Endorsement No. 1 to Per Occurrence Excess of Loss Reinsurance Contract between Homeowners Choice Property & Casualty Insurance Company and Reinsurers
This endorsement amends the Per Occurrence Excess of Loss Reinsurance Contract between Homeowners Choice Property & Casualty Insurance Company and its reinsurers, including National Liability & Fire Insurance Company and Claddaugh Casualty Insurance Company, Ltd. Effective June 1, 2013, it updates the amount Homeowners Choice must retain per loss occurrence for contract years 2012, 2013, and 2014. All other contract terms remain unchanged.
EXHIBIT 10.47
ENDORSEMENT NO. 1
to the
PER OCCURRENCE EXCESS OF LOSS REINSURANCE CONTRACT
(hereinafter called the “Contract”)
EFFECTIVE: JUNE 1, 2012
issued to
HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY
TAMPA, FLORIDA
(hereinafter called the “Reinsured”)
by
NATIONAL LIABILITY & FIRE INSURANCE COMPANY
(hereinafter called, with other participants, the “Reinsurers”)
Effective June 1, 2013, the Contract has been amended as follows:
ARTICLE 6 – RETENTION AND LIMIT, Paragraph (4), shall now read as follows:
“Reinsured’s Retention,” as respects all loss or losses arising out of Loss Occurrences commencing during the Contract Year effective June 1, 2012, shall equal $7,500,000.
“Reinsured’s Retention,” as respects all loss or losses arising out of Loss Occurrences commencing during the Contract Year effective June 1, 2013, shall equal $11,000,000.
“Reinsured’s Retention,” as respects all loss or losses arising out of Loss Occurrences commencing during the Contract Year effective June 1, 2014, shall equal the greater of the following:
| i. | $7,500,000; or |
| ii. | 15% of the Reinsured’s Policyholders’ Surplus as of December 31, 2013. |
All other Terms and Conditions remain unchanged.
| ARP-HCI-02-LAC-001-12
DOC: May 25, 2012 | Endorsement No. 1 – BRK |
Signed in , on this day of , 2013
NATIONAL LIABILITY & FIRE INSURANCE COMPANY
| BY: |
| |
| TITLE: |
| |
Signed in , on this day of , 2013
HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY
TAMPA, FLORIDA
| BY: |
| |
| TITLE: |
| |
| ARP-HCI-02-LAC-001-12
DOC: May 25, 2012 | Endorsement No. 1 – BRK |
ENDORSEMENT NO. 1
to the
PER OCCURRENCE EXCESS OF LOSS REINSURANCE CONTRACT
(hereinafter called the “Contract”)
EFFECTIVE: JUNE 1, 2012
issued to
HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY
TAMPA, FLORIDA
(hereinafter called the “Reinsured”)
by
CLADDAUGH CASUALTY INSURANCE COMPANY, LTD.
(hereinafter called, with other participants, the “Reinsurers”)
Effective June 1, 2013, the Contract has been amended as follows:
ARTICLE 6 – RETENTION AND LIMIT, Paragraph (4), shall now read as follows:
“Reinsured’s Retention,” as respects all loss or losses arising out of Loss Occurrences commencing during the Contract Year effective June 1, 2012, shall equal $7,500,000.
“Reinsured’s Retention,” as respects all loss or losses arising out of Loss Occurrences commencing during the Contract Year effective June 1, 2013, shall equal $11,000,000.
“Reinsured’s Retention,” as respects all loss or losses arising out of Loss Occurrences commencing during the Contract Year effective June 1, 2014, shall equal the greater of the following:
| i. | $7,500,000; or |
| ii. | 15% of the Reinsured’s Policyholders’ Surplus as of December 31, 2013. |
All other Terms and Conditions remain unchanged.
| ARP-HCI-02-LAC-001-12
DOC: May 25, 2012 | Endorsement No. 1 – CLAD |
Signed in , on this day of , 2013
CLADDAUGH CASUALTY INSURANCE COMPANY, LTD.
| BY: |
| |
| TITLE: |
| |
Signed in , on this day of , 2013
HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY
TAMPA, FLORIDA
| BY: |
| |
| TITLE: |
| |
| ARP-HCI-02-LAC-001-12
DOC: May 25, 2012 | Endorsement No. 1 – CLAD |
| «CONTRACT_NO» | Endorsement No. 1 - «reinsurer_20_code» |
DOC: «Contract_Document_Date»
