Document:

Endorsement No 1 effective June 1, 2015 to Interests And Liabilities Agreement

 

 
  

 EXHIBIT 10.61 

  
  

			
	ARP-HCI-02-CAT-202-14	  	
		
	DOC: June 3, 2015	  	

 

 
  

 ENDORSEMENT NO. 1 

to the 
 INTERESTS AND
LIABILITIES AGREEMENT 
 attaching to, and forming part of, the 

MULTI-YEAR CATASTROPHE EXCESS OF LOSS REINSURANCE CONTRACT 

(hereinafter called the “Contract”) 

EFFECTIVE: JUNE 1, 2014 

issued to 
 HOMEOWNERS CHOICE
PROPERTY & CASUALTY INSURANCE COMPANY, INC. 
 TAMPA, FLORIDA 

(hereinafter called the “Reinsured”) 

by 
 ENDURANCE SPECIALTY
INSURANCE LTD. 
 (hereinafter called, with other participants, the “Reinsurer”) 

Effective June 1, 2015, the Interests & Liabilities Agreement of the above Reinsurer shall be amended as follows: 

Under the terms of this Contract the above Reinsurer agrees to assume severally and not jointly with other participants 

 

					
	 Contract Year 1
	  	Participation	 
	 Excess Layer 3
	  	 	15.000	% 
	 Excess Layer 4
	  	 	15.000	% 

  

					
	 Contract Year 2
	  	Participation	 
	 Excess Layer 3
	  	 	9.632	% 
	 Excess Layer 4
	  	 	10.455	% 

 of the liability in the layer(s) described in the attached Contract including the same corresponding proportional
participation of the Reinsurers’ additional obligations set forth within the layer(s) upon which the Reinsurer participates described above. 
 All
other Terms and Conditions detailed on the original fully executed Interests & Liabilities Agreement shall remain unchanged. 

  
  

			
	ARP-HCI-02-CAT-202-14	  	I&L Endorsement No. 1 – ENDURB
		
	DOC: June 3, 2015	  	

 

 
  

 Signed in
                                , on this
             day of                     , 20    

 ENDURANCE SPECIALTY INSURANCE LTD. 

BY:                       
                                      

TITLE:                      
                                       

Signed in
                                , on this
             day of                     , 20    

 HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY, INC. 

TAMPA, FLORIDA 

BY:                       
                                      

TITLE:                      
                                       

  
  

			
	ARP-HCI-02-CAT-202-14	  	I&L Endorsement No. 1 – ENDURB
		
	DOC: June 3, 2015Endorsement No 2 effective June 1, 2015 to Working Layer Catastrophe Excess

 

 
  

 EXHIBIT 10.62 

  
  

			
	ARP-HCI-02-CAT-WRK-13	  	Endorsement No. 2 – BRK
		
	DOC: June 15, 2015	  	

 

 
  

 ENDORSEMENT NO. 2 

to the 
 WORKING LAYER
CATASTROPHE EXCESS OF LOSS REINSURANCE CONTRACT 
 (hereinafter called the “Contract”) 

EFFECTIVE: JUNE 1, 2013 

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, 2015, the Contract has been amended as follows: 

ARTICLE 4 – TERRITORY shall now read as follows: 

The territorial limits of this Contract shall be identical with those of the Reinsured’s Policies. 

Subparagraph (c) of Paragraph (1) of ARTICLE 6 – RETENTION AND LIMIT, 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, 2015, shall equal $46,000,000. 
 Sub-subparagraph (iii) of Subparagraph (a) of Paragraph (3) of ARTICLE 6 –
RETENTION AND LIMIT, shall now read as follows: 
 $58,000,000 for Contract Year effective June 1, 2015. 

PARAGRAPH (5) OF ARTICLE 13 – CONFIDENTIALITY shall read as follows: 

With regard to any personally identifiable information of the insured under the Reinsured’s Policy to which the Reinsurer or its
representatives may have access, the Reinsurer shall agree to be bound by the insurance privacy laws of the state in which the Policy is issued and any applicable U.S. federal law and shall keep such information secure in accordance with U.S.
insurance industry standards or that of the Reinsurer’s country of domicile, whichever standards are higher. 
 All other Terms and Conditions
remain unchanged. 

  
  

			
	ARP-HCI-02-CAT-WRK-13	  	Endorsement No. 2 – BRK
		
	DOC: June 15, 2015	  	

 

 
  

 Signed in
                                , on this
             day of                     , 2015 

NATIONAL LIABILITY & FIRE INSURANCE COMPANY 

BY:                       
                                      

TITLE:                      
                                       

Signed in
                                , on this
             day of                     , 2015 

HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY 

TAMPA, FLORIDA 

BY:                       
                                      

TITLE:                      
                                       

  
  

			
	ARP-HCI-02-CAT-WRK-13	  	Endorsement No. 2 – BRK
		
	DOC: June 15, 2015Endorsement No 3 effective June 1, 2015 to Working Layer Catastrophe Excess

 

 
  

 EXHIBIT 10.63 

**** indicates material that has been omitted pursuant to a request for confidential treatment. The omitted material has been filed separately with the U.S.
Securities and Exchange Commission. 

  
  

			
	ARP-HCI-02-CAT-WRK-13B	  	Endorsement No. 3 – CLAD
		
	DOC: June 15, 2015	  	

 

 
  

 ENDORSEMENT NO. 3 

to the 
 WORKING LAYER
CATASTROPHE EXCESS OF LOSS REINSURANCE CONTRACT 
 (hereinafter called the “Contract”) 

EFFECTIVE: JUNE 1, 2013 

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, 2015, the Contract has been amended as follows: 

ARTICLE 4 – TERRITORY shall now read as follows: 

The territorial limits of this Contract shall be identical with those of the Reinsured’s Policies. 

Subparagraph (c) of Paragraph (1) of ARTICLE 6 – RETENTION AND LIMIT, 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, 2015, shall equal $46,000,000. 
 Sub-subparagraph (iii) of Subparagraph (a) of Paragraph (3) of ARTICLE 6 –
RETENTION AND LIMIT, shall now read as follows: 
 20% of $58,000,000 for Contract Year effective June 1, 2015. 

Subparagraph (b) of Paragraph (3) of ARTICLE 6 – RETENTION AND LIMIT, shall now read as follows: 

For the Contract Year effective June 1, 2013, the Reinsurer’s Reinstatement Occurrence Limit shall be equal to zero. 

For the Contract Year effective June 1, 2014, the Reinsurer’s Reinstatement Occurrence Limit shall be equal to zero. 

For the Contract Year effective June 1, 2015, the Reinsurer’s Reinstatement Occurrence Limit shall be equal to zero. 

  
  

			
	ARP-HCI-02-CAT-WRK-13B	  	Endorsement No. 3 – CLAD
		
	DOC: June 15, 2015	  	

 

 
  

 For the Contract Year effective June 1, 2016, the Reinsurer’s Reinstatement
Occurrence Limit shall be equal to 20% of $30,000,000. 
 For the Contract Year effective June 1, 2017, the Reinsurer’s
Reinstatement Occurrence Limit shall be equal to 20% of $30,000,000. 
 ARTICLE 7 – REINSURANCE PREMIUM, shall now read as follows: 

For the Contract Year effective June 1, 2013, the Reinsured shall pay the Reinsurer an annual premium of $**** payable on June 1,
2013. 
 For the Contract Year effective June 1, 2014, the Reinsured shall pay the Reinsurer an annual premium of $**** payable on
June 1, 2014. 
 For the Contract Year effective June 1, 2015, the Reinsured shall pay the Reinsurer an annual premium of $****
payable on June 1, 2015. 
 For the Contract Year effective June 1, 2016, the Reinsured shall pay the Reinsurer an annual premium
of 20% of $**** payable on June 1, 2016. 
 For the Contract Year effective June 1, 2017, the Reinsured shall pay the Reinsurer an
annual premium of 20% of $**** payable on June 1, 2017. 
 Subparagraph (b) of Paragraph (1) of ARTICLE 8 – EXPERIENCE
ACCOUNT, shall now read as follows: 
 Accrued reinsurer margin equal to 22.0779% of premium earned; less 

Paragraph (1) of ARTICLE 14 – COLLATERAL, shall now read as follows: 

For the Contract Year effective June 1, 2013, as promptly as possible following execution of this Contract, the Reinsurer (as Grantor)
shall enter into a Trust Agreement (the “Trust Agreement”) with the Reinsured (as Beneficiary) and the trustee, pursuant to which the Reinsurer shall provide collateral in the form of eligible Assets deposited and held in a Trust Account,
with such Assets having a market value greater than or equal to $6,000,000 (the “Collateral”). It is understood that the flat premium of $**** shall be deposited into the Trust Account. 

For the Contract Year effective June 1, 2014, as promptly as possible following execution of this Contract, the Reinsurer (as Grantor)
shall enter into a Trust Agreement (the “Trust Agreement”) with the Reinsured (as Beneficiary) and the trustee, pursuant to which the Reinsurer shall provide collateral in the form of eligible Assets deposited and held in a Trust Account,
with such Assets having a market value greater than or equal to $8,800,000 (the “Collateral”). It is understood that the flat premium of $**** shall be deposited into the Trust Account. 

For the Contract Year effective June 1, 2015, as promptly as possible following execution of this Contract, the Reinsurer (as Grantor)
shall enter into a Trust Agreement (the “Trust Agreement”) with the Reinsured (as Beneficiary) and the trustee, pursuant to which the 

  
  

			
	ARP-HCI-02-CAT-WRK-13B	  	Endorsement No. 3 – CLAD
		
	DOC: June 15, 2015	  	

 

 
  

 
Reinsurer shall provide collateral in the form of eligible Assets deposited and held in a Trust Account, with such Assets having a market value greater than or equal to $11,600,000 (the
“Collateral”). It is understood that the flat premium of $**** shall be deposited into the Trust Account. 
 For each subsequent
Contract Year, the Reinsurer shall provide collateral in the form of eligible Assets deposited and held in a Trust Account, with such Assets having a market value greater than or equal to the total annual limit of liability detailed in the Retention
and Limit Article less the annual premium detailed in the Reinsurance Premium Article (the “Collateral”). It is understood that the annual premium detailed in the Reinsurance Premium Article shall be deposited into the Trust Account. 

PARAGRAPH (5) OF ARTICLE 16 – CONFIDENTIALITY shall read as follows: 

With regard to any personally identifiable information of the insured under the Reinsured’s Policy to which the Reinsurer or its
representatives may have access, the Reinsurer shall agree to be bound by the insurance privacy laws of the state in which the Policy is issued and any applicable U.S. federal law and shall keep such information secure in accordance with U.S.
insurance industry standards or that of the Reinsurer’s country of domicile, whichever standards are higher. 
 All other Terms and Conditions
remain unchanged. 
 Signed in
                                , on this
             day of                     , 2015 

CLADDAUGH CASUALTY INSURANCE COMPANY, LTD. 

BY:                       
                                      

TITLE:                      
                                       

Signed in
                                , on this
             day of                     , 2015 

HOMEOWNERS CHOICE PROPERTY & CASUALTY INSURANCE COMPANY 

TAMPA, FLORIDA 

BY:                       
                                      

TITLE:                      
                                       

  
  

			
	ARP-HCI-02-CAT-WRK-13B	  	Endorsement No. 3 – CLAD
		
	DOC: June 15, 2015

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