ENDORSEMENT NO. 1
Attaching to and forming part of the QUOTA SHARE RETROCESSION
REINSURANCE AGREEMENT between DORINCO REINSURANCE COMPANY, Midland,
Michigan (hereinafter called the "Company") and the Reinsurer
specifically identified below (hereinafter called the "Reinsurer").
IT IS AGREED, effective 12:01 a.m., Central Standard Time, July 1, 1997
that ARTICLE 2 - COVER, shall read as follows and not as heretofore:
The Company will cede, and the Reinsurer will accept as reinsurance, a
33.33% share of all business reinsured hereunder.
In addition, the Company will cede, and the Reinsurer will accept as
reinsurance, a 33.33% share of the Company's liability arising from
losses for Extra Contractual Obligations and/or loss in excess of the
Policy limit as described in the EXTRA CONTRACTUAL OBLIGATIONS and
EXCESS OF POLICY LIMITS ARTICLES, up to $2,000,000 each loss. Should
the loss for Extra Contractual Obligations and/or loss in excess of the
Policy limit exceed $2,000,000, the Company will cede, and the Reinsurer
will accept 100% of the liability for such loss in excess of $2,000,000.
ALL OTHER TERMS AND CONDITIONS REMAIN UNCHANGED.
IN WITNESS WHEREOF, the parties hereto, by their authorized
representatives, have executed this Endorsement as of the following
dates:
AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS
Date____________________________________
By______________________________________
(signature)
________________________________________
(name)
________________________________________
(title)
DORINCO REINSURANCE COMPANY
Date____________________________________
By______________________________________
(signature)
________________________________________
(name)
________________________________________
(title)
