Interests and Liabilities Agreement Forming Part of Underlying Catastrophe Excess of Loss Reinsurance Contract between Homeowners Choice Property & Casualty Insurance Company, Inc. and Claddaugh Casualty Insurance Company Ltd.
This agreement, effective June 1, 2015, is between Homeowners Choice Property & Casualty Insurance Company, Inc. (the Reinsured) and Claddaugh Casualty Insurance Company Ltd. (the Subscribing Reinsurer). It sets out the specific interests and liabilities of the reinsurer under an underlying catastrophe excess of loss reinsurance contract. Claddaugh agrees to assume 100% of a $30 million liability layer in excess of $16 million, as described in the main contract. The agreement also covers proportional participation in additional obligations and specifies a brokerage fee percentage. Key terms and signatures are included.
EXHIBIT 10.83
**** indicates material that has been omitted pursuant to a request for confidential treatment. The omitted material has been filed separately with the U.S. Securities and Exchange Commission.
| ARP-HCI-02-CAT-UL1-15 | ||
| DOC: May 18, 2015 | ||
INTERESTS AND LIABILITIES AGREEMENT
attaching to, and forming part of, the
UNDERLYING CATASTROPHE EXCESS OF LOSS REINSURANCE CONTRACT
(hereinafter called the “Contract”)
EFFECTIVE: JUNE 1, 2015
issued to
HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY, INC.
TAMPA, FLORIDA
(hereinafter called the “Reinsured”)
by
CLADDAUGH CASUALTY INSURANCE COMPANY LTD.
(hereinafter called the “Subscribing Reinsurer”)
Under the terms of this Contract the above Subscribing Reinsurer agrees to assume severally and not jointly with other participants
| Limit and Retention | Participation | Dollar Line | ||||||
| $30,000,000 xs $16,000,000 | 100.000 | % | $ | 30,000,000 | ||||
of the liability in the layer(s) described in the attached Contract including the same corresponding proportional participation of the Reinsurers’ additional obligations set forth within the layer(s) upon which the Subscribing Reinsurer participates described above.
Brokerage
****% of Ceded Reinsurance Premium
Signed in , on this day of , 20
CLADDAUGH CASUALTY INSURANCE COMPANY LTD.
BY:
TITLE:
Signed in , on this day of , 20
HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY, INC.
TAMPA, FLORIDA
BY:
TITLE:
| ARP-HCI-02-CAT-UL1-15 | I&L – CLAD | |
| DOC: May 18, 2015 | ||
