EXHIBIT 10.21
ENDORSEMENT NO. 1
Attached to and made a part of
AUTOMOBILE QUOTA SHARE
AGREEMENT OF REINSURANCE NO. 8937
between
SAFE AUTO INSURANCE COMPANY
(herein referred to as the "Company")
and
GENERAL REINSURANCE CORPORATION
(herein referred to as the "Reinsurer")
IT IS MUTUALLY AGREED that, as respects claims and losses resulting from
Occurrences taking place at and after 12:01 A.M., October 1, 2002, the Schedule
of Reinsurance set forth in ARTICLE V - LIABILITY OF THE REINSURER is amended to
read:
"SCHEDULE OF REINSURANCE
Company's Quota Reinsurer's Quota Limit of Liability
Share Percentage Share Percentage of the Reinsurer
---------------- ---------------- ----------------
75% 25% 25% of $50,000
The sum of 25% of $900 shall be deducted from the Reinsurer's share of Net Loss
sustained hereunder arising out of each Occurrence."
In consideration of the above, the Reinsurer shall return to the Company the
appropriate percentage of the reinsurance premium unearned, calculated on the
monthly pro rata basis, less the commission previously allowed thereon.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
in
GENERAL REINSURANCE CORPORATION
duplicate,
this 29th day of December, 2002,
SAFE AUTO INSURANCE COMPANY
/s/ XXX XXXXX CEO
---------------------
Attest:_________________
and this 27th day of DECEMBER,2002.
GENERAL REINSURANCE CORPORATION
/s/ Xxx Xxxxxxxx
---------------------
Vice President
Attest: /s/ Xxxxxxx X. Xxxxxxxxxxx
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Agreement No. 8937
GENERAL REINSURANCE CORPORATION
