SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): December 30, 2004
Philadelphia Consolidated Holding Corp.
(Exact Name of Registrant as Specified in Charter)
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| Pennsylvania | | 0-22280 | | 23-2202671 |
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(State or Other Jurisdiction
of Incorporation) | | (Commission
File Number) | | (IRS Employer’ Identification No.) |
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| One Bala Plaza, Suite 100, Bala Cynwyd, PA | | 19004 |
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| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (610) 617-7900
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:
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| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Two of the Company’s insurance subsidiaries (Philadelphia Indemnity Insurance Company and Philadelphia Insurance Company) have entered into the following agreements effective January 1, 2005 through December 31, 2005:
| • | A casualty excess of loss clash reinsurance agreement which in the aggregate provides $18.0 million of coverage excess of $2.0 million. The participating reinsurer is Swiss Reinsurance America Corporation. The minimum cost of this reinsurance coverage is approximately $1.3 million and could increase based on the level of subject earned premium. |
| • | An endorsement to the existing per risk excess of loss property reinsurance agreement with General Reinsurance Corporation extending the terrorism portion of the agreement. This endorsement provides $8.0 million of coverage excess of $2.0 million. The cost of this reinsurance coverage is $0.4 million. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | Philadelphia Consolidated Holding Corp.
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| Dated: January 5, 2005 | By: | Craig P. Keller | |
| | | Craig P. Keller | |
| | | Executive Vice President, Secretary, Treasurer and
Chief Financial Officer | |
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