Endorsement No. 2 to Automobile Quota Share Agreement of Reinsurance No. 8937 between Safe Auto Insurance Company and General Reinsurance Corporation

Summary

This amendment updates the reinsurance agreement between Safe Auto Insurance Company and General Reinsurance Corporation. It increases the coverage cap for the first and second years of the agreement from $40 million to $50 million. Both parties have agreed to these changes, which are formalized in this endorsement signed by their representatives.

EX-10.22 24 l09109aexv10w22.txt EX-10.22 EXHIBIT 10.22 ENDORSEMENT NO. 2 Attached to and made a part of AUTOMOBILE QUOTA SHARE AGREEMENT OF REINSURANCE NO. 8937 between SAFE AUTO INSURANCE COMPANY (herein referred to as the "Company") and GENERAL REINSURANCE CORPORATION (herein referred to as the "Reinsurer") IT IS MUTUALLY AGREED that the $40,000,000 cap for the first Agreement Year here-under, as set forth in the second paragraph of ARTICLE V - LIABILITY OF THE REINSURER, is amended to $50,000,000. IT IS FURTHER AGREED that the cap for the second Agreement Year hereunder, as set forth in the second paragraph of said ARTICLE V, is $50,000,000. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in duplicate, this 29th day of December, 2002, SAFE AUTO INSURANCE COMPANY /s/ ARI DESHE, CEO ------------------ Attest:_______________ and this_______day of__________,200__. GENERAL REINSURANCE CORPORATION /s/ Jon Schriber ------------------ Vice President Attest: /s/ William J. Brassington -------------------------- GENERAL REINSURANCE CORPORATION