HC-10.2.2

Each approved person should understand that under the Company Law he is personally accountable to the insurance consultants, insurance managers, insurance aggregators or captive insurance firms and the shareholders if he violates his legal duty of loyalty to the insurance consultants, insurance managers, insurance aggregators or captive insurance firms, and that he can be personally sued by the insurance consultants, insurance managers, insurance aggregators or captive insurance firms or the shareholders for such violations.

HC-10.2.3

The duty of loyalty includes a duty not to use property of the insurance consultants, insurance managers, insurance aggregators or captive insurance firms for his personal needs as though it was his own property, not to disclose confidential information of the insurance consultants, insurance managers, insurance aggregators or captive insurance firms or use it for his personal profit, not to take business opportunities of the insurance consultants, insurance managers, insurance aggregators or captive insurance firms for himself, not to compete in business with the insurance consultants, insurance managers, insurance aggregators or captive insurance firms, and to serve the insurance consultants, insurance managers, insurance aggregators or captive insurance firms' interest in any transactions with the company in which he has a personal interest.

HC-10.2.4

For purposes of Paragraph HC-10.2.3, an approved person should be considered to have a "personal interest" in a transaction with the company if:

is a party to the transaction or has a material financial interest in the transaction. (Transactions and interests which are de minimis in value should not be included.)