Laserfiche WebLink
Exceptions <br />Page 6, 14, 15, Insurance <br />As financial institutions, the Bank and its wholly owned subsidiaries are required to maintain <br />minimum regulatory capital levels to fund potential losses stemming from credit, market and <br />operational risks. In addition to maintaining strong capital positions, we also manage a broad <br />portfolio of insurance programs commensurate with the scope of business activities and operations <br />typical to a financial institution of our size and that also meets statutory requirements. Included <br />within our portfolio of insurance programs we maintain the following types of traditional coverages: <br />Comprehensive General Liability for bodily injury and property damage including personal <br />injury, blanket contractual and products and completed operations <br />Professional Liability covering liability for financial loss stemming from errors, omissions or <br />negligence in the performance of professional services <br />Workers Compensation or alternative plans or coverages permitted in the forms required <br />under the applicable jurisdictional regulations <br />Comprehensive Crime and Fidelity including Computer Crime covering losses that the <br />Bank might incur as a result of fraudulent or dishonest acts of external parties or Bank <br />employees committed against the Bank <br />All Risk Property Insurance covering the Bank's premises, equipment and contents utilized <br />in the execution of its operations <br />Within our insurance programs the Bank may deem it appropriate to self-insure components at <br />levels deemed acceptable by the organization and that is well within the capacity of the firm to <br />absorb the risk. All insurance that is retained must be provided by insurers that meet minimum <br />claims paying capability acceptable to the Bank. <br />Pg 6- 1.24 TD will Notify of cancellation only, we do not notify of lapse or material <br />modifications, which is undefined. <br />Pg14- 2.8.4 TD will give 30 days notice of cancelation only, we do not provide notice of <br />'material change'. The City will be named as Additional Insured on Liability policies only. <br />Pg 15- 2.8.7 TD will provide notice of cancellation, we do not provide notice of non-renewal <br />or reduction in coverage/limits. TD will not grant the Offerer authority to approve our <br />deductibles, retentions, limits, or any coverage types. We will not procure any bonds at the <br />request of the Offerer as it pertains to any coverage required. Our limits, deductibles and <br />retentions are reasonable and customary for a Financial Institution of our size and strength. <br />TD can meet the balance of the requirements. <br />Page 6,7,11, Subcontracting <br />TD’s business needs include dealings with third parties that provide services to the Bank in <br />connection with providing Services to its customers. To the best of its knowledge, TD does not <br />believe any of these third parties qualify as subcontractors. <br />Page 9, Audit/Inspection <br />TD’s financial and accounting records are maintained in accordance with GAAP. Other bank <br />records are maintained in accordance with industry standard banking practices and applicable law. <br />Review and audit of bank records may be made available subject to bank policy and to various <br />confidentiality, privacy, security, and other banking laws and regulations that may otherwise restrict <br />or prohibit access to TD’s financial and banking records by third parties. <br />Proposed by: TD Bank, N.A.Page 93 <br /> <br />