Exhibit 2.1 AMENDMENT NO. 1 (this "Amendment") dated November 14, 2006 to the Stock Purchase Agreement (the "Purchase Agreement") dated September 8, 2006 by and among Embarcadero Insurance Holdings, Inc., the shareholders of Embarcadero, CRM USA...Stock Purchase Agreement • November 14th, 2006 • CRM Holdings, Ltd. • Services-management services • New York
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PAGE ---- ARTICLE I DEFINITIONS AND INTERPRETATIONGuarantee Agreement • November 14th, 2006 • CRM Holdings, Ltd. • Services-management services • New York
Contract Type FiledNovember 14th, 2006 Company Industry Jurisdiction
among CRM USA Holdings Trust I, Issuer CRM USA Holdings, Inc., SponsorPlacement Agreement • November 14th, 2006 • CRM Holdings, Ltd. • Services-management services • New York
Contract Type FiledNovember 14th, 2006 Company Industry Jurisdiction
BETWEENParent Guarantee Agreement • November 14th, 2006 • CRM Holdings, Ltd. • Services-management services • New York
Contract Type FiledNovember 14th, 2006 Company Industry Jurisdiction