Common use of ACCOUNT INSURANCE Clause in Contracts

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 Xxxxx'x 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 xxx.xxxx.xxx or call 000-000-0000. For more information about Lloyd's, please visit xxx.xxxxxx.xxx. Neither coverage protects against losses from any change in the market values of investments.

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 Xxxxx'x 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 xxx.xxxx.xxx xxxx.xxx or call 000-000-0000. For more information about Lloyd's, please visit xxx.xxxxxx.xxxxxxxxx.xxx . Neither coverage protects against losses from any change in the market values of investments.