterfeit Currency |
$25,000,000 | $25,000 | ||
| (D) Forgery of Alteration |
$25,000,000 | $25,000 | ||
| (E) Securities |
$25,000,000 | $25,000 | ||
| Computer Systems |
$25,000,000 | $25,000 | ||
| Voice Initiated Transfer Fraud |
$25,000,000 | $25,000 | ||
| Telefacsimile Transfer Fraud |
$25,000,000 | $25,000 | ||
| Audit Expense |
$250,000 | $5,000 | ||
| Unauthorized Signatures |
$250,000 | $5,000 | ||
| Uncollectible Items of Deposit |
$250,000 | $5,000 | ||
| Stop Payment Legal Liability |
$250,000 | $5,000 |
Annual Premium - $60,919
Additional Coverages:
Listing of Insureds
90-Day Cancellation, except for non-payment of premium.
Automatic Coverage for Newly created Funds
Claim Reporting Threshold of 50% of Deductible
Computer Systems Fraud rider – All systems utilized by the Named Insureds
Voice Initiated Transfer Fraud – contained in the Computer Systems Fraud Rider – Par. 4
Telefacsimile Transfer Fraud – in Form
Extended Computer Coverages
Worldwide Counterfeit Currency
Amend the Definition of Employee to include ex-employees up to 60 days after termination, except if for reasons of Fraud or Dishonesty
Notice of Cancellation sent to - State of Arkansas, SEC, Midwest Stock Exchange
Amended Discovery – replace “by the Insured” to “by Risk Management Department, Office of the
General Counsel, or Senior Vice President or above of the Insured”
Amended Fidelity Language to provide ‘or” wording, except for Loans or Trading.
Amended Fidelity Language to provide Malicious Destruction of Data
Commission Payable: 16.5%
Matt, please review and call me should you have any questions. Thank you for the order!
Sincerely,
Gerard Mogan
Assistant Vice President
Great American Insurance Company
40 Rector Street, 15th Floor
New York, NY 10006
Phone: 212-513-4013
FAX: 212-513-4015
Efax: 513-768-5187