Persons entitled
- The Trustee, Lloyd's, the Agent, All Policy Holders and Certain Other Persons or Bodies(As Further Defined on Form M395)
Amount secured
(A) the payment of losses under: (I) any contract or policy of reinsurance issued by one or more members of lloyd's to a ceding insurer domiciled in a state, district, territory, commonwealth or possession of the united states providing reinsurance with respect to property or risks situated in a state, district, territory, commonwealth or possession of the united states provided that, with the exception of such contracts or policies attaching on or prior to 15 november 1995 underwritten under any binding authority incepting prior to 1 august 1995 and subject to (ii) below, such contracts or policies shall not include any contract or policy of reinsurance incepting on or after 1 august 1995 which is underwritten by members on or after that date, or (iii) any contract or policy which satisfies the definition of an american reinsurance policy in lloyd's united states situs credit for reinsurance trust deed (as amended from time to time), (an "american reinsurance policy"); (b) returns of unearned premium under an american reinsurance policy; (c) all expenditures and fees of the trustee (as defined in the trust deed and being, as at the date thereof, citibank N.A. of 111 wall street, new york, U.S.a); (d) repayment of cash or securities advanced by the trustee to the trust held under the provisions of the trust deed; (e) certain transfers by the trustee to other trust funds or to the chief regulatory officer for insurance of the state of new york or other designated receiver, and for securing the other amounts and obligations referred to in the trust deed
Short particulars
The trust fund, cash in us currency or specifically designated readily marketable securities substituted by current contributors at any time for any cash or assets then forming part of the trust fund. Further contributions to the trust fund received by the trustee from time to time and held subject to the terms and conditions of the trust deed. (See form M395 for further detail.