Exhibit 10.13 (22)
ADDENDUM NO. 5
to
QUOTA SHARE REINSURANCE AGREEMENT
EFFECTIVE JANUARY 1ST 2000
between
SUPERIOR INSURANCE COMPANY AND ITS WHOLLY-OWNED
INSURANCE SUBSIDARIES
(hereafter called the "Company")
and
NATIONAL UNION FIRE INSURANCE COMPANY OF
PITTSBURGH, PA.
(hereafter called the "Reinsurer")
Notwithstanding the condition of Article VII COMMUTATION it is understood and
agreed that all liabilities emanating from losses on business effective prior to
January 1st, 2002 are commuted effective September 30, 2002. The Reinsurer
shall allow a payment equal to the amount of funds in the Funds Withheld Balance
on September 30, 2002. The Company is granted permission to withdraw those
funds and agrees to forever release and discharge the Reinsurer from any and all
liabilities whether past, present or future on policies effective prior to
January 1st, 2002. It is understood that no further reports are due to the
Reinsurer for this business.
IN WITNESS WHEREOF: the parties hereto have caused this Agreement to be
executed by their authorized representative:
In:_______________________________this___________day of__________________2002
SUPERIOR INSURANCE COMPANY
By:_______________________________Title:______________________________
And in:____________________________this___________day of___________________2002
NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA
By:_______________________________Title:_____________________________
