QUOTA SHARE REINSURANCE AGREEMENT
ENDORSEMENT No. 2
Attached to and forming part of the Quota S hare Reinsurance Agreement No.
3154-0008 between PENN-AMERICA INSURANCE COMPANY and PENN-STAR INSURANCE
COMPANY, Hatboro, Pennsylvania (hereinafter collectively referred to as the
"Company") and AMERICAN RE-INSURANCE COMPANY, a Delaware Corporation with
Administrative Offices in Princeton, New Jersey (hereinafter referred to as the
``Reinsurer'').
It is hereby mutually understood and agreed by the parties hereto that this
Agreement is amended as respects policies issued or renewed with an effective
date on and after 12:01 AM.. .January 1, 2003. in Article IV, EXCLUSIONS,
section A by the addition of the following:
20. A. All loss, cost or expense directly or indirectly arising out of,
resulting from or in any manner related to Fungal Pathogens or
Bacteria whether or not there is another cause of loss which may
have contributed concurrently or in any sequence to a loss.
B. "Fungal Pathogens" ~, as utilized herein, shall mean any fungus or
Mycota or any byproduct or type of infestation produced by such
fungus or Mvcota, including but not limited to, mold, mildew.
mycotoxins, spores or any biogenic aerosols.
C. This exclusion shall not apply to the extent that such liabilities
would be covered under the Company's Mold Exclusion attached to a
General Liability or Umbrella policy issued in a state where said
state has approved the Company`s Mold Exclusion.
D. This exclusion shall also not apply for classes other than
contractors and building owners in states ~ here the Company's Mold
Exclusion has not been approved.
Nothing herein contained shall alter, vary or extend any provision or condition
of the Agreement other than as above stated.
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IN WITNESS WHEREOF the parties hereto have caused this Endorsement to be
executed in duplicate this day of , 2003.
ACCEPTED:
PENN-AMERICA INSURANCE COMPANY
PENN-STAR INSURANCE COMPANY
/s/ Xxxxxx X. Xxxxxx
/s/ Xxxxxx St. Xxxxxx
Attested by:
AMERICAN RE-INSURANCE COMPANY
/s/
/s/
Attested by:
