EXHIBIT 10.38
AMENDMENT NO. 3
The Property Per Risk Excess of Loss Reinsurance Agreement of
January 1, 1992, between EMPLOYERS REINSURANCE CORPORATION of
Overland Park, Kansas and MERIDIAN MUTUAL INSURANCE COMPANY,
XXXXXX FIRE AND CASUALTY INSURANCE COMPANY and MERIDIAN
SECURITY INSURANCE COMPANY, all of Indianapolis, Indiana, and
CITIZENS SECURITY MUTUAL INSURANCE COMPANY and CITIZENS FUND
INSURANCE COMPANY, both of Red Wing, Minnesota, and INSURANCE
COMPANY OF OHIO of Mansfield, Ohio, is hereby amended as
follows:
A. As respects the annual period commencing on January 1,
1998 and each annual period thereafter, the reinsurance
premium rate applicable to Layer 2 as set out in Article
VIII and as amended by Amendment No. 1, is hereby reduced
from 1.0% to 0.5%.
B. As resepects the accounting period commencing January 1,
1998, Article IX is hereby deleted in its entirety and the
designation of Article IX is reserved for future use.
In all other respects not inconsistent herewith, said agreement
shall remain unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this
amendment to be executed in duplicate.
MERIDIAN MUTUAL INSURANCE
COMPANY
XXXXXX FIRE AND CASUALTY
INSURANCE COMPANY
MERIDIAN SECURITY INSURANCE EMPLOYERS REINSURANCE
COMPANY CORPORATION
______________________________ ______________________________
Title: Title:
______________________________ ______________________________
Title: Title:
Date:_________________________ Date:_________________________
(Continued)
CITIZENS SECURITY MUTUAL CITIZENS FUND INSURANCE
INSURANCE COMPANY COMPANY
______________________________ ______________________________
Title: Title:
______________________________ ______________________________
Title: Title:
Date:_________________________ Date:_________________________
INSURANCE COMPANY OF OHIO
______________________________
Title:
______________________________
Title:
Date:_________________________
