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                                                                   Exhibit 10.17

                    ENVIRONMENTAL PLACEMENT SERVICE AGREEMENT

         This Agreement is entered into effective September 17, 2001 (the
"Effective Date") by and between USI Insurance Services of Texas, Inc. d/b/a USI
--Environmental Risk Mitigation Group. ("USI"), and Chubb Financial Solutions
Division of Federal Insurance Company ("Chubb").

1.       Eligible Lines of Insurance: USI is eligible to receive a commission
         (as described in paragraph 3) on risk transfer environmental business
         for Environmental Site Liability, Collateral Impairment And
         Environmental Site Liability, Remediation Cost Cap, Contractors
         Pollution Liability, or any other environmental liability insurance
         developed by Chubb (collectively referred to as the "Products"), placed
         (worldwide) with Chubb by USI. This agreement does not include premium
         for finite funding but does include risk transfer premium included in
         finite transactions.

2.       Term of the Agreement: This agreement  shall be effective for the
         period  beginning  September 17, 2001, and ending  December 31, 2002,
         unless terminated under the circumstances described in paragraph 4.
         "Advance Payment" or paragraph 12. "Key Man".

3.       Commission: The standard commission payable to USI for any accounts
         placed with Chubb by USI which are eligible lines of insurance as
         described in paragraph 1, shall be ten percent (10%) of gross written
         premium. Additionally, if USI achieves its Gross Written Premium
         Targets in accordance with the schedule set forth below, Chubb shall
         pay the additional corresponding override percentage on gross written
         premium provided that incurred loss at each such time does not exceed
         50% of the amount of premium collected as of such date. The total
         amount to be paid to USI for standard commission and additional
         override under this agreement shall not exceed 13% of gross written
         premium. For purposes of this agreement "gross written premium" means
         the total premium for insurance

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         policies which incept during the term of the agreement as set forth in
         paragraph 2 which are billed by Chubb, excluding any renewal premium,
         Finite Funded premium or premium for any Chubb account that was
         initiated by another party but for which USI has become broker of
         record and "incurred loss" means paid losses and outstanding loss
         reserves for loss to which the insurance which is the subject of this
         agreement applies.
<TABLE>
          <S>                           <C>                                       <C>
          ----------------------------- ----------------------------------------- ----------------
          Target Date                   Gross   Written   Premium                 Override
                                        Target
          ----------------------------- ----------------------------------------- ----------------
          June 30, 2002                 $ 7,000,000                               N/A

          ----------------------------- ----------------------------------------- ----------------
          September 30, 2002            $14,000,000                               2%

          ----------------------------- ----------------------------------------- ----------------
          December 31, 2002             $20,000,000                               3%
          ----------------------------- ----------------------------------------- ----------------
</TABLE>


4.       Advance  Payment:  Chubb agrees to advance  standard  commission  to
         USI at the address set forth in paragraph 7 in accordance with the
         following  schedule,  such advance payment amounts to be deducted from
         commissions  earned by USI as calculated under paragraph 3:
<TABLE>
          <S>                                          <C>
          -------------------------------------------- ------------------------------------------
          Advance Date                                 Advance Amount

          -------------------------------------------- ------------------------------------------

          Execution of this Agreement                  $    300,000
          -------------------------------------------- ------------------------------------------

          March 31, 2002                               $    175,000
          -------------------------------------------- ------------------------------------------

          June 30, 2002                                $    175,000
          -------------------------------------------- ------------------------------------------

          September 30, 2002                           $    175,000
          -------------------------------------------- ------------------------------------------

          December 31, 2002                            $    175,000
          -------------------------------------------- ------------------------------------------
</TABLE>

         provided that if USI fails to achieve its Gross Written Premium Target
         for June 30, 2002, or any subsequent Gross Written Premium Target as
         set forth in paragraph 3, Chubb is not obligated to pay any further
         Advance Amount unless
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         and until such premium target is achieved. Furthermore, if USI fails
         to achieve its Gross Written Premium Target for two consecutive
         quarters, Chubb may, at its sole election, terminate this agreement
         and USI shall immediately reimburse Chubb for any amount Chubb paid as
         an advance amount in excess of $300,000.00 to the extent such advance
         amount exceeds any commission owed to USI as calculated in accordance
         with Paragraph 3.

5.       Marketing Materials: USI may not distribute any marketing or other
         promotional materials including, but not limited to press releases,
         brochures, or PowerPoint presentations (i) describing the Products or
         Chubb; (ii) using Chubb's name or the name of any of its affiliate,
         member companies or associated companies, or (iii) using Chubb's logos,
         trademarks, tradenames or service marks, without the prior written
         approval of Chubb.

6.       Volume  Establishment: Chubb will make all computations  required by
         this agreement,  including the coding and classifying of all business
         written,  in accordance  with our usual  accounting,  claims and
         statistical  methods and  procedures.  All such computations shall
         be final.

7.       Notifications or Payments: Any notifications or payments required to
         be made under this agreement shall be sent to:


         For USI:
         --------

         Gregg Roberts
         USI- Environmental Risk Mitigation Group
         1250 Woodbranch Park Drive
         Suite 300
         Houston, Texas 77079

         Copy to:


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         General Counsel
         USI Insurance Services Corp.
         50 California, 24th Floor
         San Francisco, CA 94111


         For Chubb:
         ----------

         John K. Welter
         Chief Underwriting Officer
         Chubb Financial Solutions Division of Federal Insurance Company
         100 William Street, 18th Floor
         New York, NY 10038

         or to such other person or address as USI or Chubb may from time to
         time so designate.

8.       Confidentiality: The terms of this agreement are confidential and
         shall not be disclosed by either party except as may be required by
         law. Other than necessary internal disclosure of this agreement or
         disclosure to auditors or regulators  necessary the intent of this
         provision is to keep this agreement confidential from competitors.

9.       Licenses: USI will be responsible for maintaining applicable licenses
         required for the proper conduct its duties under this agreement and
         will be responsible for any damages, penalties, fines and liabilities
         incurred by Chubb as a result of any violation of this section.

10.      Amendment: No amendment or modification of this agreement shall bind
         either party hereto unless made in writing and signed by both parties.
         No waiver of any term or condition hereof or obligation hereunder shall
         be valid unless made in writing and signed by the party to which
         performance is due.

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11.      Relationship: Nothing in this agreement will be construed as creating
         the relationship of employer and employee, partners or joint venturers
         between USI and Chubb, or between Chubb and any of USI's employees or
         representatives. It is the express intent of the parties hereto that
         USI is not an employee, partner or joint venturer of Chubb for any
         purpose, but is an independent contractor for all purposes and in all
         situations.

12.      Key Man: The parties hereby acknowledge that Chubb has entered into
         this agreement based upon the association of Gregg Roberts with
         USI. If Gregg Roberts leaves the employment of USI, Chubb, at its sole
         discretion, may terminate this agreement.

13.      Choice of Law: This agreement shall be interpreted in accordance with
         the law of the State of New York, without regard to any conflict of
         law provisions.

14.      Entire Agreement: This Agreement contains the entire agreement between
         USI and Chubb concerning the subject matter hereof, and no
         modifications of this agreement or waiver of the terms and conditions
         hereof will be binding USI or Chubb unless approved in writing by each
         of the parties hereto.

15.      Counterparts: This agreement may be executed in multiple counterparts
         each of which shall be considered an original but all of which, when
         taken together, shall constitute but one and the same document.



         IN WITNESS WHEREOF, the undersigned have executed this Agreement
effective as of the date first above-written.

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<TABLE>
<S>                                                              <C>

                                                                       Chubb Financial Solutions Division of
        USI Insurance Services of Texas, Inc.                                Federal Insurance Company
            d/b/a USI--Environmental Risk
                  Mitigation Group
-------------------------------------------------------          -------------------------------------------------
By: /s/  R. Gregg Roberts                                        By: /s/ John K. Welter


-------------------------------------------------------          -------------------------------------------------

R. Gregg Roberts, SVP and Managing                                      John K. Welter, Vice President & Chief
Director, USI--Environmental Risk                                                 Underwriting Officer
Mitigation Group                                                           Environmental Solutions Division

-------------------------------------------------------          -------------------------------------------------
Date                                                             Date
</TABLE>

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