ENDORSEMENT NO. 2 Attached to and made a part of AGREEMENT OF REINSURANCE NO. 9034 between PHILADELPHIA INDEMNITY COMPANY PHILADELPHIA INSURANCE COMPANY (herein collectively referred to as the “Company”) and GENERAL REINSURANCE CORPORATION (herein...
EXHIBIT 10.8
ENDORSEMENT NO. 2
Attached to and made a part of
AGREEMENT OF REINSURANCE
NO. 9034
between
PHILADELPHIA INDEMNITY COMPANY
PHILADELPHIA INSURANCE COMPANY
(herein collectively referred to as the “Company”)
and
GENERAL REINSURANCE CORPORATION
(herein referred to as the “Reinsurer”)
IT IS MUTUALLY AGREED that, as respects new and renewal policies of the Company becoming effective at and after 12:01 A.M., January 1, 2005, and policies of the Company in force at 12:01 A.M., January 1, 2005, Section 7 of Exhibit A to this Agreement is amended to read:
“Section 7 — REINSURANCE PREMIUM
The Company shall pay to the Reinsurer:
(a) | For the First Excess Cover, 2.50% of the Company’s Subject Earned Premium; | |||
(b) | For the Second Excess Cover, 1.15% of the Company’s Subject Earned Premium.” |
IT IS FURTHER AGREED that, as respects Terrorism Occurrences taking place at and after 12:01 A.M., January 1, 2005, Exhibit B to this Agreement is hereby renewed subject to all its terms, conditions and limitations, except as modified below, for a period of one year.
Accordingly, the first paragraph of Section 2 — TERM is amended to read:
“This Exhibit shall apply to new and renewal policies of the Company becoming effective at and after 12:01 A.M., January 1, 2005, and to policies of the Company in force at 12:01 A.M., January 1, 2005, with respect to claims and losses resulting from Terrorism Occurrences taking place at and after the aforesaid time and date, and prior to 12:01 A.M., January 1, 2006.”
IN WITNESS WHEREOF, the parties hereto have caused this Endorsement to be executed
GENERAL REINSURANCE
CORPORATION
A Berkshire Hathaway Company
in duplicate,
this day of , 200 ,
PHILADELPHIA INDEMNITY COMPANY | ||
PHILADELPHIA INSURANCE COMPANY | ||
Attest: |
||
and this 14th day of March 200_5___. |
||
GENERAL REINSURANCE CORPORATION | ||
Xxxx Xxxxxxxx, Vice President |
Attest: Xxxxx X. Xxxxxx, Second Vice President
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Endorsement No. 2
Agreement No. 9034
GENERAL REINSURANCE CORPORATION