Fidelity Coverage definition
Examples of Fidelity Coverage in a sentence
Fidelity Coverage - the total amount of coverage provided under the Bond.
Excess Coverage - the amount by which the Fidelity Coverage exceeds the amount of the combined Minimum Coverage Requirements of the Funds suffering Actual Loss.
Actual Loss - the total amount of pecuniary loss suffered by a Fund under circumstances covered by the terms of the Bond without regard to whether the amount of Fidelity Coverage is sufficient to enable such Fund to recover the total amount of such pecuniary loss.
If only one other Fund has suffered Actual Loss, it shall be entitled to recover the amount of the Fidelity Coverage remaining.
If the Fidelity Coverage exceeds or is equal to the amount of the combined Actual Losses of the Funds suffering Actual Loss, then each such Fund shall be entitled to recover the amount of its Actual Loss.
If (i) the amount of Actual Loss suffered by any Fund is less than or equal to its Minimum Coverage Requirement, (ii) the amount of Actual Loss of the other Funds exceeds its or their Minimum Coverage Requirement(s) and (iii) the amount of the combined Actual Losses of the Funds exceeds the Fidelity Coverage, then any Fund which has suffered an amount of Actual Loss less than or equal to its Minimum Coverage Requirement shall be entitled to recover its Actual Loss.
Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................
Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage.......................................
Section 3.13 Maintenance of Hazard Insurance, Errors and Omissions and Fidelity Coverage....................................
Maintenance of Fire Insurance and Omissions and Fidelity Coverage.