Addendum No. 5 to Quota Share Reinsurance Agreement between Superior Insurance Company and National Union Fire Insurance Company of Pittsburgh, PA

Summary

This addendum, effective September 30, 2002, is between Superior Insurance Company (and its subsidiaries) and National Union Fire Insurance Company of Pittsburgh, PA. It commutes all liabilities from insurance business effective before January 1, 2002, meaning those obligations are settled as of the addendum date. The reinsurer will pay the amount held in the Funds Withheld Balance, and the company can withdraw these funds. After this, the company releases the reinsurer from all past, present, or future liabilities on those policies, and no further reports are required.

EX-10.13(22) 9 doc8.txt 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:_____________________________