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EXHIBIT 10.27(3)
AUTOMOBILE THIRD PARTY LIABILITY AND PHYSICAL DAMAGE
QUOTA SHARE REINSURANCE CONTRACT
issued to
IGF Insurance Company
Des Moines, Iowa
(hereinafter referred to as the "Company")
by
Pafco General Insurance Company
Indianapolis, Indiana
(hereinafter referred to as the "Reinsurer")
ARTICLE I - BUSINESS REINSURED
By this Contract the Reinsurer agrees to reinsure the liability which may
accrue to the Company under its contracts, agreements and binders of insurance
(hereinafter called "policies") which are inforce, issued or renewed on or
after the effective date hereof for Private Passenger Automobile and Motorcycle
Third Party Bodily Injury and Property Damage Liability including medical
payments, uninsured and underinsured motorists, and loss arising from no-fault
coverage as mandated by law which are underwritten by Pafco General Insurance
Company and classified as Automobile Liability business and to include
Automobile Physical Damage business.
ARTICLE II - COMMENCEMENT AND TERMINATION
A. This Contract shall become effective on 12:01 A.M. January 1, 1996,
with respect to losses occurring on in-force, new and renewal policies
and shall continue in force thereafter until terminated.
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B. Either party may terminate this Contract at any January 1 or July 1 by
giving the other party not less than 90 days prior notice in writing.
C. Upon termination, the Company may elect a cut-off or run-off basis.
1) "Run-off basis" - In the event of termination on a run-off
basis, the Reinsurer shall remain liable for
occurrences arising out of covered policies in force at the
date of cancellation until expiration, cancellation or next
renewal of such policies, but in no case shall this reinsurance
be extended for a period longer than 12 months plus odd time
after the date of cancellation of this Contract.
2) "Cut-off basis" - In the event of termination on a cut-off
basis the Reinsurer shall have no liability with
respect to loss occurrences happening after the effective time
and date of cancellation.
If the cut-off basis is elected, upon termination of this
reinsurance, the Reinsurers shall return the unearned
premium, if any, calculated on the monthly pro-rata basis, less
the appropriate ceding commission as provided for in Article
XII.
D. Should at any time the Reinsurer or the Company:
1) Be 100% reinsured without the previous written consent of the
other party;
2) Default in payment due under the terms of this Contract if not
rendered within 15 days; this provision shall not apply to any
items that may be in dispute;
3) Have a reduction of 20% or more of the paid-in capital for any
reason whatsoever;
4) Have proceedings instituted or filed against them by any
insurance regulatory authority for bankruptcy,
rehabilitation, conservation, liquidation or dissolution;
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5) Reach mutual agreement to do so;
this Contract may be terminated by either the Reinsurer or the
Company upon giving 30 days notice of cancellation in
writing by certified mail to the other party. In the event of
termination under the provision of this paragraph the Reinsurer
shall remain liable for losses arising from business written
prior to the effective time and date of cancellation, but shall
have no liability with respect to business written after that
time and date.
E. At the Company's request, this Contract may be commuted for any
Accident Year at terms To Be Agreed.
ARTICLE III - TERRITORY
The Coverage hereunder applies to policies written and providing coverage
within the United States of America except for such incidental foreign exposure
as may be covered under the territorial provisions of these policies.
ARTICLE IV - EXCLUSIONS
A) Excess Coverage, including coverage written over self insured
retentions or deductible amounts greater than $5,000.
B) Assumed reinsurance.
C) Nuclear Incident per the Nuclear Incident Exclusion Clauses attached
hereto and made a part of this Contract.
D) Pools, Associations or Syndicates, except losses from Assigned Risk
Plans or similar plans are not excluded.
E) Business classified by the Company as commercial, or normally
classified and rated as such by the applicable Insurance
Services Office Manual. However, this exclusion shall not apply to
Artisans' vehicles as defined in the underwriting guidelines.
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ARTICLE V - REINSURANCE LIMITS
A) The Company shall cede and the Reinsurer shall accept as Quota Share
reinsurance 100% of the Company's limit of liability as
specified in paragraph C of this Article.
B) Should any loss covered hereunder result in an Extra Contractual
Obligation or Excess of Policy Limit judgment, then the
combination of policy loss and Extra Contractual Obligation or Excess
of Policy Limit judgment and Loss Adjustment Expense shall not exceed
%500,000.
An Extra Contractual Obligation or Excess of Policy Limit loss shall be
covered hereunder at the proportionate share of 100% of any such loss.
C) For the purpose of determining the liability of the Reinsurer the
limits of liability of the Company with respect to any one
policy shall be deemed not to exceed:
1) Third Party bodily injury not to exceed
or death as respects $100,000 each person
automobile and motorcycle $300,000 each occurrence
liability including first
aid medical expense payments
supplementary to bodily injury
liability, inclusive of PIP
2) Third party property not to exceed
damage as respects $50,000 each occurrence
automobile and motorcycle
liability
3) Automobile Physical Damage not to exceed
$50,000 per vehicle
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AUTOMOBILE QUOTA SHARE REINSURANCE
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ARTICLE VI - OTHER REINSURANCE
The Company maintains Contingency Excess of Loss Reinsurance of $850,000 excess
of $200,000 each and every occurrence which inures to the benefit of this
Contract whether collectible or not. The Reinsurer shall contribute their
proportionate share of the cost of such Contingency Excess of Loss Cover.
ARTICLE VII - DEFINITIONS
A) "Policies" shall mean all contracts, policies and binders of insurance.
B) "Occurrence" shall mean each accident or occurrence, or
series of accidents or occurrences, arising out of one event.
C) "Loss" shall mean the sum actually paid by the Company in
settlement of loss or liability after making deductions of all
salvages, recoveries and all amounts recoverable, whether collected or
not, from other reinsurances.
D) "Loss Adjustment Expenses" as used in this Contract will mean all
allocated expenses incurred by the Company in the
investigation, appraisal, adjustment, litigation and/or defense of
claims under policies reinsured hereunder, including court costs,
interest accrued after final verdicts, judgments or awards, first aid
medical expense payments supplementary to bodily injury liability, but
excluding internal office expenses, salaries, per diem, and other
remuneration of regular Company employees, and sums paid to attorneys
as retainers. Such expense, where incurred in connection with claims
involving this reinsured policies, will be apportioned between the
Company and the Reinsurers in proportion to their respective interests
as finally determined. Loss Adjustment Expenses shall be in addition
to the limits hereunder in the same proportion as the loss paid
hereunder, except as stipulated in Article V, Paragraph B.
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E) "Gross Net Written Premium Income" (GNWPI) shall mean the gross
premium and additional premium written for the business reinsured
hereunder, less cancellation and return premiums, and less premiums
paid for other reinsurance which inures to the benefit of this
Contract, if any.
F) "Gross Net Earned Premium Income" (GNEPI) shall mean the gross premium
and additional premium earned for business reinsured hereunder,
less cancellation and return premiums, and less ceded earned premiums
paid for other reinsurance which inures to the benefit of this
Contract, if any. GNEPI subject hereunder shall be the unearned
premium at the beginning of the accident year, plus the written premium
during the accident year, less the unearned premium at the end of the
accident year.
G) "Loss in Excess of Policy Limits" as used herein shall mean any amount
paid or payable by the Company in excess of its policy limits,
but otherwise within the terms of its policy, as a result of an action
against it by its insured or its insured's assignee to recover damages
the insured is legally obligated to pay to a third party claimant
because of the Company's alleged or actual negligence or bad faith in
rejecting a settlement within policy limits, or in discharging its duty
to defend or prepare the defense in the trial of an action against its
insured, or in discharging its duty to prepare or prosecute an appeal
consequent upon such an action.
H) "Extra Contractual Obligations" as used herein shall mean any punitive,
exemplary, compensatory or consequential damages paid or
payable by the Company as a result of an action against it by its
insured or its insured's assignee, which alleges negligence or bad
faith on the part of the Company in handling a claim under an original
policy subject to this Contract, it being understood that Extra
Contractual Obligations and/or Loss in Excess of Policy Limits payable
by the Company under the terms of its original policies shall be
covered as contractual losses hereunder. An Extra Contractual
Obligation shall be deemed to have occurred on the same date as the
loss covered or alleged to be covered under the original policy.
Notwithstanding anything stated herein, this Contract shall not apply
to any Extra Contractual Obligation incurred by the
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Company as a result of fraudulent and/or criminal act by any officer or
director of the Company acting individually or collectively or
in collusion with any individual or corporation or any other
organization or party involved in the presentation, defense or
settlement of any claim covered hereunder.
Coverage provided by the reinsurance afforded hereunder as regards
paragraphs (G) and (H) above shall be for the proportionate
share as provided by this Contract of 100% of any Excess of Policy
Limits or Extra Contractual Obligation award as defined in Article V,
paragraph B.
I) "Incurred Loss" shall mean the paid loss and loss adjustment expense
plus the outstanding loss and loss adjustment expense for each
accident year.
ARTICLE VIII - REPORTS AND REMITTANCES
A) The ceding Company shall render a monthly report within 45 days of the
close of each month showing the:
a) Ceded Gross Net Written Premium; less
b) Provisional Ceding Commission; less
c) Ceded Loss and Loss Adjustment Expense paid; plus
d) Preliminary loss recoveries, if any.
B) Any amounts shown to be due either party, shall be remitted monthly
within 60 days after the close of the month.
C) Each monthly report shall include a statement of the reserves for
Unearned Premium and Outstanding Losses and Loss Adjustment Expense.
ARTICLE IX - CASH LOSSES
It is understood that when the amount of loss paid by the Company under
policies subject to this Contract as a result of any one occurrence exceeds
$50,000, the Reinsurer's share will, at the option and demand of the Company,
be paid by special remittance immediately, but the Reinsurer shall have the
right to deduct from such special remittance any overdue balance due the
Reinsurer by
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the Company. Any special remittance made pursuant to this provision is to be
credited to the Reinsurer in the account in which the paid loss appears.
ARTICLE X - SALVAGE AND SUBROGATION
The Reinsurer shall be credited with its proportionate share of salvage or
subrogation recoveries (i.e., reimbursement obtained or recovery made by the
Company, less the actual cost, excluding salaries of officials and employees of
the Company, of obtaining such reimbursement or making such recovery) on
account of claims and settlements involving reinsurance hereunder.
ARTICLE XI - PREMIUM
The Company shall cede to the Reinsurers 100% of the Gross Net Written Premium
Income, plus 100% of the Unearned Premium at the beginning of each accident
year for the business covered hereunder less a ceding commission.
ARTICLE XII - CEDING COMMISSION
The Reinsurer shall allow the Company a provisional ceding commission of 30.5%
plus premium taxes on the Gross Net Written Premium ceded as set forth herein.
The commission allowance shall cover premium taxes of all kinds, local board
assessments, and all other expenses and charges whatsoever based upon premium
(except losses and loss adjustment expenses) ceded under this Contract.
The term "losses incurred" for the accident year shall be understood to mean
the loss and loss adjustment expense paid by the Reinsurer (less salvages,
subrogation and recoveries received) on losses ascribed to the accident year,
plus loss and loss adjustment expense reserves outstanding on the losses
ascribed to the accident year.
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AUTOMOBILE QUOTA SHARE REINSURANCE
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ARTICLE XIII - LIABILITY OF THE REINSURER
The liability of the Reinsurer shall coincide with that of the Company,
provided same is within the terms and conditions of the original policies of
insurance and within the terms of this Contract. The liability of the
Reinsurer under this Contract or any endorsements attached hereto shall in no
event exceed the limits specified herein as defined under Article V paragraph A
and modified by paragraph B, nor be extended to cover any risks, perils or
classes of insurance generally or specifically excluded herein.
Nothing herein shall in any manner create any obligations or establish any
rights against the Reinsurer in favor of any third party or any persons not
parties to this Contract.
ARTICLE XIV - OFFSET
The Company or the Reinsurer shall have, and may exercise at any time and from
time to time, the right to offset any balance or balances, whether on account
of premiums or on account of losses or otherwise, due from one party to the
other under the terms of this Contract. However, in the event of the
insolvency of any party hereto, offset shall only be allowed in accordance with
the statutes and/or regulations of the state having jurisdiction over
insolvency.
ARTICLE XV - ACCESS TO RECORDS
The Reinsurer, by its duly appointed representatives, shall have the right at
any reasonable time to examine all papers in the possession of the Company
referring to business effected hereunder.
As soon as possible after the end of the calendar year, the Company shall
furnish the Reinsurer all statistical information necessary for the completion
of the Annual Statement in a form and with sufficient detail as to be
acceptable to the Reinsurer.
ARTICLE XVI - NET RETAINED LINES
This Contract applies only to that portion of any insurances covered by this
Contract which the Company retains net for its own account. In calculating the
amount of any loss hereunder only loss or losses in respect of that portion of
any insurance which the
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AUTOMOBILE QUOTA SHARE REINSURANCE
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Company retains net for its own account shall be included. It being understood
and agreed that the amount of the Reinsurer's liability hereunder in respect of
any loss or losses shall not be increased by reason of the inability of the
Company to collect from any other reinsurers, whether specific or general, any
amounts which may have become due from them, whether such inability arises from
the insolvency of such other reinsurers or otherwise.
ARTICLE XVII - ERRORS AND OMISSIONS
A) Inadvertent delays, errors or omissions made in connection with this
Contract or any transaction hereunder shall not relieve either party
from any liability which would have attached had such delay, error or
omission not occurred, provided always that the error or omission is
rectified as soon as possible after discovery by management personnel of
the Company, but in no event shall either be bound by such delay, error
or omission for a period longer than thirty days after they receive
knowledge thereof.
B) The liability of the Reinsurer under this Contract or any exhibits or
endorsements attached thereto shall in no event exceed the limits
specified therein, nor be extended to cover any risks, perils, or
classes of insurance generally or specifically excluded therein.
C) Reinsurance which is reported but not covered by this Contract shall
obligate the Reinsurer only to return the premiums paid for such
reinsurance.
ARTICLE XVIII - CURRENCY
All retention and limits hereunder are expressed in United States dollars and
all premium and loss payments shall be made in United States currency. For the
purposes of this Contract amounts paid or received by the Company in any other
currency shall be converted into United States dollars at the rates of exchange
at which such transactions are converted on the books of the Company.
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ARTICLE XIX - TAXES
In consideration of the terms under which this Contract is issued, the Company
will not claim a deduction in respect of the premium hereon when making tax
returns, other than income or profits tax return, to any state or territory of
the United States of America or the District of Columbia.
ARTICLE XX - FEDERAL EXCISE TAX
If the Reinsurer is subject to the Federal Excise Tax, the Reinsurer agrees to
allow, for the purposes of paying the Tax, up to 1% of the premium payable
hereon to the extent such premium is subject to the Tax. In the event of any
return premium becoming due hereunder, the Reinsurer will deduct from the
amount of the return premium the same percentage as it allowed, and the Company
or its agent should take steps to recover the Tax from the U.S. Government.
ARTICLE XXI - UNAUTHORIZED REINSURERS
A) If the Reinsurer is unauthorized in any state of the United States of
America or the District of Columbia, the Reinsurer agrees to fund its
share of the Company's ceded unearned premium, outstanding loss and loss
adjustment expense reserves (including incurred but not reported loss
reserves) by:
1. Clean, irrevocable and unconditional Letters of Credit; and/or
2. Escrow accounts for the benefit of the Company; and/or
3. Cash advances;
if, without such funding, a penalty would accrue to the Company on any
financial statement it is required to file with the insurance regulatory
authorities involved. The Reinsurer, at its sole option, may fund in
other than cash if its method of funding is acceptable to the insurance
regulatory authorities involved.
B) With regard to funding in whole or in part by Letters of Credit, it is
agreed that each Letter of Credit will be issued
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for a term of at least one year and will include an "evergreen clause",
which automatically extends the term for at least one additional year at
each expiration date. The Company and the Reinsurer further agree,
notwithstanding anything to the contrary in this Contract, that said
Letters of Credit may be drawn upon by the Company or its successors in
interest at any time, without diminution because of the insolvency of
the Company or the Reinsurer, but only for one or more of the following
purposes:
1. To reimburse itself for the Reinsurer's share of unearned
premium and/or losses and/or loss adjustment expenses paid
under the terms of original policies reinsured hereunder, unless
paid in cash by the Reinsurer;
2. To reimburse itself for the Reinsurer's share of any other
amounts claimed to be due hereunder, unless paid in cash by the
Reinsurer;
3. To fund a cash account in an amount equal to the Reinsurer's
share of any ceded unearned premium and/or loss and loss
adjustment expense reserves (including incurred but not reported
loss reserves) funded by means of a Letter of Credit which is
under non-renewal notice, if said Letter of Credit has not been
renewed or replaced by the Reinsurer 10 days prior to its
expiration date;
4. To refund to the Reinsurer any sum in excess of the actual
amount required to fund the Reinsurer's share of the Company's
ceded unearned premium and/or loss and loss adjustment expense
reserves (including incurred but not reported loss reserves), if
so requested by the Reinsurer.
In the event the amount drawn by the Company on any Letter of Credit is in
excess of the actual amount required for B(1) or B(3), or in the case of B(2),
the actual amount determined to be due, the Company shall promptly return to
the Reinsurer the excess amount so drawn.
The Reinsurers acknowledge that the Company is responsible to its regulated
jurisdiction to ceded reserves through licensed reinsurers or post security as
required in the appropriate regulated jurisdiction for which it is operating.
Should the Reinsurer not be
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accepted as licensed in any jurisdiction and the Company is required to post
security in accordance with the business written under this Contract, the
Reinsurer shall, upon 30 days notice, post security for reserves under this
Contract. The reserves shall be posted in accordance with the requirements of
the jurisdiction regulations. Should the Reinsurer fail to post the necessary
security for reserves within the 30 days of demand by the Company, then the
Company will post the necessary reserves and charge the Reinsurer and interest
expense of 1% per month on the amount of reserves posted on behalf of the
Reinsurer's share.
ARTICLE XXII - INSOLVENCY
A) In the event of the insolvency of the Company, this reinsurance shall be
payable directly to the Company or to its liquidator, receiver,
conservator or statutory successor on the basis of the liability of the
Company without diminution because of the insolvency of the Company or
because the liquidator, receiver, conservator or statutory successor of
the Company has failed to pay all or a portion of any claim. It is
agreed, however, that the liquidator, receiver, conservator or statutory
successor of the Company shall give written notice to the Reinsurer of
the pendency of a claim against the Company indicating the original
policy reinsured which claim would involve a possible liability on the
part of the Reinsurer within a reasonable time after such claim is filed
in the conservation or liquidation proceeding or in the receivership,
and that during the pendency of such claim, the Reinsurer may
investigate such claim and interpose, at its own expense, in the
proceeding where such claim is to be adjudicated, any defense or
defenses that it may deem available to the Company or its liquidator,
receiver, conservator or statutory successor. The expense thus incurred
by the Reinsurer shall be chargeable, subject to the approval of the
Court, against the Company as apart of the expense of conservation or
liquidation to the extent of a pro-rata share of benefit which may
accrue to the Company solely as a result of the defense undertaken by
the reinsurer.
B) Where two or more reinsurers are involved in the same claim and a
majority in interest elect to interpose defense to such claim, the
expense shall be apportioned in accordance with the
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terms of this Contract as though such expense had been incurred by the
Company.
C) It is further understood and agreed that, in the event of the
insolvency of the Company, the reinsurance under this Contract shall be
payable directly by the Reinsurer to the Company or to its liquidator,
receiver or statutory successor, except as provided by Section 4118(a)
of the New York Insurance Law or except (a) where this Contract
specifically provides another payee of such reinsurance in the event of
the insolvency of the Company or (b) where the Reinsurer with consent
of the direct insured or insureds has assumed such original contract
obligation of the Company as direct obligations of the Reinsurer to the
payees under such contracts and in substitution for the obligations of
the Company to such payees.
ARTICLE XXIII - ARBITRATION
A) As a condition precedent to any right of action hereunder, in the event
of any dispute or difference of opinion hereafter arising with respect
to this Contract, it is hereby mutually agreed that such dispute or
difference of opinion shall be submitted to arbitration. One Arbiter
shall be chosen by the Company, the other by the Reinsurer, and an
Umpire shall be chosen by the two Arbiters before they enter upon
arbitration, all of whom shall be active or retired disinterested
executive officers of insurance or reinsurance companies. In the event
that either party should fail to choose an Arbiter within 30 days
following a written request by the other party to do so, the
requesting party may choose two Arbiters who shall in turn choose an
Umpire before entering upon arbitration. If the two parties fail to
agree upon the selection of an Umpire within 30 days following their
appointment, each Arbiter shall nominate three candidates within 10
days thereafter, two of whom the other shall decline, and the decision
shall be made drawing lots.
B) Each party shall present its case to the Arbiters within 30 days
following the date of appointment of the Umpire. The Arbiters shall
consider this Contract as an honorable engagement rather than merely
as a legal obligation and they are relieved of all judicial
formalities and may abstain from
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following the strict rules of law. The decision of the Arbiters shall be
final and binding on both parties, but failing to agree, they shall call in
the Umpire and the decision of the majority shall be final and binding upon
both parties. Judgement upon the final decision of the Arbiters may be
entered in any court of competent jurisdiction.
C) If more than one reinsurer is involved in the same dispute, all such
reinsurers shall constitute and act as one party for purposes of this
Article and communications shall be made by the Company to each of the
reinsurers constituting one party, provided, however, that nothing herein
shall impair the rights of such reinsurers to assert several, rather than
joint, defenses or claims, nor be construed as changing the liability of
the reinsurers participating under the terms of this Contract from several
to joint.
D) Each party shall bear the expense of its own Arbiter, and shall jointly and
equally bear with the other the expense of the Umpire and of the
arbitration. In the event that the two Arbiters are chosen by one party,
as above provided, the expense of the Arbiters, the Umpire and the
arbitration shall be equally divided between the two parties.
E) Any arbitration proceedings shall take place either at the location of the
Company's principal office or at a location mutually agreed upon by the
parties to this Contract, but notwithstanding the location of the
arbitration, all proceedings pursuant hereto shall be governed by the law
of the state in which the Company has its principal office.
F) Cancellation of this Contract shall not invalidate this arbitration
provision in respect of disputes arising after cancellation but resulting
from actions taken or transactions made during any period during which this
Contract was in effect.
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IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
representatives have executed this Agreement as of the dates undermentioned:
At Indianapolis, Indiana this 29th day of April, 1996.
IGF INSURANCE COMPANY
By: /s/ Alan G. Symons
-------------------------------
At Indianapolis, Indiana this 29th day of April, 1996
PAFCO GENERAL INSURANCE COMPANY
By: /s/ Donald J. Goodenow
-------------------------------
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U.S.A.
NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-REINSURANCE
(Approved by Lloyd's Underwriters' Fire and Non-Marine Association)
(1) This reinsurance does not cover any loss or liability accruing to the
Reassured as a member of, or subscriber to, any association of insurers
or reinsurers formed for the purpose of covering nuclear risks or as a
direct or indirect reinsurer of any such member, subscriber or
association.
(2) Without in any way restricting the operation of paragraph (1) of this
Clause it is understood and agreed that for all purposes of this
reinsurance all the original policies of the Reassured (new, renewal
and replacement) of the classes specified in Clause II of this paragraph
(2) from the time specified in Clause III in this paragraph (2) shall be
deemed to include the following provision (specified as the Limited
Exclusion Provision):
LIMITED EXCLUSION PROVISION.*
I. It is agreed that the policy does not apply under any liability
coverage, to
[injury, sickness, disease, death, or destruction,
[bodily injury or property damage
with respect to which an insured under the policy is also an
insured under a nuclear energy liability policy issued by
Nuclear Energy Liability Insurance Association, Mutual Atomic
Energy Liability Underwriters or Nuclear Insurance Association
of Canada, or would be an insured under any such policy but for
its termination upon exhaustion of its limit of liability.
II. Family Automobile Policies (liability only), Special Automobile
Policies (private passenger automobile, liability only),
Comprehensive Personal Liability Policies (liability only), or
policies of a similar nature; and the liability portion of
combination forms related to the four classes of policies stated
above, such as the Comprehensive Dwelling Policy and the
applicable types of Homeowner Policies.
III. The inception dates and thereafter of all original policies as
described in II above,
(a) become effective on or after 1st May, 1960, or
(b) become effective before that date and contain the
Limited Exclusion Provision set out above:
Provided this paragraph (2) shall not be applicable to
Family Automobile Policies, or policies or combination
policies of a similar nature, issued by the Reassured on
New York risks, until 90 days following approval of the
Limited Exclusion Provision by the Governmental
Authority having jurisdiction thereof.
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(3) Except for those classes of policies specified in Clause II of paragraph
(2) and without in any way restricting the operation of paragraph (1)
of this Clause, it is understood and agreed that for all purposed of
this reinsurance the original liability policies of the Reassured (new,
renewal and replacement) affording the following coverages:
Owners, Landlords and Tenants Liability, Contractual Liability,
Elevator Liability, Owners or Contractors (including railroad),
Protective Liability, Manufacturers and Contractors Liability,
Product Liability, Professional and Malpractice Liability,
Storekeepers Liability, Garage Liability, Automotive Liability
(including Massachusetts Motor Vehicle or Garage Liability)
shall be deemed to include, with respect to such coverages, from the
time specified in Clause V of this paragraph (3), the following
provision (specified as the Broad Exclusion Provision):
BROAD EXCLUSION PROVISION.*
It is agreed that the policy does not apply:
I. Under any liability coverage, to
[injury, sickness, disease, death or destruction
[bodily injury or property damage
(a) with respect to which an insured under the policy is
also an insured under a nuclear energy liability policy
issued by Nuclear Energy Liability Insurance
Association, Mutual Atomic Energy Liability Underwriters
or Nuclear Insurance Association of Canada, or would be
an insured under any such policy but for its termination
upon exhaustion of its limit of liability; or
(b) resulting from the hazardous properties of nuclear
material and with respect to which (1) any person or
organization is required to maintain financial
protection pursuant to the Atomic Energy Act of 1954, or
any law amendatory thereof, or (2) the insured is, or
had this policy not been issued would be, entitled to
indemnity from the United States of America, or any
agency thereof, under any agreement entered into by the
United States of America, or any agency thereof, with
any person or organization.
II. Under any Medical Payments Coverage, or under any Supplementary
Payments Provision relating to
[immediate medical or surgical relief,
[first aid,
to expenses incurred with respect to
[bodily injury, sickness, disease or death
[bodily injury
resulting from the hazardous properties of nuclear material and
arising out of the operation of a nuclear facility by any person
or organization.
19
III. Under any Liability Coverage to
{injury, sickness, disease, death or destruction
{bodily injury or property damage
resulting from the hazardous properties of nuclear material if
(a) the nuclear material (1) is at any nuclear facility owned by,
or operated by or on behalf of, an insured or (2) has been
discharged or dispersed therefrom;
(b) the nuclear material is contained in spent fuel or waste at any
time possessed, handled, used, processed, stored, transported
or disposed of by or on behalf of an insured; or
(c) {the injury, sickness, disease, death or destruction
{bodily injury or property damage
arises out of the furnishing by an insured of services,
materials, parts or equipment in connection with planning,
construction, maintenance, operation or use of any nuclear
facility, but if such facility is located within the United
States of America, its territories, or possessions or Canada,
this exclusion (c) applies only to
{injury to or destruction of property at such nuclear facility.
{property damage to such nuclear facility and any property
threat.
IV. As used in this endorsement:
"hazardous properties" include radioactive, toxic or explosive
properties: "nuclear material" means source material, special nuclear
material or byproduct material: "source material", "special nuclear
material", and "byproduct material" have the meanings given to them
in the Atomic Energy Act of 1954 or in any law amendatory thereof:
"spent fuel" means any fuel element or fuel component, solid or
liquid, which has been used or exposed to radiation in a nuclear
reactor: "waste" means any waste material
(1) containing byproduct material and
(2) resulting from the operation by any person or organization or any
nuclear facility included within the definition of nuclear facility
under paragraph (a) or (b) thereof; "nuclear facility" means
(a) any nuclear reactor,
(b) any equipment or device designed or used for
(1) separating the isotopes of uranium or plutonium, (2)
processing or utilizing spent fuel, or (3) handling processing
or packaging waste,
(c) any equipment or device used for the processing, fabricating or
alloying of special nuclear material if at any time the total
amount of such material in the custody of the insured at the
premises where such equipment or device is located consists of
or contains more than 25 grams of plutonium or uranium 233 or
any combination thereof, or more than 250 grams of uranium 235,
(d) any structure, basin, excavation, premises or place prepared or
used for the storage or disposal of waste,
20
and includes the site on which any of the foregoing is located,
all operations conducted on such site and all premises used for
such operations: "nuclear reactor" means any apparatus designed or used
to sustain nuclear fission in a self-supporting chain reaction or to
contain a critical mass of fissionable material;
{With respect to injury to or destruction of property, the word
"injury" or "destruction" "property damage" includes all forms of
radioactive contamination of property.
{includes all forms of radioactive contamination of property.
V. The inception dates and thereafter of all
original policies affording coverages specified in this
paragraph (3), whether new, renewal or replacement, being
policies which become effective on or after 1st May, 1960
provided this paragraph (3) shall not be applicable to
(I) Garage and Automobile Policies issued by the
Reassured on New York risks, or
(ii) statutory liability insurance required under
Chapter 90, General Laws of Massachusetts,
until 90 days following approval of the Broad Exclusion
Provision by the Governmental Authority having jurisdiction
thereof.
(4) Without in any way restricting the operation on paragraph (1) of this
Clause, it is understood and agreed that paragraphs (2) and (3) above
are not applicable to original liability policies of the Reassured in
Canada and that with respect to such policies this Clause shall be
deemed to include the Nuclear Energy Liability Exclusion Provisions
adopted by the Canadian Underwriters' Association or the Independent
Insurance Conference of Canada.
*Note: The words printed in bold in the Limited Exclusion Provision and in the
Broad Exclusion Provision shall apply only in relation to original
liability policies which include a Limited Exclusion Provision or a
Broad Exclusion Provision containing those words.
21
NUCLEAR INCIDENT EXCLUSION CLAUSE - LIABILITY - REINSURANCE
CANADA
1. This reinsurance does not cover any loss or liability accruing to the
Company as a member of, or subscriber to, any association of insurers or
reinsurers formed for the purpose of covering nuclear energy risks or as a
direct or indirect reinsurer of any such member, subscriber, or
association.
2. Without in any way restricting the operation or paragraph 1 of this clause
it is agreed that for all purposes of this reinsurance all the original
liability contracts of the Company, whether new, renewal or replacements,
of the following classes, namely,
Personal Liability,
Farmer Liability,
Storekeepers Liability,
Which become effective on or after 31st December 1962, shall be deemed to
include, from their inception dates and thereafter, the following
provision:
LIMITED EXCLUSION PROVISION
This Agreement does not apply to injury, sickness, disease, death, damage or
destruction with respect to which an insured under this Agreement is also
insured under a contract or nuclear energy liability insurance (whether the
insured is named in such Agreement or not or whether or not it is legally
enforceable by the insured) issued by the Nuclear Insurance Association of
Canada or any other group or pool of insurers or would be an insured under any
such policy but for its termination upon exhaustion of its limits of liability.
With respect to property, losses of use of such property shall be deemed to be
damage to or destruction of property.
3. Without in any way restricting the operation of paragraph 1 of this clause
it is agreed that for all purposes of this reinsurance all the original
liability contracts of the Company, whether new, renewal or replacement, of
any class whatsoever (other than personal liability, farmers liability,
storekeepers liability or automobile liability contracts), which become
effective on or after 31st December 1962, shall be deemed to include from
their inception dates and thereafter, the following provision:
BROAD EXCLUSION PROVISION
This agreement does not apply to injury, sickness, disease, death, damage or
destruction
(A) With respect to which an insured under this Agreement is also insured
under a contract of nuclear energy liability insurance (whether the insured
is named in such contract or not and whether or not it is legally
enforceable by the insured)
22
issued by the Nuclear Insurance Association of Canada or any other group or
pool or insurers or would be an insured under any such policy but for its
termination upon exhaustion or its limit of liability; or
(B) Resulting directly or indirectly from the nuclear energy hazard arising
from:
(1) The ownership, maintenance, operation or use of nuclear facility by or
on behalf of an insured:
(2) The furnishing by an insured of services, materials, parts, or
equipment in connection with the planning, construction, maintenance,
operation or use of any nuclear facility; and
(3) The transportation, consumption, possession, handling, disposal or use
of radioactive material (other than radioisotopes away from a nuclear
facility) sold, handled, used or distributed by an insured.
As used in this Endorsement:
(I) The term "Nuclear Energy Hazard" means the radioactive, toxic, explosive
or other hazardous properties of radioactive material;
(II) The term "Radioactive Material" means uranium, thorium, plutonium,
neptunium, their respective derivatives and compounds, radioactive
isotopes of other elements and any other substances that the Atomic
Energy Control Board may, by regulation, designate as being prescribed
substances capable of releasing atomic energy, or being requisite for the
production, use or application of atomic energy;
(III) The term "Nuclear Facility" means:
(A) Any apparatus designed or used to sustain nuclear fission in a
self-supporting chain reaction or to contain a critical mass of
plutonium, thorium and uranium or any one or more of them;
(B) Any equipment or device designed or used for (I) separating and
isotopes of plutonium, thorium, and uranium or any one or more of
them, (II) processing or utilizing spent fuel, or (III) handling,
processing or packaging waste;
(C) Any equipment or device used for the processing, fabricating or
alloying of plutonium, thorium and uranium or any one or more of
them if at any time the total amount of such material in the custody
of the insured at the premises where such equipment or device is
located consists of or contains more than 25 grams of plutonium or
uranium 233 or any combination thereof, or more than 250 grams of
uranium 235;
23
(D) Any structure, basin, excavation, premises or place prepared or
used for the storage or disposal of waste radioactive material;
and includes the site on which any of the foregoing is located, together
with all operations conducted thereon and all premises used for such
operations.
(IV) With respect to property, loss of use of such property shall be deemed
to be damage to or destruction of property.
24
U.S.A.
NUCLEAR INCIDENT EXCLUSION CLAUSE -- PHYSICAL DAMAGE --
REINSURANCE
1. This Reinsurance does not cover any loss or liability accruing to the
Reassured, directly or indirectly and whether as Insurer or Reinsurer, from
any Pool of Insurers of Reinsurers formed for the purpose of covering
Atomic or Nuclear Energy risks.
2. Without in any way restricting the operation of paragraph (l) of this
Clause, this Reinsurance does not cover any loss or liability accruing to
the Reassured, directly or indirectly and whether as Insurer or Reinsurer
from any insurance against Physical Damage (including business
interpretation or consequential loss arising out of such Physical Damage)
to:
I. Nuclear reactor power plants including all auxiliary property on the
site, or
II. Any other nuclear reactor installation, including laboratories
handling radioactive materials, in connection with reactor
installations, and "critical facilities" as such, or
III. Installations for fabricating complete fuel elements or for processing
substantial quantities of "special nuclear material", and for
reprocessing, salvaging, chemically separating, storing or disposing
of "spent" nuclear fuel or waste materials, or
IV. Installations other than those listed in paragraph (2) III above using
substantial quantities of radioactive isotopes or other products of
nuclear fission.
3. Without in any way restricting the operations of paragraphs (1) and (2)
hereof, this Reinsurance does not cover any loss or liability by
radioactive contamination accruing to the Reassured, directly or
indirectly, and whether as Insurer or Reinsurer, from any nuclear
installation and which normally would be insured therewith except that this
paragraph (3) shall not operate
(a) where Reassured does not have knowledge of such nuclear reactor
power plant or nuclear installation, or
(b) where said insurance contains a provision excluding coverage for
damage to property caused by or resulting from radioactive
contamination, however caused.
However on and after 1st January, 1960 this subparagraph (b)
shall only apply provided the said radioactive contamination
exclusion provision has been approved by the Governmental
Authority having jurisdiction thereof.
4. Without in any way restricting the operations of paragraphs (1), (2) and
(3) hereof, this Reinsurance does not cover any loss or liability by
radioactive contamination accruing to the Reassured, directly or
indirectly, and whether as Insurer or Reinsurer, when such radioactive
contamination is a named hazard specifically insured against.
25
5. It is understood and agreed that this Clause shall not extend to risks
using radioactive isotopes in any form where the nuclear exposure is not
considered by the Reassured to be the primary hazard.
6. The term "special nuclear material" shall have the meaning given it in the
Atomic Energy Act of 1954 or by any law amendatory thereof.
7. Reassured to be sole judge of what constitutes:
(a) substantial quantities, and
(b) the extent of installation, plant or site.
Note: Without in any way restricting the operation of paragraph (1) hereof, it
is understood and agreed that
(a) all policies issued by the Reassured on or before 31st December 1957
shall be free from the application of the other provisions of this
Clause until expiry date or 31st December 1960 whichever first occurs
whereupon all the provisions of this Clause shall apply.
(b) with respect to any risk located in Canada policies issued by the
Reinsured on or before 31st December 1958 shall be free from the
application of the other provisions of this Clause until expiry date
or 31st December 1960 whichever first occurs whereupon all the
provisions of this Clause shall apply.
26
CANADA
NUCLEAR INCIDENT EXCLUSION CLAUSE--PHYSICAL DAMAGE--
REINSURANCE
1. This Agreement does not cover any loss or liability accruing to the
Reinsured directly or indirectly, and whether as Insurer or Reinsurer, from
any Pool of Insurers or Reinsurers formed for the purpose of covering
Atomic or Nuclear Energy risks.
2. Without in any way restricting the operation of paragraph 1 of this clause,
this Agreement does not cover any loss or liability accruing to the
Reinsured, directly or indirectly and whether as Insurer or Reinsurer, from
any insurance against Physical Damage (including business interruption or
consequential loss arising out of such Physical Damage) to:
(1) Nuclear reactor power plants including all auxiliary property on the
site, or
(2) Any other nuclear reactor installation, "Including laboratories
handling radioactive materials in connection with reactor
installations, and critical facilities as such, or
(3) Installations for fabricating complete fuel elements or for processing
substantial quantities of prescribed substances, and for reprocessing,
salvaging, chemically separating, storing or disposing of spent
nuclear fuel or waste materials, or
(4) Installations other than those listed in (3) above using substantial
quantities of radioactive isotopes or other products of nuclear
fission.
3. Without in any way restricting the operation of paragraphs 1 and 2 of this
clause, this Agreement does not cover loss or liability by radioactive
contamination accruing to the Reinsured, directly or indirectly, and
whether as Insurer or Reinsurer, from any insurance on property which is on
the same site as a nuclear reactor power plant or other nuclear
installation and which normally would be insured therewith, except that
this paragraph 3 shall not operate.
(a) where the Reinsured does not have knowledge of such nuclear reactor
power plant or nuclear installation, or
(b) where the said insurance contains a provision excluding a coverage for
damage to property caused by or resulting from radioactive
contamination, however caused.
4. Without in any way restricting the operation of paragraphs 1, 2 and 3 of
this clause, the Agreement does not cover any loss or liability by
radioactive contamination accruing to the Reinsured, directly or
indirectly, and whether as Insurer or Reinsurer, when such radioactive
contamination is a named hazard specifically insured against.
27
5. This clause shall not extend to risks using radioactive isotopes in any
form where the nuclear exposure is not considered by the Reinsured to be
the primary hazard.
6. The term "prescribed substances" shall have the meaning given to it by
the Atomic Energy Control Act R.S.C. 1974 or by any law amendatory
thereof.
7. Reinsured to be sole judge of what constitutes:
(a) substantial quantities, and
(b) the extent of installation, plant or site.
8. Without in any way restricting the operation of paragraphs 1, 2, 3 and 4
of this clause, this Agreement does not cover any loss or liability
accruing to the Reinsured, directly or indirectly, and whether as
Insurer or Reinsurer caused by any nuclear incident as defined in The
Nuclear Liability Act, nuclear explosion or contamination by radioactive
material.
NOTE: Without in any way restricting the operation of paragraphs 1, 2, 3 and 4
of this clause, paragraph 8 or this clause shall only apply to all
original contracts of the Reinsured whether new, renewal or replacement
which become effective on or after December 31, 1984.
28
ENDORSEMENT I
This Endorsement Attaches To and Becomes a Part of the
AUTOMOBILE THIRD PARTY LIABILITY AND PHYSICAL DAMAGE
QUOTA SHARE REINSURANCE CONTRACT
Effective: January 1, 1995
issued to
PAFCO GENERAL INSURANCE COMPANY
Indianapolis, Indiana
and
IGF INSURANCE COMPANY
Des Moines, Iowa
by
CHARTWELL REINSURANCE COMPANY
Minneapolis, Minnesota
IT IS HEREBY MUTUALLY AGREED that effective 12:01 A.M. January 1, 1996 this
Contract is cancelled in accordance with ARTICLE II, COMMENCEMENT AND
TERMINATION, paragraph C, subsection 2 on a cut-off basis whereby Reinsurers
shall have no liability for loss occurrences happening after that date and
time. The unearned premium at December 31, 1995, less a 35% ceding commission,
shall be returned to the Company.
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
29
ENDORSEMENT I
PAGE 2
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
representatives have executed this ENDORSEMENT I to the AUTOMOBILE THIRD PARTY
LIABILITY AND PHYSICAL DAMAGE QUOTA SHARE REINSURANCE CONTRACT as of the dates
recorded below:
At Indianapolis, IN this 8th day of March, 1996
PAFCO GENERAL INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At Indianapolis, IN this 8th day of March, 1996
IGF INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At Stanford, CT this 20th day of March, 1996
CHARTWELL REINSURANCE COMPANY
By: /s/ Thomas A. Greenberg
-------------------------------
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
30
ENDORSEMENT I
This Endorsement Attaches To and Becomes a Part of the
AUTOMOBILE THIRD PARTY LIABILITY AND PHYSICAL DAMAGE
QUOTA SHARE REINSURANCE CONTRACT
Effective: January 1, 1995
issued to
PAFCO GENERAL INSURANCE COMPANY
Indianapolis, Indiana
and
IGF INSURANCE COMPANY
Des Moines, Iowa
by
CONSTITUTION REINSURANCE CORPORATION
New York, New York
IT IS HEREBY MUTUALLY AGREED that effective 12:01 A.M. January 1, 1996 this
Contract is cancelled in accordance with ARTICLE II, COMMENCEMENT AND
TERMINATION, paragraph C, subsection 2 on a cut-off basis whereby Reinsurers
shall have no liability for loss occurrences happening after that date and
time. The unearned premium at December 31, 1995, less a 35% ceding commission,
shall be returned to the Company.
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
31
ENDORSEMENT I
PAGE 2
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
representatives have executed this ENDORSEMENT I to the AUTOMOBILE THIRD PARTY
LIABILITY AND PHYSICAL DAMAGE QUOTA SHARE REINSURANCE CONTRACT as of the dates
recorded below:
At Indianapolis, IN this 8th day of March, 1996
PAFCO GENERAL INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At Indianapolis, IN this 8th day of March, 1996
IGF INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At New York, NY this 20th day of March, 1996
CONSTITUTION REINSURANCE COMPANY
By: /s/ CANNOT READ SIGNATURE
-------------------------------
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
32
ENDORSEMENT I
This Endorsement Attaches To and Becomes a Part of the
AUTOMOBILE THIRD PARTY LIABILITY AND PHYSICAL DAMAGE
QUOTA SHARE REINSURANCE CONTRACT
Effective: January 1, 1995
issued to
PAFCO GENERAL INSURANCE COMPANY
Indianapolis, Indiana
and
IGF INSURANCE COMPANY
Des Moines, Iowa
by
SYDNEY REINSURANCE COMPANY
New York, New York
IT IS HEREBY MUTUALLY AGREED that effective 12:01 A.M. January 1, 1996 this
Contract is cancelled in accordance with ARTICLE II, COMMENCEMENT AND
TERMINATION, paragraph C, subsection 2 on a cut-off basis whereby Reinsurers
shall have no liability for loss occurrences happening after that date and
time. The unearned premium at December 31, 1995, less a 35% ceding commission,
shall be returned to the Company.
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
33
ENDORSEMENT I
PAGE 2
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
representatives have executed this ENDORSEMENT I to the AUTOMOBILE THIRD PARTY
LIABILITY AND PHYSICAL DAMAGE QUOTA SHARE REINSURANCE CONTRACT as of the dates
recorded below:
At Indianapolis, IN this 8th day of March, 1996
PAFCO GENERAL INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At Indianapolis, IN this 8th day of March, 1996
IGF INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At New York, NY this 15th day of April, 1996
SYDNEY REINSURANCE CORPORATION
By: /s/ James J. Frori
-------------------------------
Our Ref. #31224
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
34
ENDORSEMENT I
This Endorsement Attaches To and Becomes a Part of the
AUTOMOBILE THIRD PARTY LIABILITY AND PHYSICAL DAMAGE
QUOTA SHARE REINSURANCE CONTRACT
Effective: January 1, 1995
issued to
PAFCO GENERAL INSURANCE COMPANY
Indianapolis, Indiana
and
IGF INSURANCE COMPANY
Des Moines, Iowa
by
SCOR REINSURANCE COMPANY
New York, New York
IT IS HEREBY MUTUALLY AGREED that effective 12:01 A.M. January 1, 1996 this
Contract is cancelled in accordance with ARTICLE II, COMMENCEMENT AND
TERMINATION, paragraph C, subsection 2 on a cut-off basis whereby Reinsurers
shall have no liability for loss occurrences happening after that date and
time. The unearned premium at December 31, 1995, less a 35% ceding commission,
shall be returned to the Company.
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
35
ENDORSEMENT I
PAGE 2
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
representatives have executed this ENDORSEMENT I to the AUTOMOBILE THIRD PARTY
LIABILITY AND PHYSICAL DAMAGE QUOTA SHARE REINSURANCE CONTRACT as of the dates
recorded below:
At Indianapolis, IN this 8th day of March, 1996
PAFCO GENERAL INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At Indianapolis, IN this 8th day of March, 1996
IGF INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At New York, NY this 15th day of March, 1996
SCOR REINSURANCE COMPANY
By: /s/ James A. Warten
-------------------------------
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
36
ENDORSEMENT I
This Endorsement Attaches To and Becomes a Part of the
AUTOMOBILE THIRD PARTY LIABILITY AND PHYSICAL DAMAGE
QUOTA SHARE REINSURANCE CONTRACT
Effective: January 1, 1995
issued to
PAFCO GENERAL INSURANCE COMPANY
Indianapolis, Indiana
and
IGF INSURANCE COMPANY
Des Moines, Iowa
by
WINTERTHUR REINSURANCE CORPORATION OF AMERICA
New York, New York
IT IS HEREBY MUTUALLY AGREED that effective 12:01 A.M. January 1, 1996 this
Contract is cancelled in accordance with ARTICLE II, COMMENCEMENT AND
TERMINATION, paragraph C, subsection 2 on a cut-off basis whereby Reinsurers
shall have no liability for loss occurrences happening after that date and
time. The unearned premium at December 31, 1995, less a 35% ceding commission,
shall be returned to the Company.
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.
37
ENDORSEMENT I
PAGE 2
IN WITNESS WHEREOF, the parties hereto by their respective duly authorized
representatives have executed this ENDORSEMENT I to the AUTOMOBILE THIRD PARTY
LIABILITY AND PHYSICAL DAMAGE QUOTA SHARE REINSURANCE CONTRACT as of the dates
recorded below:
At Indianapolis, IN this 8th day of March, 1996
PAFCO GENERAL INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At Indianapolis, IN this 8th day of March, 1996
IGF INSURANCE COMPANY
By: /s/ Douglas H. Symons
-------------------------------
At NY, NY this 5th day of April, 1996
WITHERTHUR REINSURANCE CORPORATION OF AMERICA
By: /s/ Scott M. Emanuele
-------------------------------
Scott M. Emanuele
Assistant Vice President
Tanenbaum-Harber
Reinsurance Intermediaries, Inc.