<PAGE>

                AGGREGATE EXCESS OF LOSS REINSURANCE AGREEMENT
                                    BETWEEN

 ASSOCIATED GENERAL CONTRACTORS SELF INSURERS TRUST FUND (FUND ID #59-2445257)
                                 (the Company)

                                      AND

                           RELIANCE INSURANCE COMPANY
                                (the Reinsurer)

TYPE:               Aggregate Excess of Loss Reinsurance

REINSURER'S SHARE:  One-hundred percent (100%).

EFFECTIVE DATE:     December 31, 1991.

COVERAGE:           In consideration of the premium payment from the Company,
                    the Reinsurer agrees to indemnify the Company for
                    Ultimate Net Loss in the Subject Business in excess of the
                    Company's Retention occurring in the Coverage Period,
                    regardless of when reported, for which the Company is or
                    becomes obligated to pay.

SUBJECT BUSINESS:   Workers' Compensation and Employers' Liability coverages
                    provided by the Company effective during the Coverage
                    Period.

COVERAGE PERIOD:    January 1, 1985, through December 31, 1991.

COMPANY'S           The Company's Retention is the Company's liabilities for
RETENTION:          Ultimate Net Loss, whether or not paid or payable by the
                    Company, less the Aggregate Limit of the reinsurance. The
                    Company's Retention as of December 31, 1991 shall be  * .
                    The Company's Retention shall be adjusted annually
                    thereafter to reflect loss development and a new Retention
                    shall be established. Adjustments shall be made in
                    accordance with the Settlement Account to reflect changes in
                    the Company's Retention as it may affect payment made or due
                    in accordance with Remittances.

                    Any adjustment to the Company's Retention will be used in
                    settling losses hereunder in accordance with the
                    provision for Remittances.

                    *  As reflected per Shores and Company's final audited
                    financial statements.

AGGREGATE LIMIT:    Twenty-one million dollars ($21,000,000).

REINSURANCE         Thirteen million, nine hundred twenty-five thousand dollars
PREMIUM:            ($13,925,000), including commissions and applicable
                    taxes, payable no later than July 31, 1992. The Company
                    shall pay to the Reinsurer accrued interest at the rate of
                    one percent (1%) per month from


                                 Page 1 of 13
<PAGE>

                    December 31, 1991 to the date the Reinsurance Premium is
                    paid.

ULTIMATE NET LOSS:  The Company's Ultimate Net Loss includes all claims
                    arising from occurrences in the Subject Business during the
                    Coverage Period, and expenses directly related to the
                    adjustment of claims incurred, regardless of when reported,
                    during the coverage period. Such expenses shall include, but
                    not to be limited to, expenses and costs associated with
                    policy coverage disputes, pre-judgment interest, and
                    expenses incurred in connection with subrogation. Ultimate
                    Net Loss shall be adjusted to reflect recoverables, either
                    collected or uncollected, under specific excess insurance,
                    and subrogation recoveries, but shall not be adjusted to
                    include recoverables, either collected or uncollected, under
                    the Special Disability Fund (SDF). Judgments in Excess of
                    Policy Limits and Extra Contractual Obligations are included
                    in determining the Company's Ultimate Net Loss.

COMMUTATION:        At any time the Company has the option to commute the
                    Reinsurers' liability and relieve the Reinsurer of all
                    further liability. In the event the Company elects to
                    commute this Agreement, the Reinsurer shall pay to the
                    Company the balance in the Experience Account.

EXPERIENCE ACCOUNT: An Experience Account shall be established by the
                    Reinsurer and maintained during the term of this Agreement.
                    The Experience Account shall consist of (a) ninety percent
                    (90%) of the Reinsurance Premium received, less (b) actual
                    losses paid by the Reinsurer, plus (c) interest on the
                    average account balance calculated and credited at each
                    December 31 at the rate of ninety percent (90%) of the last
                    published One Year U.S. Treasury Bill Rate (as published in
                    The Wall Street Journal) on the date the Reinsurance Premium
                    is received by the Reinsurer and annually thereafter.

REPORTS:            The Company shall report monthly to the Reinsurer the
                    Company's account of losses and expenses paid and
                    outstanding, under the Subject Business coverage. Such
                    account statement shall include a Summary Report by policy
                    year on a monthly basis and a detailed report by policy year
                    on a quarterly basis, containing all relevant information as
                    per the attached CRIMS Reports.

                    The Company shall furnish to the Reinsurer within statutory
                    filing time after the close of each calendar year an
                    actuarially-certified projection of the Company's Ultimate
                    Net Loss. This projection must be certified by an Associate
                    of the Casualty Actuarial Society. The Ultimate Net Loss
                    must be based on paid and incurred loss data valued through
                    December 31st of the most recent year.

REMITTANCES:        The Reinsurers' payments under this Agreement will be made
                    within forty-five (45) days of the receipt of the calendar
                    quarterly account statements once the Company's Retention
                    has been exceeded.


                                 Page 2 of 13
<PAGE>

ADJUSTMENTS TO      Any remittances determined by the projection of Ultimate
REMITTANCES:        Net Loss made hereunder shall not be final as regards future
                    Company Retention levels. Such remittances shall be
                    reconciled through the Settlement Account.

SETTLEMENT ACCOUNT: An account shall be maintained by the Reinsurer for the
                    purpose of reconciling adjustments to the Company's
                    Retention subsequent to reinsurance remittances.

                    Adjustments shall be made as follows: (1) Additional
                    remittance payments plus interest credit shall be made at
                    the next remittance payment period; (2) Over-remittance
                    to date plus interest credit shall offset subsequent
                    reinsurance payments.

                    The interest applied to (1) or (2) above shall be based
                    on the average prime rate plus 200 basis points for that
                    payment period.

DISCLOSURES         With respect to this Agreement and the transactions
AND APPROVALS:      hereunder, the Company represents and agrees that it has
                    made or obtained, or will make or obtain, all disclosures
                    and approvals that are, in the opinion of its counsel,
                    necessary and appropriate under applicable law.

INSOLVENCY:         The Insolvency Clause attached hereto (Exhibit 1) is
                    incorporated herein.

EXCLUSIONS:         A.  Reinsurance Assumed
(Exhibit 2)         B.  Pools, Syndicates and Associations
                    C.  Insolvency Funds
                    D.  Medical Malpractice Liability
                    E.  War
                    F.  Member Assessments

OTHER:              A.  Access to Records
(Exhibit 3)         B.  Agreement not assignable
                    C.  Arbitration
                    D.  Choice of Law: Florida
                    E.  Entire Agreement
                    F.  Errors and Omissions
                    G.  Right of Offset
                    H.  Headings


                                 Page 3 of 13
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Binder of
Reinsurance to be executed by their duly authorized representatives in
Orlando, Florida this 27th day of JULY, 1992.

     ASSOCIATED GENERAL CONTRACTORS SELF INSURERS TRUST FUND (FUND ID
#59-2445257)


BY: /s/ Ronald J. Morrick              BY: /s/ Doris M. Oberhardt
   --------------------------             --------------------------

NAME: Ronald J. Morrick                NAME: Doris M. Oberhardt
     ------------------------               ------------------------

TITLE: Chairman                        TITLE: Administrator
      -----------------------                -----------------------

This 27th day of July, 1992.


     RELIANCE INSURANCE COMPANY


ATTEST: /s/ (illegible)                BY: /s/ Jeffrey DiTieri
       ----------------------             --------------------------

NAME: (illegible)                      NAME: Jeffrey DiTieri
     ------------------------               ------------------------

TITLE: Asst Gen Counsel                TITLE: Vice President
      -----------------------                -----------------------

                                 Page 4 of 13

<PAGE>


                                   EXHIBIT 1

                                  INSOLVENCY

In the event of the insolvency of the Company, this reinsurance shall be
payable directly to the Company, or to its liquidator, receiver, conservator
or statutory successor on the basis of the liability of the Reinsurer to the
Company, within the timing and terms of this Agreement, and without
diminution because of the insolvency of the Company or without diminution
because the liquidator, receiver, conservator or statutory successor of the
Company has failed to pay all or a portion of any claim, not withstanding any
provisions of this Agreement to the contrary.

The liquidator, receiver, conservator or statutory successor of the Company
shall give written notice to the Reinsurer of the pendency of a claim against
the Company which would involve a possible liability on the part of the
Reinsurer, such notice to be given within a reasonable time after such claim
is filed in the conservation or liquidation proceeding or in the
receivership, and that during the pendency of such claim, the Reinsurer may
investigate such claim and interpose, at its own expense, in the proceeding
where such claim is to be adjudicated, any defense or defenses that the
Reinsurer deems available to the Company, or its liquidator, receiver,
conservator or statutory successor. The expense thus incurred by the
Reinsurer shall be chargeable, subject to the approval of the court, against
the Company as part of the expense of conservation or liquidation to the
extent of a pro rata share of the benefit which may accrue to the Company
solely as a result of the defense undertaken by the Reinsurer.

Where two or more reinsurers are involved in the same claim and a majority in
interest elect to interpose defense to such claim, the expense shall be
apportioned in accordance with the terms of the reinsurance Agreement as
though such expense had been incurred by the Company.

The reinsurance shall be payable by the Reinsurer to the Company or to its
liquidator, receiver, conservator or statutory successor, (except as provided
by applicable Insurance Law or) except (a) where the Agreement specifically
provides another payee of such reinsurance in the event of the insolvency of
the Company, and (b) where the Reinsurer with the consent of the direct
insured or insureds has assumed such policy obligations of the Company as
direct obligations of the Reinsurer to the payees under such policies and in
substitution for the obligations of the Company to such payees.


                                 Page 5 of 13

<PAGE>

                                   EXHIBIT 2

                                   EXCLUSIONS

A.  REINSURANCE ASSUMED BY THE COMPANY
    This Agreement does not apply to any reinsurance assumed by the Company
    whether directly or indirectly.

B.  POOLS, SYNDICATES AND ASSOCIATIONS
    This Agreement does not apply to any liabilities assumed (whether
    voluntarily or involuntarily) from any Pool, Association, Syndicate or
    other facility (other than the liabilities of the Company itself) that
    maintain their own underwriting facilities.

C.  INSOLVENCY FUNDS
    This Agreement does not apply to any liabilities arising by contract,
    operation of law, or otherwise, from the Company's participation in any
    Insolvency Fund. "Insolvency Fund" shall mean any guarantee fund,
    insolvency fund, plan, pool, association or other arrangement however
    denominated or established that provides for any assessment of or payment
    or assumption by the Company of all or part of any claim, debt, charge,
    fee, or other obligation of an insurer, fund or employer, or any of their
    successors or assigns, that is unable to meet any claim, debt, charge,
    fee or other obligation in whole or in part due to its insolvency or due
    to it having been declared insolvent or bankrupt.

D.  MEDICAL MALPRACTICE LIABILITY
    This Agreement shall not apply to any liabilities arising out of the
    rendering or failing to render any medical services by a physician or
    other providers of medical services, or arising out of any error or
    omission in the performance thereof by a physician or other providers of
    medical services.

E.  WAR
    This Agreement shall not apply to any claim which is occasioned by war,
    invasion, hostilities, acts of foreign enemies, civil war, rebellion,
    insurrection, military or usurped power, or martial law. This shall not
    apply to riots, strikes, civil commotion, vandalism, or malicious mischief.

F.  MEMBER ASSESSMENTS

    This Agreement does not apply to member assessments under Section
    38F-5.065 (5) of the Rules for Self-Insurers under the Workers'
    Compensation Act in the State of Florida.


                                 Page 6 of 13

<PAGE>

                                   EXHIBIT 3

                                     OTHER

A.  ACCESS TO RECORDS
    Reinsurer shall have the right at any reasonable time upon five (5)
    working days prior notice during or at any time after the expiration of
    this Agreement, and as frequently as deemed reasonably necessary by
    Reinsurer, to visit the offices of Company to inspect, examine, audit, and
    verify any of the policy or claim files ("records") relating to the
    business reinsured under this Agreement. Reinsurer shall have the right to
    make, at its own expense, copies or extracts of any records.
    Notwithstanding the above, Reinsurer shall not have any right of access to
    the records of Company if it is not current in all payments due to Company
    and Company shall have no right to reimbursement under this Agreement if
    it fails or refuses to provide the reasonable access required by this
    section other than by reason of Reinsurer's failure to pay.  Reinsurer
    shall keep confidential all information and reports derived from the
    records of Company to which it has received access and shall not publish or
    communicate that information or report(s) to any other person or reinsurer
    without Company's express prior written consent. Reinsurer shall promptly
    upon Company's request deliver a complete copy of any report(s) concerning
    the records and information to which it has received access.

B.  AGREEMENT NOT ASSIGNABLE
    This Agreement shall be binding upon and inure to the benefit of Company
    and Reinsurer and their respective successors and assigns provided,
    however, that this Agreement may not be assigned by either Company or
    Reinsurer without the prior written consent of the other which consent may
    be withheld by either party in its sole unfettered discretion. Except as
    expressly provided for in the Clause entitled INSOLVENCY, the provisions of
    this Agreement are intended solely for the benefit of Company and
    Reinsurer. Nothing in this Agreement shall in any manner create or be
    construed to create any obligations to or establish any rights against any
    party to this Agreement in favor of any other persons not party to this
    Agreement.

C.  ARBITRATION
    As a condition precedent to any cause of action, any and all disputes
    between Company and Reinsurer arising out of, relating to, or concerning
    this Agreement, whether sounding in contract or tort and whether arising
    during or after termination of this Agreement, shall be submitted to the
    decision of a board of arbitration composed of two arbitrators and an
    umpire ("Board") meeting at a site in Orange County, Florida. The
    arbitration shall be conducted under the Federal Arbitration Act and shall
    proceed as follows:


                                 Page 7 of 13

<PAGE>

    1.  SUBMISSION TO ARBITRATION.  A notice requesting arbitration, or any
    other notice made in connection therewith, shall be in writing and shall be
    sent certified or registered mail, return receipt requested to the affected
    parties. The notice requesting arbitration shall state in particulars all
    issues to be resolved in the view of the claimant, shall appoint the
    arbitrator selected by the claimant and shall set a tentative date for the
    hearing, which date shall be no sooner than ninety (90) days and no later
    than one hundred fifty (150) days from the date that the notice requesting
    arbitration is mailed. Within thirty (30) days of receipt of claimant's
    notice, the respondent shall notify claimant of any additional issues to be
    resolved in the arbitration and of the name of its appointed arbitrator.

    2.  ARBITRATION BOARD MEMBERSHIP.  Unless otherwise mutually agreed, the
    members of the Board shall be impartial and disinterested and shall be
    active or retired lawyers, familiar with insurance and reinsurance, or
    active or retired officers of property-casualty insurance companies,
    reinsurance companies, or Lloyds Underwriters. Company and Reinsurer as
    aforesaid shall each appoint an arbitrator and the two (2) arbitrators
    shall choose an umpire before instituting the hearing. As time is of the
    essence, if the respondent fails to appoint its arbitrator within thirty
    (30) days after having received claimant's written request for arbitration,
    the claimant is authorized to and shall appoint the second arbitrator if
    the two arbitrators fail to agree upon the appointment of an umpire within
    thirty (30) days after notification of the appointment of the second
    arbitrator, within ten (10) days thereof, the two (2) arbitrators shall
    request the American Arbitration Association ("AAA") to appoint an umpire
    for the arbitration with the qualifications set forth above in this
    Article. If the AAA fails to name an umpire, either party may apply to the
    court named below to appoint an umpire with the above required
    qualifications. The umpire shall promptly notify in writing all parties to
    the arbitration of his selection and of the scheduled date for the hearing.
    Upon resignation or death of any member of the Board, a replacement shall
    be appointed in the same fashion as the resigning or decreased member was
    appointed.

    3.  SUBMISSION OF BRIEFS.  The claimant and respondent shall each submit
    initial briefs to the Board outlining the issues in dispute and the basis,
    authority, and reasons for their respective positions within thirty (30)
    days of the date of notice of appointment of the umpire. The claimant and
    the respondent may submit reply briefs to the Board within ten (10) days
    after filing of the initial briefs(s). Initial and reply briefs may be
    amended by the submitting party at any time, but not later than ten (10)
    days prior to the date of commencement of the arbitration hearing.
    Reasonable responses shall be allowed at the arbitration hearing to new
    material contained in any amendments filed to the briefs but not previously
    responded to.

    4.  ARBITRATION AWARD.  The Board shall make a decision and award with
    regard to the terms of this Agreement, the original intentions of the
    parties to the extent reasonably ascertainable, and the custom and usage
    of the property and casualty insurance and reinsurance business which
    decision and award shall be in writing and shall state the factual and
    legal basis for the decision and award. The decision and award shall be
    based upon a hearing in which evidence shall be allowed and which the
    formal rules of evidence shall not strictly apply but in which cross
    examination and rebuttal shall be allowed. At its own election or at


                                 Page 8 of 13

<PAGE>

    the request of the Board, either party may submit a post-hearing brief
    for consideration of the Board within twenty (20) days of the close of the
    hearing. The Board shall make its decision and award within thirty (30)
    days following the close of the hearing or the submission of post-hearing
    briefs, whichever is later, unless the parties consent to an extension.
    Every decision by the Board shall be by a majority of the members of the
    Board and each decision and award by the majority of the members of the
    board shall be final and binding upon all parties to the proceeding.
    Either party may apply to the Circuit Court in and for Orange County,
    Florida for an order confirming any decision and the award; a judgment of
    that Court shall thereupon be entered on any decision or award. If such an
    order is issued, the attorneys' fees of the party so applying and court
    costs will be paid by the party against whom confirmation is sought. The
    Board may award interest at a rate of two hundred (200) basis points
    above the prime rate as published in The Wall Street Journal on the date of
    the award of the Board calculated from the date the Board determines that
    any amounts due the prevailing party should have been paid to the
    prevailing party should have been paid to the prevailing party but may not
    award punitive, exemplary, or treble damages.

    5.  ARBITRATION EXPENSE.  Each party shall bear the expense of the one
    arbitrator appointed by it and shall jointly and equally bear with the
    other party the expense of any stenographer requested, and of the umpire.
    The remaining costs of the arbitration proceedings shall be finally
    allocated by the Board.

    6.  EVIDENCE.  Subject to customary and recognized legal rules of
    privilege, each party participating in the arbitration shall have the
    obligation to produce those documents and as witnesses to the arbitration
    those of its employees, those of its affiliates, and those of any
    intermediary or underwriting manager as any other participating party
    reasonably requests providing always that the same witnesses and documents
    be obtainable and relevant to the issues before the arbitration and not be
    unduly burdensome or excessive. The parties may mutually agree as to
    pre-hearing discovery prior to the arbitration hearing and in the absence
    of agreement, upon the request of any party, pre-hearing discovery may be
    conducted as the umpire shall determine in his/her sole discretion to be in
    the interest of fairness, full disclosure, and a prompt hearing, decision
    and award by the Board. The umpire shall be the final judge of the
    procedures of the Board, the conduct of the arbitration, of the rules of
    evidence, the rules of privilege and production and of excessiveness and
    relevancy of any witnesses and documents upon the petition of any
    participating party. To the extent permitted by law, the Board and the
    umpire shall have the authority to issue subpoenas and other orders to
    enforce their decisions.

    7.  EQUITABLE RELIEF.  Nothing herein shall be construed to prevent any
    participating party from applying to the Circuit Court in and for Orange
    County, Florida to issue a restraining order or other equitable relief to
    maintain the "status quo" of the parties participating in the arbitration
    pending the decision and award by the Board or to prevent any party from
    incurring irreparable harm or damage at any time prior to the decision and
    award of the Board. The Board shall also have the authority to issue
    interim decisions or awards in the interest of fairness, full disclosure,
    and a prompt and orderly hearing and decision and award by the Board.


                                 Page 9 of 13

<PAGE>

D.  CHOICE OF LAW
    This Agreement shall be construed according to the laws of the State of
    Florida with venue in Orange County, Florida.

E.  ENTIRE AGREEMENT
    This Agreement supersedes and merges with any and all previous
    agreements, whether written or oral, between Company and Reinsurer, or
    their predecessors with respect to this reinsurance of Company by Reinsurer
    effective December 31, 1991 and constitutes the full and complete Agreement
    between the parties with respect to that reinsurance. No amendment to this
    Agreement shall be valid unless in writing and signed by both parties.

F.  ERRORS OR OMISSIONS
    Any inadvertent act, neglect, delay, omission, or error by either party
    to this Agreement, including its representatives, will not be held to
    relieve either party to this Agreement from any liability that would attach
    to it under this Agreement if that act, neglect, delay, omission, or error
    had not been made, providing that act, neglect, delay, omission, or error
    is sought to be rectified immediately upon discovery.

G.  RIGHT OF OFFSET
    All amounts due either Company or Reinsurer, whether by reason of
    premium, commission, loss, ultimate net loss or allocated loss expense, or
    otherwise, under this Agreement or any other Agreement later in force
    between Reinsurer and Company, whether as ceding company, reinsurer or
    otherwise, shall be subject to the right of recoupment and offset and upon
    the exercise of the same, only the net balance shall be due. All claims for
    amounts of premium, commission, loss, ultimate net loss or allocated loss
    expense, whether or not fixed in amount at the time of the insolvency of
    any party to this Agreement, arising from coverage placed in effect under
    this Agreement prior to the insolvency of any party to this Agreement shall
    be deemed pre-liquidation debts and subject to this Article. In the event
    of insolvency of Company, offset shall be in accord with applicable law.

H.  HEADINGS
    The headings preceding the text of the Clauses and paragraphs of this
    Agreement are intended and inserted solely for the convenience of
    references and shall not affect the meaning, interpretation, construction
    or effect of this Agreement.


                                 Page 10 of 13

<PAGE>


<TABLE>
<CAPTION>

                                              CRIMS

                                      1 UNDERWRITING REPORT

FUND:  880 ASSOCIATED GENERAL CONTRACTORS SELF INSURERS FUND
FUND YEAR:  1989
----------------------------------------------------------------------------------------------------------------------------------
                                                                                                                            OUT-
                                              IN-         IN-                                                               STAND-
                                              JURY        JURY    CODES LOST   DATE   COMPEN-               TOTAL   TOTAL   ING
EMPLR DIV CASE   CLAIMANT         SOC SEC     DATE    O/C NAT PRT CAU   TIME RECEIVED SATION  MEDICAL OTHER PAID  INCURRED  RES
----------------------------------------------------------------------------------------------------------------------------------
<S>   <C> <C>    <C>              <C>         <C>     <C> <C> <C> <C>   <C>  <C>      <C>     <C>     <C>   <C>   <C>       <C>
419       507202 BULMER, MICHAEL  ###-##-#### 9/28/89  C   81 32  11     N   10/04/89   .00      .00    .00    .00     .00   .00
----------------------------------------------------------------------------------------------------------------------------------
1444      507767 STADFELD         ###-##-#### 10/18/89 C   81 32  11     N   11/20/89   .00   165.09    .00 165.09  165.09   .00
----------------------------------------------------------------------------------------------------------------------------------

</TABLE>


1  Report information to be reconciled by Agreement.




                                 Page 11 of 13

<PAGE>


<TABLE>
<CAPTION>
                                                                         CRIMS

                                                                    1 REFUND REPORT

FUND:  880 ASSOCIATED GENERAL CONTRACTORS SELF INSURERS FUND        FUND YEAR:  1989



----------------------------------------------------------------------------------------------------------------------------------
                                                                                                           ACCEPTED CLAIMS
                                                                                               -----------------------------------
                                                                            REIM-      UNFILED    UNFILED
                                                          DATE         BURSEMENTS FROM  EST.       EST.
                                   ACCIDENT    TOTAL    NOTIFIED/       REFUND STATUS   REIM-      REIM-      AMOUNT       AMOUNT
EMPLR  DIV  CASE   NAME              DATE    INCURRED   ACCEPTED  CODE  SDF ATTORNEY  BURSEMENT  BURSEMENT  UNCOLLECTED  COLLECTED
----------------------------------------------------------------------------------------------------------------------------------
<S>    <C>  <C>    <C>             <C>       <C>        <C>       <C>   <C>           <C>        <C>        <C>          <C>

630         507602 BRYANT, JOHNNY  10/30/89  127,000.00 0/00/00   09    SPECIAL DISA-  50,800.00               .00
                                                                        BILITY FUND
                                                                        MERGER
----------------------------------------------------------------------------------------------------------------------------------
106         506453 CARROLL, ROGER  7/27/89    94,677.37 2/22/91   05    SPECIAL DISA-  75,000.00
                                                                        BILITY FUND
                                                                        AFFIDAVIT/
                                                                        MERGER
----------------------------------------------------------------------------------------------------------------------------------

</TABLE>




1  Report information to be reconciled by Agreement



                                 Page 12 of 13


<PAGE>

                         1  SPECIFIC EXCESS CLAIMS

                              AGC 1/1/89 - 1/1/90
                                     AS OF
                                  DEC 31, 1991

<TABLE>
<CAPTION>
                                                            Individual    Excess Over
Claimant            Paid         Reserve         Total      Retention      Retention

<S>              <C>          <C>            <C>            <C>          <C>
J. DANIELS       379,840.92   1,150,159.08   1,530,000.00   500,000.00   1,030,000.00
505474
D/A 5/3/89

R. HOFFMAN       356,819.76     227,180.24     584,000.00   500,000.00      84,000.00
508187
D/A 10/16/89
                 ----------   ------------   ------------   ----------   ------------
                 379,840.92   1,150,159.08   1,530,000.00   500,000.00

                            SPECIFIC EXCESS OVER RETENTION               1,114,000.00
</TABLE>

                1  Report information to be reconciled by Agreement


                                 Page 13 of 13