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                                                                  Exhibit 10.27

                                                                     96/1212/RM

                                 ADDENDUM NO. 2

                      attaching to and forming part of the

                      CATASTROPHE "AWARDS MADE" EXCESS OF
                           LOSS REINSURANCE CONTRACT

                                  made between

          INTERMED INSURANCE COMPANY and/or INTERLEX INSURANCE COMPANY
                            of Springfield, Missouri
                   (hereafter referred to as the "Reassured")

                                      And

                          REINSURERS SIGNATORY HERETO
                 (hereinafter referred to as the "Reinsurers")

                     U.S. CLASSIFICATION: U.S. REINSURANCE

With effect from 1st October, 1996, the following amendments are made to this
Contract:

1.    The PREAMBLE is amended to read as follows and not as heretofore:

      This Contract is made and entered into between Intermed Insurance Company
      of 1903 E. Battlefield, Springfield, Missouri 65804, U.S.A. (NAIC Code
      33367) and/or Interlex Insurance Company of 1903 E. Battlefield,
      Springfield, Missouri 65804, U.S.A. (NAIC Code 10037), (hereinafter
      referred to as the "Reassured") and the Reinsurers signatory hereto
      (hereinafter referred as the "Reinsurers"), on the following terms and
      conditions:

2.    ARTICLE 1, BUSINESS REINSURED is amended to read as follows and not as
      heretofore:

                                   ARTICLE 1
BUSINESS REINSURED

      This Contract is to indemnify the Reassured for any loss or losses
      sustained by them in respect of their net retentions, as hereinafter
      provided and specified, on any contracts of Medical Practitioners'
      Liability policies (including Dentists' Liability policies) including all
      other ancillary coverages as original, and Lawyers' Professional
      Liability policies including all other coverages as original, issued by
      the Reassured, hereinafter referred to as "policies".

      However, this Contract is only to indemnify the Reassured in respect of
      all liability incurred as the result of that portion of the Reassured's
      Ultimate Net Loss relating to awards in excess of their original policy
      limits and/or relating to claims-related extra-contractual obligations on
      such business, both as more fully defined herein.


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3.    ARTICLE 3, COVER LIMIT AND RETENTION is amended to read follows and not as
      heretofore:

                                   ARTICLE 3

      COVER LIMIT AND RETENTION

      Section (A)

      In respect of original losses to Intermed Insurance Company with claims
      made dates on or after 1st October, 1993, the Reinsurers shall be liable
      under this Contract in respect of each and every loss occurrence, for the
      Reassured's Ultimate Net Loss in excess of US$250,000 Ultimate Net Loss
      each and every loss occurrence in excess of the Reassured's applicable
      reinsurance programme, subject to a limit of liability to the Reinsurers
      of US$5,000,000 Ultimate Net Loss each and every loss occurrence.

      The Reinsurers hereon shall have the benefit of all recoveries under all
      Excess of Loss Contracts effected by the Reassured, including specific
      treaties effected by the Reassured covering extra-contractual obligations
      and excess of original policy limits awards, in respect of all original
      losses coming within the scope of this Contract: but only to the extent
      of the limits of the Reassured's applicable reinsurance programmes,
      whether commuted, exhausted or otherwise, which for the purposes of this
      Contract are deemed to be in full force.

      Section (B)

      In respect of original losses to Intermed Insurance Company with claims
      made dates prior to 1st October, 1993, the Reinsurers shall be liable
      under this Contract in respect of each and every loss occurrence, for the
      Reassured's Ultimate Net Loss in excess of US$250,000 Ultimate Net Loss
      each and every loss occurrence in excess of either the Reassured's
      applicable reinsurance programme, or, if the applicable reinsurance
      programme has expired, in excess of the original policy limit issued by
      the Reassured, subject to a limit of liability to the Reinsurers of
      US$5,000,000 Ultimate Net Loss each and every loss occurrence.

      The Reinsurers hereon shall have the benefit of all recoveries under
      reinsurances effected by the Reassured, including specific treaties
      previously effected by the Reassured covering extracontractual
      obligations and excess of original policy limits awards, in respect of
      all original losses coming within the scope of this Contract; but only to
      the extent of the limits of the Reassured's applicable reinsurance
      programmes, whether commuted, exhausted or otherwise, which for the
      purposes of this Contract are deemed to be in full force.

      Section (C)

      In respect of original losses to Interlex Insurance Company with claims
      made dates on or after 1st July, 1995, the Reinsurers shall be liable
      under this Contract in respect of each and every loss occurrence, for the
      Reassured's Ultimate Net Loss in excess of US$250,000 each and every loss
      occurrence in excess of the Reassured's applicable reinsurance programme,
      subject to a limit of liability to the Reinsurers of US$5,000,000
      Ultimate Net Loss each and every loss occurrence.

      The Reinsurers hereon shall have the benefit of all recoveries under all
      reinsurances effected by the Reassured, including specific treaties
      effected by the Reassured covering extracontractual obligations and
      excess of original policy limits awards, in respect of all original
      losses coming within the scope of this Contract: but only to the extent
      of the limits of the Reassured's applicable reinsurance programmes,
      whether commuted, exhausted or otherwise, which for the purposes of this
      Contract are deemed to be in full force.


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      The Reassured warrant that they will retain 10%, of the premium and of
      any loss recoverable hereunder net for their own account and unreinsured
      in any manner.

      The maximum recoverable under this Contract in respect of Section (A),
      (B) and (C) combined, shall not exceed $5,000,000 each and every loss
      occurrence.

4.    Item F. of ARTICLE 4, DEFINITIONS is amended to read as follows and not
      as heretofore:

F.    The term "Ultimate Net Loss" as used in this Contract shall mean the sum
      actually paid or payable by the Reassured in settlement of any liability
      incurred by the Reassured as a result of awards in excess of their
      original policy limits and/or in respect of claims-related
      extra-contractual obligations, both as more fully defined herein.

      The amount of the Reassured's Ultimate Net Loss shall, once an award has
      been made, include all further expenses and costs or appeal costs
      incurred by the Reassured for awards in excess of original policy limits
      and/or claims-related extracontractual obligations awards, net of all
      amounts recovered from more specific Reinsurers as provided in ARTTCLE 3,
      COVER LIMIT AND RETENTION.

      For the purposes hereof, the Ultimate Net Loss shall not include expenses
      incurred by the Reassured up to the date that an award has been made, in
      connection with the adjustment, settlement or compromise of any loss
      including expenses of litigation if any and all subrogation, salvage and
      recovery expenses; nor the salaries of employees and all office expenses
      of the Reassured.

      However, such expenses and costs may be included within, and have first
      priority in contributing to, either the Reassured's applicable retention
      of US$250,000 in respect of Sections (A), (B) and (C), where the
      applicable inuring reinsurances provided for pro-rata expenses and costs
      in addition to the limit; or the retention and the limits of the
      Reassured's underlying excess of loss programme as applicable and
      thereafter to the Reassured's applicable retention of US$250,000 in
      respect of Sections (A), (B) and (C) where the applicable inuring
      reinsurances provide for expenses and costs within the limit.

      All salvages and recoveries, including recoveries under all reinsurances
      which inure to the benefit of this Contract as warranted in ARTICLE 3,
      COVER LIMIT AND RETENTION, whether collected or not, shall first be
      deducted from such loss to arrive at the amount of the Reassured's
      Ultimate Net Loss for the purposes of this Contract.

      All salvages recoveries or payments recovered or received subsequent to a
      loss settlement under this Contract shall be applied as if recovered or
      received prior to the aforesaid settlement and all necessary adjustments
      shall be made by the parties hereto. However, nothing in the foregoing
      shall be construed as meaning that losses are not recoverable hereunder
      until the Reassured's Ultimate Net Loss has been ascertained.



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      For the purposes hereof, the Reassured's retention's and co-insurance's
      in their current reinsurance programme, as warranted in ARTICLE 3, COVER
      LIMIT AND RETENTION, shall be disregarded for the purpose of determining
      the Ultimate Net Loss hereunder. The Reassured shall have the benefit of
      underlying recoveries, if any, under all reinsurance contracts.

5.    ARTICLE 8, PREMIUM is amended to read as follows and not as heretofore:

                                   ARTICLE 8
      PREMIUM

      In consideration of the liabilities undertaken by the Reinsurers in
      accordance with the terms of this Contract, the Reassured shall pay the
      Reinsurers a premium for each Contract Year hereunder, calculated at the
      rate of 1.60% of the Reassured's subject matter Premium Income (being the
      sum of Intermed Insurance Company's Gross Net Earned Premium Income for
      original policies up to US$1,000,000 or so deemed, and Interlex Insurance
      Company's Gross Net Written Premium Income for original policies up to
      US$1,000,000 or so deemed, including Premium in respect of Defence Costs
      Allowance Rider on policy limits up to US$1,000,000) for the Contract
      Year under consideration, subject, however, to an annual Minimum and
      Deposit Premium of US$160,000 payable in four equal instalments on 1st
      October, 1996, 1st January, 1997, 1st April, 1997 and 1st July, 1997.

      Notwithstanding the above, the Minimum and Deposit Premium for subsequent
      Contract Years shall be as mutually agreed.

      Within 60 days following the end of each Contract Year, the Reassured
      shall report the reinsurance premium due, calculated at the rate
      stipulated above, but subject always to the applications of the Minimum
      Premium for that Contract Year. Any additional premium due in excess of
      the previously paid Minimum and Deposit Premium for that Contract Year
      shall be remitted to the Reinsurers concurrently with the report.

      The term "Gross Net Earned Premium Income" shall, for all purposes of
      this Contract, be understood to mean the full gross amount of the
      premiums charged by the Reassured to their original insureds for original
      policy limits of up to US$1,000,000 or so deemed as per the Reassured's
      Primary Excess of Loss Contracts, less cancellations and return premiums
      and less premiums paid for reinsurances, recoveries under which would
      inure to the benefit of this Contract, which is allocated by the
      Reassured as earned during the Contract Year under consideration.

      The term "Gross Net Written Premium Income" shall, for all purposes of
      this Contract, be understood to mean the full gross amount of the
      premiums charged by the Reassured to their original insureds for original
      policy limits of up to US$1,000,000 or so deemed, including Premium in
      respect of Defence Costs Allowance Rider on policy limits up to
      US$1,000,000 as per the Reassured's Primary Excess of Loss Contract, less
      cancellations and return premiums, and less premiums paid for
      reinsurances, recoveries under which would inure to the benefit of this
      Contract, which is allocated by the Reassured as written during the
      Contract Year under consideration.

6.    The participations of Reinsurers shall be as shown in the attached
      schedule and not as heretofore.


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      IN W1TNESS WHEREOF the parties hereto have, by their duly authorised
      representative, executed this Addendum as follows:

      Signed in Springfield, Missouri this 8th day of October 1996

      For and on behalf of the Reassured
      INTERMED INSURANCE COMPANY


      And for the Reinsurers by means of and in accordance with the attached
      schedule which shall be considered to form an integral part of this
      Addendum.