Document:

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                                                                   EXHIBIT 10.28

                                                           CARVILL AMERICA, INC.
                                                         The Pinnacle, Suite 375
                                                         3455 Peachtree Road, NE
                                                          Atlanta, Georgia 30326
                                                         Telephone: 404-475-0314
                                                         Facsimile: 404-475-0439

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<S>                   <C>
TITLE                 EXCESS CESSION REINSURANCE CONTRACT

BETWEEN               DARWIN NATIONAL ASSURANCE COMPANY,
                      DARWIN SELECT INSURANCE COMPANY,
                      CAPITOL INDEMNITY CORPORATION, CAPITOL
                      SPECIALTY INSURANCE CORPORATION,
                      PLATTE RIVER INSURANCE COMPANY AND/OR
                      ANY OTHER ASSOCIATED, AFFILIATED OR
                      SUBSIDIARY COMPANIES OF ALLEGHANY
                      INSURANCE HOLDING LLC, BUT ONLY IN
                      RESPECT OF BUSINESS UNDERWRITTEN BY
                      DARWIN PROFESSIONAL UNDERWRITERS, INC.

                      AND

                      THE REINSURERS SIGNATORY HERETO

COMMENCING            JANUARY 1, 2005

U.S. CLASSIFICATION   U.S. REINSURANCE
</TABLE>

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                                    CONTENTS

<TABLE>
<CAPTION>
PREAMBLE   IDENTITY OF PARTIES
--------   -------------------
<S>                                                                          <C>
ARTICLE 1  BUSINESS REINSURED.............................................    1
ARTICLE 2  EXCLUSIONS.....................................................    1
ARTICLE 3  COVER, LIMIT AND RETENTION.....................................    3
ARTICLE 4  TERRITORIAL SCOPE..............................................    4
ARTICLE 5  PERIOD.........................................................    4
ARTICLE 6  SPECIAL TERMINATION CLAUSE.....................................    5
ARTICLE 7  FOLLOW THE FORTUNES............................................    6
ARTICLE 8  LOSS RATIO CAP.................................................    6
ARTICLE 9  EXCESS OF ORIGINAL POLICY LIMITS...............................    6
ARTICLE 10 EXTRA-CONTRACTUAL OBLIGATIONS..................................    7
ARTICLE 11 PREMIUM........................................................    8
ARTICLE 12 CEDING COMMISSION..............................................    8
ARTICLE 13 ACCOUNTS AND REPORTS...........................................    9
ARTICLE 14 NOTICE OF LOSS AND LOSS SETTLEMENTS............................    9
ARTICLE 15 INTEREST PENALTY...............................................   10
ARTICLE 16 LOSS AND UNEARNED PREMIUM RESERVES.............................   11
ARTICLE 17 CURRENCY.......................................................   13
ARTICLE 18 TAX PROVISIONS.................................................   13
ARTICLE 19 INSOLVENCY OF THE REASSURED....................................   14
ARTICLE 20 OFFSET.........................................................   15
ARTICLE 21 DELAYS, ERRORS AND OMISSIONS...................................   15
ARTICLE 22 AMENDMENTS AND ALTERATIONS.....................................   15
ARTICLE 23 ACCESS TO RECORDS AND CLAIMS REVIEW............................   15
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<TABLE>
<S>                                                                          <C>
ARTICLE 24 ARBITRATION....................................................   16
ARTICLE 25 SERVICE OF SUIT................................................   17
ARTICLE 26 CONFIDENTIALITY................................................   18
ARTICLE 27 REGULATORY COMPLIANCE..........................................   18
ARTICLE 28 INTERMEDIARY...................................................   18
ARTICLE 29 GOVERNING LAW..................................................   19
ARTICLE 30 PARTICIPATION..................................................   19
ARTICLE 31 SEVERAL LIABILITY NOTICE.......................................   19
</TABLE>

ATTACHMENTS:

1.   NUCLEAR INCIDENT EXCLUSION CLAUSES - LIABILITY - REINSURANCE -
     U.S.A./CANADA

2.   NUCLEAR ENERGY RISKS EXCLUSION CLAUSE - REINSURANCE - 1994 - (WORLDWIDE
     excluding U.S.A. and CANADA)

                                       ii

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                       EXCESS CESSION REINSURANCE CONTRACT

PREAMBLE

This Contract is made and entered into between Darwin National Assurance
Company, Darwin Select Insurance Company, Capitol Indemnity Corporation, Capitol
Specialty Insurance Corporation, Platte River Insurance Company and/or any other
associated, affiliated or subsidiary companies of Alleghany Insurance Holding
LLC, but only in respect of business underwritten by Darwin Professional
Underwriters Inc. of 76 Batterson Park Road, Farmington, Connecticut 06032 (NAIC
Group Code 10472) (hereinafter referred to as "the Reassured") and the
Reinsurers signatory hereto (hereinafter referred to as "the Reinsurers"), on
the following terms and conditions:

                                    ARTICLE 1

                               BUSINESS REINSURED

This Contract applies to policies of insurance classified by the Reassured as
Directors' & Officers' Liability, Fiduciary Liability, Employment Practices
Liability, Managed Care Organizations Errors and Omissions Liability, Insurance
Agents Errors and Omissions Liability, Lawyers Professional Liability (subject
to Exclusion 8 herein) and Miscellaneous Professional Liability.

For the purposes of this Contract, the terms "policy", "policies" or "original
policies" as used herein shall be understood to mean all binders, policies,
contracts, endorsements or other evidence of insurance issued in the name of the
Reassured.

                                    ARTICLE 2

                                   EXCLUSIONS

This Contract does not apply to and absolutely excludes the following:

1.   Nuclear Incidents, in accordance with the Nuclear Incident Exclusion
     Clauses - Liability - Reinsurance - U.S.A./Canada - as attached.

2.   Nuclear Energy Risks, in accordance with the Nuclear Energy Risks Exclusion
     Clause (Reinsurance) (1994) (Worldwide excluding U.S.A. and Canada) - as
     attached.

3.   All liability of the Reassured arising by contract, operation of law, or
     otherwise, from its participation or membership, whether voluntary or
     involuntary, in any Insolvency Fund. "Insolvency Fund" includes any
     guarantee fund, insolvency fund, plan, pool, association, fund or other
     arrangement, howsoever denominated, established or governed, which provides
     for any assessment of or payment or assumption by the Reassured of part or
     all of any claim, debt, charge, fee or other obligation of an insurer, or
     its successors or assigns, which has been declared by

<PAGE>

     any competent authority to be insolvent, or which is otherwise deemed
     unable to meet any claim, debt, charge, fee or other obligation in whole or
     in part.

4.   Liability assumed by the Reassured as a Member or Reinsurer of any Pool,
     Association or Syndicate.

5.   Financial Guarantee and Insolvency Insurance.

6.   Surety Business.

7.   Reinsurance Assumed Business, other than policies "fronted" by another
     carrier and individually underwritten by Darwin Professional Underwriters,
     Inc, and Inter-Company Pooling Arrangements.

8.   Business classified by the Reassured as Accountants Errors & Omissions,
     Actuarial Errors & Omissions, Architects and Engineers Errors & Omissions,
     Engineering/Construction Risk Errors & Omissions, Lawyers Professional
     Liability but only in respect of law firms with 51 or more attorneys at the
     inception of the original policy/program attaching hereto, For Profit
     Outside Directors Liability when written as such under a Lawyers
     Professional Liability policy subject to this Contract, Financial
     Institutions Errors & Omissions (which is understood to mean business
     classified by the Reassured as Commercial Money Center Banks, Investment
     Banks, Mutual Funds, Security Dealers/Brokers, Investment Advisors and
     Insurance Companies), Media Professional Liability, Medical Malpractice,
     Hospital Professional Liability, Nursing Home Errors & Omissions, and
     Insurance Agents Errors & Omissions for the following: Marsh, Aon, Willis,
     Arthur J. Gallagher, Jardine Lloyd Thompson, Heath Lambert, Benfeld and
     Brown & Brown.

9.   Directors' & Officers' Liability for business classified by the Reassured
     as Commercial Money Center Banks, Investment Banks, Mutual Funds, Security
     Dealers/Brokers, Investment Advisors and publicly traded Insurance
     Companies (which is understood to mean business classified by the Reassured
     as Property/Casualty and Life Insurance Companies but not to business
     classified by the Reassured as Managed Care Organizations) with market
     capitalizations greater than USD1 billion at the inception of the original
     policy/program attaching hereto. Such exclusion shall not apply to business
     classified by the Reassured as Side "A" Directors' & Officers' Liability.

10.  Reps and Warranties, Tax Opinion, and Loss Mitigation Units.

11.  Policies of "All Risks" insurance designed to address blanket liability
     exposures for companies, including "Cat Pro, Super-Cat, FIORI" or other
     Operational Risk policies. It being understood however that the intention
     is to exclude coverage where policies have been issued on a
     "non-conventional" basis by, for example, not including a definition of
     wrongful acts or amending the policy requirement for legal liability. This
     exclusion does not and will not apply to policies of insurance for
     Directors' and Officer's liability, including entity coverage, broad form
     'A'

                                        2

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     side policies, Fiduciary Liability, Employment Practices Liability or
     Managed Care Organizations Errors and Omissions Liability written either on
     a stand alone basis or separately underwritten as part of a blended
     program.

                                    ARTICLE 3

                           COVER, LIMIT AND RETENTION

This contract applies to all original policies coming within the scope of this
Contact which are issued by the Reassured for limits in excess of USD 5,000,000
each and every loss, each Insured, each policy/program.

In respect of all such policies the Reassured shall cede and the Reinsurers
shall accept by the way of reinsurance under this Contract, all liability in
excess of underlying limits of USD 5,000,000 each and every loss, each Insured,
each policy/program, subject to a limit of liability to the Reinsurers of up to
USD 5,000,000 each and every loss, each Insured, each policy/program.

The Reassured shall retain the said underlying limits for their own account but,
without prejudice to the above, shall be at liberty to protect that retention by
way of excess of loss reinsurance for their own account and benefit.

Reinsurers hereon agree to bear their proportional share of all loss adjustment
and defense cost expenses, as per the original policy, as further provided for
under the NOTICE OF LOSS AND LOSS SETTLEMENTS Article. Original policies may
provide for costs inclusive or costs in addition coverage. Where coverage is
issued on a cost inclusive basis, costs shall be included within the limit
hereon. Where coverage is issued on a cost in addition basis, pro rata costs
shall be payable in addition to the limit hereon.

The Reassured shall be at liberty to effect specific facultative reinsurance,
for the common account of themselves and Reinsurers, or to omit cessions
hereunder, when they consider it in the best interest of the Reinsurers to do
so.

It is understood and agreed that the limits and retentions hereon apply
separately to each original coverage and/or section thereof as applicable,
issued by the Reassured, unless written on a combined, shared limit basis, as
per original policies.

The Reinsurers hereon agree the meaning of "each and every loss", "claim",
"claim made" and "losses discovered" shall follow the definitions in the
policies covered hereunder, as finally determined by the Reassured. The
Reassured shall also be the determinant of what constitutes "each Insured",
"each coverage", "each section" and "each policy".

It is understood and agreed, where the Reassured issues more than one policy to
the same original insured covering the same class of business, (such as on a
layered basis), then the combination of such policies shall be considered a
program for the purposes hereof, as reasonably determined by the Reassured.

                                        3

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It is warranted that the Reassured shall retain not less than 15.0% of liability
and premium in respect of each cession hereunder, net and unreinsured, except
for internal reinsurance and/or Catastrophe Excess of Loss Reinsurance.

                                    ARTICLE 4

                                TERRITORIAL SCOPE

This Contract shall cover wherever the original policies cover.

                                    ARTICLE 5

                                     PERIOD

Section I:

In respect of business classified by the Reassured as Directors' & Officers'
Liability, Fiduciary Liability, Employment Practices Liability and Managed Care
Organizations Errors and Omissions Liability, this Contract covers all claims
made or losses discovered, as original, on original policies issued or renewed
during the period January 2nd, 2005 12:01 a.m. Standard Time to April 1st, 2006
12:01 a.m. Standard Time at the place and location of risks insured.

Section II:

In respect of business classified by the Reassured as Insurance Agents Errors
and Omissions Liability, Lawyers Professional Liability and Miscellaneous
Professional Liability, this Contract covers all claims made or losses
discovered, as original, on original policies issued or renewed during the
period January 1st, 2005 12:01 a.m. Standard Time to April 1st, 2006 12:01 a.m.
Standard Time at the place and location of risks insured.

In Respect of Section I and II above:

Maximum original policy period 12 months plus odd time not to exceed 18 months
in all, plus extended reporting period coverage or endorsements, as original.
Such extended reporting period coverage or endorsements shall be limited to 36
months or so deemed, or such longer period as required by State Regulations.
Notwithstanding the foregoing, policies classified by the Reassured as "Run-Off'
may be issued for periods up to 72 months.

For the purposes of this Contract, any extension, discovery period or extended
reporting endorsement attaching to a policy covered hereunder shall be
considered as part of the period of the said policy, subject to the provision
that a separate limit of liability may apply in respect thereof.

Upon expiry of this Contract, policies in force at the effective time and date
of expiration hereof shall continue to be covered hereunder until their
individual natural expiration or

                                        4

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termination dates, whichever sooner, including extensions, discovery periods or
other similar extended reporting endorsements attaching to such policies. The
Reassured may however, subject to agreement by the Reinsurers hereon, terminate
the liability of the Reinsurers for claims made or losses discovered, as
original, on or after the effective time and date of expiration hereof and, in
such event, the unearned premium on all ceded policies attaching hereunder shall
be returned to the Reassured by the Reinsurers less any ceding commission
previously allowed on unearned premium.

                                    ARTICLE 6

                           SPECIAL TERMINATION CLAUSE

A.   Either party may terminate this Contract upon 30 days' notice in the event
     that the other party's surplus has been reduced by 30% or more of the
     amount of surplus at December 31st, 2004.

B.   The Reassured may terminate the Reinsurer's participation hereon at any
     time by giving 30 days' prior written notice to the Reinsurer in the event
     that:

     (1)  A State Insurance Department or other legal authority has ordered the
          subscribing Reinsurer to cease writing business; or

     (2)  The subscribing Reinsurer has become insolvent or has been placed into
          liquidation or receivership or proceedings have been instituted
          against the subscribing Reinsurer for the appointment of a receiver,
          liquidator, rehabilitator, conservator or trustee in bankruptcy, or
          other agents known by whatever name, to take possession of its assets
          or control of its operation; or

     (3)  The subscribing Reinsurer has reinsured its entire liability under
          this Contract without the Reassured's prior written consent. However,
          the Reinsurer shall be at liberty to effect catastrophe excess and/or
          aggregate stop loss excess reinsurance; or

     (4)  The subscribing Reinsurer has ceased assuming new and renewal treaty
          reinsurance business; or

     (5)  The subscribing Reinsurer experiences a downgrading in their financial
          strength rating from Standard and Poor's Group below BBB or a
          downgrading in rating from A.M. Best Company below A-.

In the event of such termination, the liability of the Reinsurer shall be
terminated as follows:

Policies in force at the effective time and date of termination of this Contract
shall continue to be covered hereunder until their individual expiration dates,
including extensions, discovery periods or other such similar reporting
endorsements or provisions attached thereto. For rating purposes, the applicable
Original Gross Net Written Premium

                                        5

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Income shall be calculated on policies issued or renewed from the inception date
of this Contract to the effective time and date of termination of this Contract.

The Reassured may however terminate the liability of the Reinsurer for claims
made or losses discovered, as original, after the effective time and date of
termination of this Contract and, in such event, the unearned premium at the
termination date applicable to in force policies, including extensions,
discovery periods or other similar extended reporting endorsements or provisions
attached thereto, shall be returned to the Reassured by the Reinsurer less any
ceding commission previously allowed on unearned premium.

                                    ARTICLE 7

                               FOLLOW THE FORTUNES

This Contract shall be construed as an honorable undertaking between the
Reassured and the Reinsurers and shall not be defeated by technical legal
restrictions, it being the intention of this Contract that the fortunes of the
Reinsurers shall follow in all respects the fortunes of the Reassured on all
original policies and contracts of insurance ceded to this Contract.

It is understood however, that this Contract is a contract of reinsurance
separate and distinct from the original policies issued by the Reassured. Except
as provided for in INSOLVENCY OF THE REASSURED the Reinsurers will not, under
any circumstances whatsoever, be directly liable to the original insureds.

                                    ARTICLE 8

                                 LOSS RATIO CAP

Notwithstanding any other provision of this Contract, the maximum recoverable
hereon shall not exceed the greater of USD 30,000,000 or 250% of the final
reinsurance premium.

                                    ARTICLE 9

                        EXCESS OF ORIGINAL POLICY LIMITS

In addition to the coverage afforded under COVER, LIMIT AND RETENTION should the
Reassured incur additional liability as the result of an award in excess of
their original policy limit as defined below, the Reinsurers shall accept the
additional liability incurred solely on cessions made hereunder, up to an
additional Contract limit in addition to any contractual loss hereunder (subject
to the Reassured's 15.0% co-participation hereon), it being understood the
maximum additional recoverable in respect of specific excess of original policy
limits and extra contractual obligations coverage shall be USD 5,000,000 any one
claim. However, specific Excess of Original Policy Limits coverage afforded
under the Reassured's underlying Excess of Loss Reinsurance Contract shall inure
to the benefit of Reinsurers hereon. No separate underlying retention of USD
5,000,000 shall apply to such additional Excess of Original Policy Limits
coverage hereunder.

                                        6

<PAGE>

Awards in excess of the original policy limit are defined as contractual losses
which the Reassured may be legally liable to pay, but in excess of the original
policy limit, such losses in excess of the original policy limit having been
incurred because of, but not limited to, the following: failure by the Reassured
to settle within the original policy limit or by reason of alleged or actual
negligence, fraud or bad faith in rejecting an offer of settlement or in the
preparation of the defense or in the trial of any action against an insured or
in the preparation or prosecution of an appeal consequent upon such action.

The date on which any liability in excess of original policy limits is incurred
by the Reassured shall be deemed, in all circumstances, to be the date the
original claim was made or occurred.

However, this Article shall not apply where such awards in excess of original
policy limit have been incurred due to the fraud of a member of the Board of
Directors or a corporate officer of the Reassured acting individually or
collectively or in collusion with any individual or corporation or any other
organization or party involved in the presentation, defense or settlement of any
claim.

                                   ARTICLE 10

                          EXTRA-CONTRACTUAL OBLIGATIONS

In addition to the coverage afforded under COVER, LIMIT AND RETENTION should the
Reassured incur additional liability as the result of an award in respect of any
extra-contractual obligations, as defined below, the Reinsurers shall accept the
additional liability incurred solely on cessions made hereunder, up to an
additional Contract limit in addition to any contractual loss hereunder (subject
to the Reassured's 15.0% co-participation hereon), it being understood the
maximum additional recoverable in respect of specific excess of original policy
limits and extra contractual obligations coverage shall be USD 5,000,000 any one
claim. However, specific Extra Contractual Obligations coverage afforded under
the Reassured's underlying Excess of Loss Reinsurance Contract shall inure to
the benefit of Reinsurers hereon. No separate underlying retention of USD
5,000,000 shall apply to such additional Extra Contractual Obligations coverage
hereunder.

"Extra-contractual obligations" are defined as those liabilities not covered
under any other provision of this Contract and which arise from the handling of
any claim on business covered hereunder, such liabilities arising because of,
but not limited to, the following: failure by the Reassured to settle within the
policy limit, or by reason of alleged or actual negligence, fraud or bad faith
in rejecting an offer of settlement or in the preparation of the defense or in
the trial of any action against an insured or in the preparation or prosecution
of an appeal consequent upon such action.

The date on which any extra-contractual obligation is incurred by the Reassured
shall be deemed, in all circumstances, to be the date the original claim was
made or occurred.

                                        7

<PAGE>

Recoveries, collectibles or retentions from any other form of insurance or
reinsurance including deductibles or self-insured retentions that protect the
Company against Extra Contractual Obligations shall inure to the benefit of the
Reinsurers and shall be deducted from the total amount of Extra Contractual
Obligations for purposes of determining the loss hereunder.

However, this Article shall not apply where such extra-contractual obligations
have been, incurred due to the fraud of a member of the Board of Directors or a
corporate officer of the Reassured acting individually or collectively or in
collusion with any individual or corporation or any other organization or party
involved in the presentation, defense or settlement of any claim.

                                   ARTICLE 11

                                     PREMIUM

In consideration of the liabilities undertaken by the Reinsurers in accordance
with the terms of this Contract, the Reassured shall pay to the Reinsurers their
proportion of the Reassured's Original Gross Net Written Premium for limits
attaching hereon, generated in accordance with the Increased Limit Factors
(ILF's) established by the Reassured for each class of business covered
hereunder.

The term "Original Gross Net Written Premium" shall for the purpose of this
Contract be understood to mean the full gross amount of the premiums charged by
the Reassured to its original insureds, less cancellations and return premiums,
if applicable.

It is noted and agreed that the minimum Original Gross Net Written Premium
(OGNWP) in respect of limits attaching hereon shall not be less than USD
10,000,000 (100% basis). For the purposes hereof, the calculation of the OGNWP
shall be prepared by the Reassured as of June 30, 2006. Following such
calculation, in the event the actual OGNWP is less than the minimum OGNWP, the
difference (net of applicable ceding commission) will be remitted to the
Reinsurers within 45 days in accordance with the terms of the ACCOUNTS AND
REPORTS Article. Subsequent calculations shall be prepared by the Reassured
quarterly thereafter until all premiums are settled on policy limits ceded
hereto. In the event that actual OGNWP increases or decreases relative to a
prior calculation, the difference will be remitted by the Reassured or
Reinsurers, as appropriate, such that the Reinsurers receive no less than OGNWP
of USD 10,000,000 (100% basis).

                                   ARTICLE 12

                                CEDING COMMISSION

The Reinsurers agree to allow the Reassured to deduct and retain for its own
benefit as Ceding Commission 25% of the Original Gross Net Written Premium
payable to the Reinsurers in accordance with the terms of the PREMIUM Article.

                                        8

<PAGE>

                                   ARTICLE 13

                              ACCOUNTS AND REPORTS

Accounts shall be rendered quarterly in arrears. Premium and bordereau of
cessions shall be rendered by the Reassured within 45 days of the close of each
quarter being within 45 days of March 31st, 2005 and quarterly thereafter.

The bordereaux of cessions, as prepared by the Reassured, shall contain the
following information: policy number, insured name, premium, policy limit,
policy term, SIR/attachment point, class of business, and market capitalization
for publicly traded D&O accounts only at the time the risk is written as
determined by the Reassured.

                                   ARTICLE 14

                       NOTICE OF LOSS AND LOSS SETTLEMENTS

Reinsurers agree to abide by all loss settlements of the Reassured which at its
sole discretion shall adjust, settle or compromise all losses and all such
adjustments, settlements or compromises shall be binding upon Reinsurers subject
to the terms, conditions and limitations of the original policies and this
Contract.

The Reassured shall provide individual loss reports to the Reinsurers of all
claims reserved at or above USD 2,500,000, and in the event of loss settlements
by the Reassured, the Reinsurers agree to settle to the Reassured their
proportion of such loss settlements immediately upon receipt of satisfactory
proof of loss.

Where the Reassured's original policies and/or specific coverage parts of their
original policies provide for loss adjustment expenses in addition to limit, all
loss adjustment expenses paid by the Reassured shall be apportioned in
proportion to the respective interests in the loss of the parties hereto as such
interests finally appear and shall be in addition to their share of the loss
recoverable hereunder. In the event a verdict or judgment is reduced by an
appeal or a settlement, subsequent to the entry of the judgment, resulting in an
ultimate saving on such verdict or judgment, or a judgment is reversed outright,
the expense incurred in securing such final reduction or reversal shall be
pro-rated between the Reinsurers and the Reassured in the proportion that each
benefits from such reduction or reversal; and the expenses incurred up to the
time and date of the original verdict or judgment shall be pro-rated in
proportion to each party's interest in such verdict or judgment.

Notwithstanding the foregoing, in the event that the Reassured's original
policies and/or specific coverage parts of their original policies are issued
with loss adjustment expenses included within the original policy limit, such
loss adjustment expenses shall be included as Loss for the purposes of recovery
hereunder.

In the event of external legal or external adjustment expenses, including
outside monitoring counsel expenses, which are incurred by the Reassured in
connection with a claim or potential claim hereunder and which are not the
subject of the Reassured's

                                        9

<PAGE>

original policy, then Reinsurers shall also be liable for their proportion of
such expenses in addition to their share of the loss recoverable hereunder.

The Reinsurers shall also accept additional liability, solely on cessions made
hereunder, for legal expenses incurred in respect of coverage questions and
legal actions in connection with a claim or potential claim hereunder
(hereinafter referred to as "declaratory judgment and/or rescission expenses").
It being understood and agreed that:

1.   When there is no contractual loss, other than declaratory judgment and/or
     rescission expenses, the declaratory judgment and/or rescission expenses
     shall be considered a Loss for the purposes of recovery hereunder.

2.   When a contractual loss, exclusive of declaratory judgment and/or
     rescission expenses, is incurred hereunder, the Reinsurers shall be liable
     for their proportionate share of such declaratory judgment and/or
     rescission expenses, as the respective interests in the loss of the parties
     hereto finally appear, up to an additional limit of this Contract (subject
     to the Reassured's 15.0% co-participation hereon) in addition to any Loss
     recoverable hereunder.

For the purposes of this Contract loss adjustment expenses shall include all
expenses of litigation, including post judgment interest, but shall exclude the
salaries of regular employees and all office expenses of the Reassured.

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.

                                   ARTICLE 15

                                INTEREST PENALTY

The provisions of this Article shall not be implemented unless specifically
invoked, in writing, by the Reassured or Reinsurer. The interest amounts
provided for in this Article will apply to the Reinsurer or to the Reassured in
the following circumstances: -

1.   Loss payment owed by the Reinsurer to the Reassured shall have a due date
     to the Reassured of 45 calendar days following the date of the Reinsurer's
     receipt of the billing, but no later than 90 days from the Reassured's date
     of the billing.

2.   Payment of any premium installments shall be due to the Reinsurer within 30
     calendar days of the date specified in this Contract. Any premium
     adjustments will be due by the debtor party within 60 calendar days of the
     date specified in this Contract.

3.   Payment of return premiums, commissions, profit sharing, or any other
     amounts not provided in paragraphs 1 or 2 above, shall be due by the debtor
     party within 60 calendar days of the due date specified in this Contract.
     If no due date is specified, the due date shall be 60 days following the
     date of the debtor party's

                                       10

<PAGE>

     receipt of the billing, but no later than 90 days from the creditor party's
     date of the billing.

4.   Failure by the Reinsurer or Reassured to comply with their respective
     payment obligations within the time periods as herein provided will result
     in a compound interest penalty payable at a rate equal to the 90 day
     Treasury Bill rate as published in the Money Rate Section or any successor
     section of the Wall Street Journal on the first business day following the
     date a remittance becomes due, plus 2% per annum, to be compounded and
     adjusted quarterly. Any interest which occurs pursuant to this Article
     shall be calculated by the party to which it is owed. The accumulation of
     the number of days that any payment is past due will stop on the date the
     Intermediary, where applicable, receives payment.

5.   The validity of any claim or payment may be contested under the provisions
     of this Contract. If the debtor party prevails in such action, there shall
     be no interest penalty due. Otherwise, any interest will be calculated and
     due as outlined above.

6.   If a Reinsurer advances payment of any claim it is contesting, and prevails
     such action, the Reassured shall return such payment plus pay interest on
     same, calculated as per the provisions of this Article.

7.   Any interest which occurs pursuant to this Article may be waived by the
     party to which it is owed. Further, any interest which is calculated
     pursuant to this Article that is USD100 or less shall be waived. Waiver of
     such interest, however, shall not affect the waiving party's right to
     similar interest for any other failure by the other party to make payment
     when due under this Article.

8.   Nothing in this Article shall diminish any legal remedies which either
     party may have against the other.

                                   ARTICLE 16

                       LOSS AND UNEARNED PREMIUM RESERVES

This Article applies only to those Reinsurers signatory hereto who do not
qualify for credit under the regulations of the State insurance authorities or
departments which have jurisdiction over the Reassured's reserves.

The Reassured agrees that when, for its Annual Convention Statement purposes, it
files with the authorities or departments mentioned above or sets up in its
books statutory reserves for known outstanding losses and allocated loss
expenses reinsured by this Contract, for unearned premium in respect of business
coming within the scope of this Contract, or for incurred but not reported
losses (IBNR), hereinafter "The Stated Reserves", it shall forward to the
Reinsurers a clear statement of the Reinsurers' proportion of The Stated
Reserves detailing separately the amounts involved for known outstanding losses
and allocated loss expenses and for unearned premium and IBNR, and also how
those amounts are calculated. Reserves for IBNR shall be equal to the actual
amount of IBNR carried on the books of the Reassured for statutory reporting
purposes.

                                       11

<PAGE>

The Reinsurers, promptly upon receipt of the Reassured's statement, shall apply
for, and secure delivery to the Reassured of, clean irrevocable and
unconditional Letters of Credit or such equivalent funding acceptable to the
Reassured, for the benefit of the Reassured in amounts equal to their proportion
of The Stated Reserves.

All Letters of Credit procured pursuant to this Contract shall be issued by a
Bank which is a Member of the Federal Reserve and acceptable to the authorities
or departments mentioned in the first paragraph of this Article current at the
date of the Reassured's statement. Such Letter of Credit shall be in full
conformity with the requirements of such authorities or departments.

Further, all such Letters of Credit shall be "Evergreen" in that they shall be
issued for an initial period of not less than one year and shall be
automatically extended for one year from their original expiration dates and
subsequently from their extended expiration dates unless and until, at least
thirty days before any expiration date, the issuing bank gives notice to the
Reassured by registered snail that the issuing bank elects not to extend the
life of the Letter of Credit in question beyond its forthcoming expiration date.

In consideration of the contract of the Reinsurers to furnish such Letters of
Credit to the Reassured to enable it to obtain credit for the reinsurance
provided under this Contract, the Reassured hereby undertakes to hold such
Letters of Credit and the proceeds of any drawings made upon them in trust for
the Reinsurers and to use and apply the proceeds of any such drawings for the
following purposes only:

a.   To pay the Reinsurers' share or to reimburse the Reassured for that share
     of any liability for loss or allocated loss expense reinsured by this
     Contract or for unearned premium in respect of business coming within the
     scope of this Contract;

b.   To refund to the Reinsurers any balance by which the amount of the Letter
     of Credit exceeds the Reinsurers' proportion of any liability for loss or
     allocated loss expense reinsured by this Contract, incurred but not
     reported losses (IBNR) or for unearned premium in respect of business
     coming within the scope of this Contract.

c.   In the event that one or more of the Reinsurers participating in the Letter
     of Credit gives timely notice of cancellation or non-renewal of their
     participation in the Letter of Credit and provided that the obligations
     secured by the Letter of Credit remain unliquidated and undischarged at the
     time of receipt by the Reassured of such notice, the Reassured shall create
     a cash deposit account, separate from its own assets, in an amount equal to
     the participation of the canceling or non-renewing Reinsurer(s) in the
     Letter of Credit. That cash deposit account may then be used as in
     subparagraphs a. and b. above. It is understood and agreed that this
     procedure may only be implemented before the expiry of the notice period in
     respect of cancellation or non-renewal and that if it is implemented, the
     Reassured will ensure that a rate of interest is obtained for the
     Reinsurers on such a deposit account that is at least equal to the rate
     which would be paid by Citibank N.A. in

                                       12

<PAGE>

     New York, and further that the Reassured will account to the Reinsurers on
     an annual basis for all interest accruing on the cash deposit account for
     the benefit of the Reinsurers.

The issuing bank shall have no responsibility whatsoever in connection with the
propriety of drawings made by the Reassured on the Letters of Credit issued
under this Contract or in connection with the disposition of any funds so
withdrawn, except to ensure that drawings are made only upon the order of
properly authorized representatives of the Reassured.

All Letters of Credit procured for the Reassured under this Contract shall be
adjusted at annual intervals, or more frequently as agreed (but never more
frequently than quarterly), to reflect the current balance of the Reinsurers'
proportion of the Reassured's known outstanding loss and allocated loss expense
reserves and unearned premium reserves, and the Reassured shall produce a
statement for this purpose detailed in the same way as the original statement on
the basis of which such Letters of Credit were first issued. If the statement
shows that the Reinsurers' proportion of such losses and allocated expenses,
IBNR or unearned premium reserves exceeds the current amount of the Letters of
Credit, the Reinsurers shall, within thirty days after receipt of the statement,
secure the amendment of the Letters of Credit increasing their amount to the
amount of the current balance of these items. If, however, the statement shows
that the Reinsurers' proportion of the current balance of those items is less
than the amount of the Letters of Credit the Reassured shall, within thirty days
of receipt of a written request from the Reinsurers to do so, facilitate the
release of the excessive security by authorizing the amendment of the Letters of
Credit so as to reduce their amount to the current balance required.

All expenses incurred in the establishment or maintenance of such Letters of
Credit shall be paid by the Reinsurers.

                                   ARTICLE 17

                                    CURRENCY

The currency to be used for all purposes of this Contract shall be United States
Dollars. All amounts paid or received by the Reassured in any other currency
shall be converted into United States Dollars at the rates of exchange at which
such transactions are converted in the books of the Reassured.

                                   ARTICLE 18

                                 TAX PROVISIONS

The Reassured shall be liable for all taxes (except Federal Excise Tax) levied
on it with respect to premiums payable to the Reinsurers hereunder. Federal
Excise Tax applies only to those Reinsurers, excepting Underwriters at Lloyd's,
London and other Reinsurers exempt from the Federal Excise Tax, who are
domiciled outside the United States of America.

                                       13

<PAGE>

To the extent that such premium is subject to Federal Excise Tax, the Reinsurers
hereby agree to allow as a deduction from the premium, for the purpose of paying
Federal Excise Tax, all applicable percentages of the premium payable hereon.

In the event of any return premium becoming due hereunder the Reinsurers will
deduct all applicable percentages from the amount of the return, and the
Reassured or its agents shall take steps to recover the tax from the Government
of the United States of America.

In consideration of the terms under which this Contract is issued, the Reassured
undertakes not to claim any deduction in respect of premium payable hereon when
making tax returns, other than Income or Profits tax returns, to any fiscal
authority of the United States of America or any State or Territory thereof.

                                   ARTICLE 19

                           INSOLVENCY OF THE REASSURED

Amounts due to the Reassured under this Contract shall be payable by the
Reinsurers on the basis of the liability of the Reassured under the original
policies reinsured hereunder without diminution because of the insolvency of any
one or all of the Reassured Companies.

In the event of the insolvency of the Reassured, the Liquidator or Receiver or
Statutory Successor of the Reassured shall give written notice to the Reinsurers
of the pendency of any claim against the insolvent Reassured on the original
policies reinsured hereunder within a reasonable time after such claim is filed
in the insolvency proceedings. During the pendency of such claim the Reinsurers
may investigate such claim and intervene, at their own expense, in the
proceedings where such claim is to be adjudicated and interpose any defense or
defenses which they may deem available to the Reassured or its Liquidator or
Receiver or Statutory Successor. The expense thus incurred by the Reinsurers
shall be chargeable, subject to court approval, against the insolvent Reassured
as part of the expense of liquidation to the extent of a proportionate share of
the benefit which may accrue to the Reassured solely as a result of the defense
so undertaken by the Reinsurers.

When two or more Reinsurers are involved in the same claim and a majority in
interest elect to investigate the claim and/or to interpose defense to such
claim, the expense shall be apportioned in accordance with the terms of the
above paragraph as though such expense had been incurred by the Reassured.

Should the Reassured go into liquidation or should a receiver be appointed, the
Reinsurers shall be entitled to deduct from any suns which may be or may become
due to the Reassured under this Contract any sums which are due to the
Reinsurers from the Reassured under this Contract and which are payable at a
fixed or stated date, as well as any other sums due to the Reinsurers which are
permitted to be offset under applicable law.

                                       14

<PAGE>

In the event of the insolvency of the Reassured, the amounts due to the
Reassured under this Contract shall be payable by the Reinsurers directly to the
Reassured or to its Liquidator, Receiver or Statutory Successor.

It is the mutual intent of the parties that, in the event of the insolvency of
the Reassured, this Article shall be read to conform with the state or
regulatory requirements of the jurisdiction in which the liquidation or
receivership is conducted In the event that any provision of this Article is in
conflict with such state or regulatory requirements, then such provision shall
be reformed to be in compliance with such state or regulatory requirements.

                                   ARTICLE 20

                                     OFFSET

Each party hereto shall have, and may exercise in the event of insolvency of the
other or the non-payment by the other of obligations when due hereunder, the
right to offset any balance or balances whether on account of premiums,
commissions, claims or losses, adjustment expenses, salvage or any amount due
from that party to the other party hereto under this Contract only against any
balance or balances due or to become due to the offsetting party from the other
party under this Contract only. The terms of this Article shall apply separately
to this Contract and to each successive renewal of this Contract.

                                   ARTICLE 21

                          DELAYS, ERRORS AND OMISSIONS

No inadvertent delay, error or omission shall be held to relieve either party
hereto of any liability which would have attached to them under this Contract if
such delay, error or omission had not been made, provided that rectification is
made immediately upon discovery.

                                   ARTICLE 22

                           AMENDMENTS AND ALTERATIONS

The terms herein contained comprise the whole Contract between the Reassured and
the Reinsurers and may only be changed in writing, signed by or on behalf of
both parties.

                                   ARTICLE 23

                       ACCESS TO RECORDS AND CLAIMS REVIEW

All documents and records in the possession of the Reassured concerning this
Contract shall be made available upon reasonable notice at the request of the
Reinsurers for inspection at the Reassured's offices by the Reinsurers or their
nominated representatives for the purposes of obtaining information concerning
this Contract or the subject matter hereof.

                                       15

<PAGE>

Specifically, the Reinsurers shall be entitled to nominate a representative to
assess the Reassured's claims and claims procedures.

For the avoidance of doubt, it is hereby expressly agreed that the rights given
to the Reinsurers by this Article shall continue in effect notwithstanding the
expiration of this Contract and shall be exercised at the Reinsurers' own
expense.

                                   ARTICLE 24

                                   ARBITRATION

As a condition precedent to any right of action hereunder, all disputes or
differences arising out of or connected with this Contract (whether or not
arising before or after expiration) its interpretation or implementation, shall
be referred to arbitration in Farmington, Connecticut, U.S.A., the city in which
the Reassured's principal office is located.

Arbitration shall be initiated by the delivery of a written notice of demand for
arbitration by one party to the other within a reasonable time after the dispute
has arisen stating the nature of the dispute and the remedy sought. Those
Reinsurers involved in the dispute or other matter in controversy shall be
considered as one party for the purpose of allocating the cost of the
arbitration.

Each party shall appoint an individual as arbitrator and the two so appointed
shall then appoint a third arbitrator. If either party refuses or neglects to
appoint an arbitrator within sixty (60) days, the other party may appoint the
second arbitrator. If the two arbitrators do not agree on a third arbitrator
within sixty (60) days of their appointment, within ten (10) days thereafter the
two arbitrators will request the American Arbitration Association ("AAA") to
appoint a third arbitrator with the qualifications set forth below in this
Article without regard to the AAA's Commercial Arbitration Rules. If the AAA
fails to appoint a third arbitrator within thirty (30) days after its receipt of
the two arbitrators' request, either party may apply to a court of competent
jurisdiction to appoint a third arbitrator with the qualifications set forth
below in this Article. The third arbitrator will immediately notify each party
of his selection. In the event of the resignation or death of any member of the
arbitrator panel, a replacement will be appointed in the same manner as the
resigning or deceased member was appointed.

Each arbitrator shall be an active or retired officer of an insurance or
reinsurance company or Underwriter at Lloyd's London; no arbitrator shall have a
personal or financial interest in the result of the arbitration, and shall not
be a present or former officer, attorney, or consultant of the Reassured or the
Reinsurer or either's affiliates.

The arbitrators shall interpret this Contract as an honorable engagement and not
as merely a legal obligation; they are relieved of all judicial formalities and
may abstain from following the strict rules of law, and shall make any award
with a view to effecting the general purpose of this Contract in a reasonable
manner with due regard to the custom and usage of the insurance and reinsurance
business.

                                       16

<PAGE>

The arbitrators shall have full discretion to make such orders as they think fit
in connection with all procedural matters in the Arbitration, including but not
limited to the conduct of the reference by written or oral submissions, the
production of documents, the examination of witnesses, and the imposition of
time limits for the taking of necessary procedural steps. The arbitrators shall
also have full discretion to make such orders as they think fit with regard to
the payment of the costs of the Arbitration including attorneys' costs and fees.

If more than one Reinsurer is involved in the same dispute, all such Reinsurers
shall constitute and act as one party for purposes of this Article and
communications shall be made by the Reassured to each of the Reinsurers
constituting the one party, provided that nothing herein shall impair the rights
of such Reinsurers to assert several, rather than joint, defenses or claims, nor
be construed as changing the liability of the Reinsurers under the terms of this
Contract from several to joint.

Any Award or order of the arbitrators or a majority thereof shall be binding on
the parties and there shall be no right of appeal there from. For the purpose of
enforcement of any Award, an action may be brought in any Court of competent
jurisdiction.

Except as provided above, arbitration shall be based, insofar as applicable,
upon the procedures of the American Arbitration Association.

                                   ARTICLE 25

                                 SERVICE OF SUIT

It is agreed that in the event of the failure of the Reinsurer to pay any amount
awarded by the arbitration tribunal referred to in the Arbitration Clause
herein, the Reinsurers hereon, at the request of the Reassured, will submit to
the jurisdiction of a court of competent jurisdiction within the United States.
Nothing in this Article constitutes or should be understood to constitute a
waiver of Reinsurers' rights to commence an action in any court of competent
jurisdiction in the United States, to remove an action to a United States
District Court, or to seek a transfer of a case to another court as permitted by
the laws of the United States or of any state in the United States. It is
further agreed that service of process in such suit may be made upon Mendes &
Mount, 750 Seventh Avenue, New York, New York 10019, and that in any suit
instituted against any one of them upon this Contract, Reinsurers will abide by
the final decision of such court or of any appellate court in the event of an
appeal.

The above-named are authorized and directed to accept service of process on
behalf of Reinsurers in any such suit and/or upon the request of the Reassured
to give a written undertaking to the Reassured that they will enter a general
appearance upon Reinsurers' behalf in the event such a suit shall be instituted.

Further, pursuant to any statute of any state, territory or district of the
United States which makes provision therefore, Reinsurers hereon hereby
designate the Superintendent, Commissioner or Director of Insurance or other
officer specified for that purpose in the

                                       17

<PAGE>

statute, or his successor or successors in office, as their true and lawful
attorney upon whom may be served any lawful process in any action, suit or
proceeding instituted by or on behalf of the Reassured or any beneficiary
hereunder arising out of this Contract of reinsurance, and hereby designate the
above-named as the person to whom the said officer is authorized to mail such
process or a true copy thereof.

                                   ARTICLE 26

                                 CONFIDENTIALITY

The confidential nature of this Contract is acknowledged by all parties.
Moreover, the Reinsurers will only disclose to third parties, such as
regulators, auditors, rating agencies, shareholders, reinsurers and the like,
such details of this Contract as are necessary to comply with their obligations
to such third parties as part of their normal business practice.

It is a condition binding on Reinsurers hereon that they may not disclose any
details of this Contract at any time to any other third party without the
agreement of the Reassured.

                                   ARTICLE 27

                              REGULATORY COMPLIANCE

If any provision of this Contract shall be rendered illegal or unenforceable by
the laws, regulations or public policy of any State in the United States, such
provision shall be considered void in such State, but this shall not affect the
validity or enforceability of any other provision of this Contract, or the
validity or enforceability of such provision in any other jurisdiction.

                                   ARTICLE 28

                                  INTERMEDIARY

Carvill America Incorporated is hereby recognized as the Intermediary
negotiating this Contract for all business hereunder. All communications
including notices, premiums, return premiums, commissions, taxes, losses, loss
adjustment expenses, salvages and loss settlements relating thereto shall be
transmitted to the Reinsurer or the Reassured through Carvill America
Incorporated at The Pinnacle, 3455 Peachtree Road, N.E., Suite 375, Atlanta
Georgia 30326. Payments by the Reassured to the Intermediary will be deemed to
constitute payment to the Reinsurer. Payments by the Reinsurer to the
Intermediary will be deemed only to constitute payment to the Reassured to the
extent that such payments are actually received by the Reassured.

                                       18

<PAGE>

                                   ARTICLE 29

                                  GOVERNING LAW

This Contract shall be governed by and construed in accordance with the laws of
the State of Connecticut.

                                   ARTICLE 30

                                  PARTICIPATION

This Contract obligates each of the Reinsurers for their proportion of the
interests and liabilities set forth under this Contract, such proportions being
shown in the attached Schedules.

                                   ARTICLE 31

                            SEVERAL LIABILITY NOTICE

The subscribing Reinsurers' obligations under contracts of reinsurance to which
they subscribe are several and not joint and are limited solely to the extent of
their individual subscriptions. The subscribing Reinsurers are not responsible
for the subscription of any co-subscribing Reinsurer who for any reason does not
satisfy all or part of its obligations.

IN WITNESS WHEREOF the parties hereto have, by their duly authorized
representative, executed this Contract as follows:

Signed in Farmington, Connecticut, this 15th day of March 2005.

For and on behalf of the Reassured:

Signed by: /s/ Stephen J. Sills
           --------------------------
Officers Title:
                ---------------------
Print Name: Stephen J. Sills
            -------------------------

And for the Reinsurer(s) by means of and in accordance with the attached
Schedule(s), which shall be considered to form an integral part of this
Contract.

                                       19

<PAGE>

        NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-REINSURANCE (U.S.A.)

(1)  This reinsurance does not cover any loss or liability accruing to the
     Reassured as a member of, or subscriber to, any association of insurers or
     reinsurers formed for the purpose of covering nuclear energy risks or as a
     direct or indirect reinsurer of any such member, subscriber or association.

(2)  Without in any way restricting the operation of paragraph (1) of this
     Clause it is understood and agreed that for all purposes of this
     reinsurance all the original policies of the Reassured (new, renewal and
     replacement) of the classes specified in Clause II of this paragraph (2)
     from the time specified in Clause III in this paragraph (2) shall be deemed
     to include the following provision (specified as the Limited Exclusion
     Provision).

     LIMITED EXCLUSION PROVISION:

     I    It is agreed that the policy does not apply under any liability
          coverage, to: injury, sickness, disease, death or destruction bodily
          injury or property damage with respect to which an insured under the
          policy is also an insured under a nuclear energy liability policy
          issued by Nuclear Energy Liability Insurance Association, Mutual
          Atomic Energy Liability Underwriters or Nuclear Insurance Association
          of Canada, or would be an insured under any such policy but for its
          termination upon exhaustion of its limit of liability.

     II   Family Automobile Policies (liability only), Special Automobile
          Policies (private passenger automobiles, liability only), Farmers
          Comprehensive Personal Liability Policies (liability only),
          Comprehensive Personal Liability Policies (liability only) or policies
          of a similar nature; and the liability portion of combination forms
          related to the four classes of policies stated above, such as the
          Comprehensive Dwelling Policy and the applicable types of Homeowners
          Policies.

     III. The inception dates and thereafter of all original policies as
          described in II above, whether new, renewal or replacement, being
          policies which either

          (a)  become effective on or after 1st May, 1960, or

          (b)  become effective before that date and contain the Limited
               Exclusion Provision set out above;

          provided this paragraph (2) shall not be applicable to Family
          Automobile Policies, Special Automobile Policies, or policies or
          combination policies of a similar nature, issued by the Reassured on
          New York risks, until 90 days following approval of the Limited
          Exclusion Provision by the Governmental Authority having jurisdiction
          thereof.

(3)  Except for those classes of policies specified in Clause II of paragraph
     (2) and without in any way restricting the operation of paragraph (1) of
     this Clause, it is

                                       20

<PAGE>

     understood and agreed that for all purposes of this reinsurance the
     original liability policies of the Reassured (new, renewal and replacement)
     affording the following coverages:

          Owners, Landlords and Tenants Liability, Contractual Liability,
          Elevator Liability, Owners or Contractors (including railroad)
          Protective Liability, Manufacturers and Contractors Liability, Product
          Liability, Professional and Malpractice Liability, Storekeepers
          Liability, Garage Liability, Automobile Liability (including
          Massachusetts Motor Vehicle or Garage Liability)

     shall be deemed to include, with respect to such coverages, from the time
     specified in Clause V of this paragraph (3), the following provision
     (specified as the Broad Exclusion Provision).

                                       21

<PAGE>

BROAD EXCLUSION PROVISION.*

It is agreed that the policy does not apply:

I.   Under any Liability Coverage, to injury, sickness, disease, death or
     destruction bodily injury or property damage

     (a)  with respect to which an insured under the policy is also an insured
          under a nuclear energy liability policy issued by Nuclear Energy
          Liability Insurance Association, Mutual Atomic Energy Liability
          Underwriters or Nuclear Insurance Association of Canada, or would be
          an insured under any such policy but for its termination upon
          exhaustion of its limit of liability;

          or

     (b)  resulting from the hazardous properties of nuclear material and with
          respect to which (1) any person or organization is required to
          maintain financial protection pursuant to the Atomic Energy Act of
          1954, or any law amendatory thereof, or (2) the insured is, or had
          this policy not been issued would be, entitled to indemnity from the
          United States of America, or any agency thereof, under any agreement
          entered into by the United States of America, or any agency thereof,
          with any person or organization.

     II.  Under any Medical Payments Coverage, or under any Supplementary
          Payments Provision relating to immediate medical or surgical relief,
          first aid, to expenses incurred with respect to bodily injury,
          sickness, disease or death bodily injury

          resulting from the hazardous properties of nuclear material and
          arising out of the operation of a nuclear facility by any person or
          organization.

     III. Under any Liability Coverage, to injury, sickness, disease, death or
          destruction bodily injury or property damage resulting from the
          hazardous properties of nuclear material, if

          (a)  the nuclear material (1) is at any nuclear facility owned by, or
               operated by or on behalf of, an insured or (2) has been
               discharged or dispersed therefrom;

          (b)  the nuclear material is contained in spent fuel or waste at any
               time possessed, handled, used, processed, stored, transported or
               disposed of by or on behalf of an insured; or

          (c)  the injury, sickness, disease, death or destruction bodily injury
               or property damage

                                       22

<PAGE>

               arises out of the furnishing by an insured of services,
               materials, pacts or equipment in connection with the planning,
               construction, maintenance, operation or use of any nuclear
               facility, but if such facility is located within the United
               States of America, its territories, or possessions or Canada,
               this exclusion (c) applies only to injury to or destruction of
               property at such nuclear facility, property damage to such
               nuclear facility and any property thereat.

     IV.  As used in this endorsement:

          "HAZARDOUS PROPERTIES" include, radioactive, toxic or explosive
          properties; "NUCLEAR MATERIAL" means source material, special nuclear
          material or byproduct material; "SOURCE MATERIAL", "SPECIAL NUCLEAR
          MATERIAL", and "BYPRODUCT MATERIAL" have the meanings given them in
          the Atomic Energy Act of 1954 or in any law amendatory thereof; "SPENT
          FUEL" means any fuel element or fuel component, solid or liquid, which
          has been used or exposed to radiation in a nuclear reactor; "WASTE"
          means any waste material (1) containing by product material and (2)
          resulting from the operation by any person or organization of any
          nuclear facility included within the definition of nuclear facility
          under paragraph (a) or (b) thereof; "NUCLEAR FACILITY" means

               (a)  any nuclear reactor,

               (b)  any equipment or device designed or used for (1) separating
                    the isotopes of uranium or plutonium, (2) processing or
                    utilizing spent fuel, or (3) handling, processing or
                    packaging waste,

               (c)  any equipment or device used for the processing, fabricating
                    or alloying of special nuclear material if at any time the
                    total amount of such material in the custody of the insured
                    at the premises where such equipment or device is located
                    consists of or contains more than 25 grams of plutonium or
                    uranium 233 or any combination thereof, or more than 250
                    grams of uranium 235,

               (d)  any structure, basin, excavation, premises or place prepared
                    or used for the storage or disposal of waste,

          and includes the site on which any of the foregoing is located, all
          operations conducted on such site and all premises used for such
          operations; "NUCLEAR REACTOR" means any apparatus designed or used to
          sustain nuclear fission in a self-supporting chain reaction or to
          contain a critical mass of fissionable material;

               With respect to it juty to or destruction of property, the word
               "injury" or "destruction"; "property damage" includes all forms
               of radioactive contamination of property, includes all forms of
               radioactive contamination of property.

                                       23

<PAGE>

     V.   The inception dates and thereafter of all original policies affording
          coverages specified in this paragraph (3), whether new, renewal or
          replacement, being policies which become effective on or after 1st
          May, 1960, provided this paragraph (3) shall not be applicable to

          (i)  Garage and Automobile Policies issued by the Reassured on New
               York risks.

                    or

          (ii) statutory liability insurance required under Chapter 90, General
               Laws of Massachusetts,

          until 90 days following approval of the Broad Exclusion Provision by
          the Governmental Authority having jurisdiction thereof.

          (4)  Without in any way restricting the operation of paragraph (1) of
               this Clause, it is understood and agreed that paragraphs (2) and
               (3) above are not applicable to original liability policies of
               the Reassured in Canada and that with respect to such policies
               this Clause shall be deemed to include the Nuclear Energy
               Liability Exclusion Provisions adopted by the Canadian
               Underwriters' Association or the Independent Insurance Conference
               of Canada.

*NOTE. The words printed in italics in the Limited Exclusion Provision and in
       the Broad Exclusion Provision shall apply only in relation to original
       liability policies which include a Limited Exclusion Provision or a Broad
       Exclusion Provision containing those words.

                                       24

<PAGE>

           NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-REINSURANCE-CANADA

1.   This Agreement does not cover any loss or liability accruing to the
     Reinsured as a member of, or subscriber to, any association of insurers or
     reinsurers formed for the purpose of covering nuclear energy risks or as a
     direct or indirect reinsurer of any such member, subscriber or association.

2.   Without in any way restricting the operation of paragraph I of this clause
     it is agreed that for all purposes of this Agreement all the original
     liability contracts of the Reinsured, whether new, renewal or replacement,
     of the following classes, namely,

     Personal Liability.
     Farmers' Liability.
     Storekeepers' Liability.

     which become effective on or after 31st December 1992, shall be deemed to
     include, from their inception dates and thereafter, the following
     provision:

     Limited Exclusion Provision.

     This Policy does not apply to bodily injury or property damage with respect
     to which the Insured is also insured under a contract of nuclear energy
     liability insurance (whether the Insured is unnamed in such contract and
     whether or not it is legally enforceable by the Insured) issued by the
     Nuclear Insurance Association of Canada or any other group or pool of
     insurers or would be an Insured under any such policy but for its
     termination upon exhaustion of its limits of liability.

     With respect to property, loss of such property shall be deemed to be
     property damage.

3.   Without in any way restricting the operation of paragraph I of this clause
     it is agreed that for all purposes of this Agreement all the original
     liability contracts of the Reinsured, whether new, renewal or replacement,
     of any class whatsoever (other than Personal Liability, Farmers' Liability,
     Storekeepers' Liability or Automobile Liability contracts), which become
     effective on or after 31st December 1992, shall be deemed to include from
     their inception dates and thereafter, the following provision:

     Broad Exclusion Provision.

     It is agreed that this Policy does not apply:

     (a)  to liability imposed by or arising from any nuclear liability act, law
          or statute or any law amendatory thereof; nor

     (b)  to bodily injury or property damage with respect to which an Insured
          under this policy is also insured under a contract of nuclear energy
          liability

                                       25

<PAGE>

          insurance (whether the Insured is unnamed in such contract and whether
          or not it is legally enforceable by the Insured) issued by the Nuclear
          Insurance Association of Canada or any other insurer or group or pool
          of insurers or would be an Insured under any such policy but for its
          termination upon exhaustion of its limit or liability; nor

     (c)  to bodily injury or property damage resulting directly or indirectly
          front the nuclear energy hazard arising from:

          (i)  the ownership, maintenance, operation or use of a nuclear
               facility by or on behalf of an Insured;

          (ii) the furnishing by an Insured of services, materials, parts or
               equipment in connection with the planning, construction,
               maintenance, operation or use of any nuclear facility; and

          (iii) the possession, consumption, use, handling, disposal or
               transportation of fissionable substances, or of other radioactive
               material (except radioactive isotopes, away from a nuclear
               facility, which have reached the final stage of fabrication so as
               to be usable for any scientific, medical, agricultural,
               commercial or industrial purpose) used, distributed, handled or
               sold by an Insured.

          As used in this Policy:

l.   The term "nuclear energy hazard" means the radioactive, toxic, explosive,
     or other hazardous properties of radioactive material;

2.   The term "radioactive material" means uranium, thorium, plutonium,
     neptunium, their respective derivatives and compounds, radioactive isotopes
     of other elements and any other substances which may be designated by or
     pursuant to any law, act or statute, or law amendatory thereof as being
     prescribed substances capable of releasing atomic energy, or as being
     requisite for the production, use of application of atomic energy;

3.   The term "nuclear facility" means:

     (a)  any apparatus designed or used to sustain nuclear fission in
          self-supporting chain reaction or to contain a critical mass of
          plutonium, thorium or uranium or any one or more of them;

     (b)  any equipment or device designed or used for (i) separating the
          isotopes of plutonium, thorium and uranium or any one or more of them.
          (ii) processing or utilizing spent fuel, or (iii) handling, processing
          or packaging waste;

     (c)  any equipment or device used for the processing, fabricating or
          alloying of plutonium, thorium or uranium enriched in the isotope
          uranium 233 or in

                                       26

<PAGE>

          the isotope uranium 235, or any one or more of them if at any time the
          total amount of such material in the custody of the Insured at the
          premises where such equipment or device is located consists of or
          contains more than 25 grams of plutonium or uranium 233 or any
          combination thereof, or more than 250 grams of uranium 235;

     (d)  any structure, basin, excavation, premises or place prepared or used
          for the storage or disposal of waste radioactive material;

     and includes the site on which any of the foregoing is located, together
     with all operations conducted thereon and all premises used for such
     operations.

4.   The term "fissionable substance" means any prescribed substance that is, or
     from which can be obtained, a substance capable of releasing atomic energy
     by nuclear fission.

5.   With respect to property, loss of use of such property shall be deemed to
     be property damage.

     NMA 1979a (01/04/96) Form approved by Lloyd's Underwriters' Non-Marine
     Association Limited

                                       27

<PAGE>

           NUCLEAR ENERGY RISKS EXCLUSION CLAUSE (REINSURANCE) (1994)

                      (WORLDWIDE EXCLUDING U.S.A. & CANADA)

This agreement shall exclude Nuclear Energy Risks whether such risks are written
directly and/or by way of reinsurance and/or via Pools and/or Associations.

For all purposes of this agreement Nuclear Energy Risks shall mean all first
party and/or third party insurances or reinsurances (other than Workers'
Compensation and Employers' Liability) in respect of: -

(I)  All Property on the site of a nuclear power station.

     Nuclear Reactors, reactor buildings and plant and equipment therein on any
     site other than a nuclear power station.

(II) All Property, on any site (including but not limited to the sites referred
     to in (I) above) used or having been used for: -

     a) The generation of nuclear energy; or
     b) The Production, Use or Storage of Nuclear Material.

(III) Any other Property eligible for insurance by the relevant local Nuclear
     Insurance Pool and/or Association but only to the extent of the
     requirements of that local Pool and/or Association.

(IV) The supply of goods and services to any of the sites, described in (I) to
     (III) above, unless such insurances or reinsurances shall exclude the
     perils of irradiation and contamination by Nuclear Material.

Except as undernoted, Nuclear Energy Risks shall not include: -

(i)  Any insurance or reinsurance in respect of the construction or erection or
     installation or replacement or repair or maintenance or decommissioning of
     Property as described in (I) to (III) above (including contractors' plant
     and equipment);

(ii) Any Machinery Breakdown or other Engineering insurance or reinsurance not
     coming within the scope of (I) above;

Provided always that such insurance or reinsurance shall exclude the perils of
irradiation and contamination by Nuclear Material.

However, the above exemption shall not extend to: -

(I)  The provision of any insurance or reinsurance whatsoever in respect of:

     (a)  Nuclear Material;

                                       28<PAGE>
                                                                   Exhibit 10.29

                                                           CARVILL AMERICA, INC.
                                                         The Pinnacle, Suite 375
                                                         3455 Peachtree Road, NE
                                                          Atlanta, Georgia 30326
                                                         Telephone: 404-475-0314
                                                         Facsimile: 404-475-0439

<TABLE>
<S>                   <C>
TITLE                 EXCESS CESSION REINSURANCE CONTRACT

BETWEEN               DARWIN NATIONAL ASSURANCE COMPANY, DARWIN SELECT INSURANCE
                      COMPANY, CAPITOL INDEMNITY CORPORATION, CAPITOL SPECIALTY
                      INSURANCE CORPORATION, PLATTE RIVER INSURANCE COMPANY
                      AND/OR ANY OTHER ASSOCIATED, AFFILIATED OR SUBSIDIARY
                      COMPANIES OF ALLEGHANY INSURANCE HOLDING LLC, BUT ONLY IN
                      RESPECT OF BUSINESS UNDERWRITTEN BY DARWIN PROFESSIONAL
                      UNDERWRITERS, INC.

                      AND

                      THE REINSURERS SIGNATORY HERETO

COMMENCING            SEPTEMBER 1, 2005

U.S. CLASSIFICATION   U.S. REINSURANCE
</TABLE>

<PAGE>

                                    CONTENTS

<TABLE>
<CAPTION>
PREAMBLE   IDENTITY OF PARTIES
--------   -------------------
<S>                                                                          <C>
ARTICLE 1  BUSINESS REINSURED.............................................    1
ARTICLE 2  EXCLUSIONS.....................................................    1
ARTICLE 3  COVER, LIMIT AND RETENTION.....................................    3
ARTICLE 4  TERRITORIAL SCOPE..............................................    3
ARTICLE 5  PERIOD.........................................................    3
ARTICLE 6  SPECIAL TERMINATION CLAUSE.....................................    4
ARTICLE 7  FOLLOW THE FORTUNES............................................    5
ARTICLE 8  EXCESS OF ORIGINAL POLICY LIMITS...............................    5
ARTICLE 9  EXTRA-CONTRACTUAL OBLIGATIONS..................................    6
ARTICLE 10 PREMIUM........................................................    7
ARTICLE 11 CEDING COMMISSION..............................................    7
ARTICLE 12 ACCOUNTS AND REPORTS...........................................    8
ARTICLE 13 NOTICE OF LOSS AND LOSS SETTLEMENTS............................    8
ARTICLE 14 INTEREST PENALTY...............................................    9
ARTICLE 15 UNEARNED PREMIUM AND LOSS RESERVES.............................   10
ARTICLE 16 CURRENCY.......................................................   12
ARTICLE 17 TAX PROVISIONS.................................................   13
ARTICLE 18 INSOLVENCY OF THE REASSURED....................................   13
ARTICLE 19 OFFSET.........................................................   14
ARTICLE 20 DELAYS, ERRORS AND OMISSIONS...................................   14
ARTICLE 21 AMENDMENTS AND ALTERATIONS.....................................   14
ARTICLE 22 ACCESS TO RECORDS AND CLAIMS REVIEW............................   15
ARTICLE 23 ARBITRATION....................................................   15
</TABLE>

<PAGE>

<TABLE>
<S>                                                                          <C>
ARTICLE 24 SERVICE OF SUIT................................................   16
ARTICLE 25 CONFIDENTIALITY................................................   17
ARTICLE 26 REGULATORY COMPLIANCE..........................................   17
ARTICLE 27 INTERMEDIARY...................................................   17
ARTICLE 28 GOVERNING LAW..................................................   18
ARTICLE 29 PARTICIPATION..................................................   18
ARTICLE 30 SEVERAL LIABILITY NOTICE.......................................   18
</TABLE>

ATTACHMENTS:

1.   NUCLEAR INCIDENT EXCLUSION CLAUSES - LIABILITY - REINSURANCE -
     U.S.A./CANADA

2.   NUCLEAR ENERGY RISKS EXCLUSION CLAUSE - REINSURANCE - 1994 - (WORLDWIDE
     excluding U.S.A. and CANADA)

                                       ii

<PAGE>

                       EXCESS CESSION REINSURANCE CONTRACT

PREAMBLE

This Contract is made and entered into between Darwin National Assurance
Company, Darwin Select Insurance Company, Capitol Indemnity Corporation, Capitol
Specialty Insurance Corporation, Platte River Insurance Company and/or any other
associated, affiliated or subsidiary companies of Alleghany Insurance Holding
LLC, but only in respect of business underwritten by Darwin Professional
Underwriters Inc. of 9 Farm Springs Road, Farmington, Connecticut 06032 (NAIC
Group Code 10472) (hereinafter referred to as "the Reassured") and the
Reinsurers signatory hereto (hereinafter referred to as "the Reinsurers"), on
the following terms and conditions:

                                   ARTICLE 1

                               BUSINESS REINSURED

This Contract applies to policies of insurance classified by the Reassured as
Managed Care Organizations Errors and Omissions Liability.

It is understood and agreed all accounts covered hereon are to be approved prior
to binding by the Darwin Professional Underwriters Chief Underwriting Officer,
Senior Vice President of Underwriting or Healthcare Practice Leader.

For the purposes of this Contract, the terms "policy", "policies" or "original
policies" as used herein shall be understood to mean all binders, policies,
contracts, endorsements or other evidence of insurance issued in the name of the
Reassured.

                                   ARTICLE 2

                                   EXCLUSIONS

This Contract does not apply to and absolutely excludes the following:

1.   Nuclear Incidents, in accordance with the attached Nuclear Incident
     Exclusion Clauses - Liability - Reinsurance - U.S.A./Canada.

2.   Nuclear Energy Risks, in accordance with the attached Nuclear Energy Risks
     Exclusion Clause (Reinsurance) (1994) (Worldwide excluding U.S.A. and
     Canada).

3.   All liability of the Reassured arising by contract, operation of law, or
     otherwise, from its participation or membership, whether voluntary or
     involuntary, in any Insolvency Fund. "Insolvency Fund" includes any
     guarantee fund, insolvency fund, plan, pool, association, fund or other
     arrangement, howsoever denominated, established or governed, which provides
     for any assessment of or payment or assumption by the Reassured of part or
     all of any claim, debt, charge, fee or other obligation of an insurer, or
     its successors or assigns, which has been declared by

<PAGE>

     any competent authority to be insolvent, or which is otherwise deemed
     unable to meet any claim, debt, charge, fee or other obligation in whole or
     in part.

4.   Liability assumed by the Reassured as a Member or Reinsurer of any Pool,
     Association or Syndicate.

5.   Financial Guarantee and Insolvency Insurance.

6.   Surety Business.

7.   Reinsurance Assumed Business, other than policies "fronted" by another
     carrier and individually underwritten by Darwin Professional Underwriters,
     Inc, and Inter-Company Pooling Arrangements.

8.   Retrospectively rated business.

9.   Any account where the Reassured does not provide USD10,000,000 in
     underlying MCO E&O coverage on either a primary or on an underlying excess
     basis.

10.  The following accounts: Aetna Inc., Cigna Corp., United Healthgroup Inc.
     and Wellpoint Inc..

It is understood and agreed that for all accounts submitted for special
acceptance, the Reassured will provide to Reinsurers the following information
only:

     -    A copy of the underwriting work-up on the account.

     -    An account loss history.

     -    The terms, conditions and pricing of the program the Reassured expect
          to quote or have quoted already using their USD10,000,000 of net and
          treaty capacity.

     -    The terms, conditions and pricing of all other carriers' underlying
          layers.

     -    The terms, conditions and pricing that the Reassured propose to offer
          within this Contract.

Upon receipt of the above information, the Reinsurers will provide their
underwriting decision on any account submitted for special acceptance within 2
working days it being understood that if not received within the allotted
timeframe the account will be automatically approved and accepted under this
Contract.

                                        2

<PAGE>

                                   ARTICLE 3

                           COVER, LIMIT AND RETENTION

This contract applies to all original policies coming within the scope of this
Contact which are issued by the Reassured for limits up to USD10,000,000 each
and every loss, each Insured, each policy/program excess of a minimum underlying
of USD10,000,000 each and every loss, each Insured, each policy/program.

Reinsurers hereon to bear their proportional share of all loss adjustment and
defense cost expenses, as per the original policy. Original policies may provide
for costs inclusive or costs in addition coverage. Where coverage is issued on a
costs inclusive basis, costs shall be included within the limit hereon. Where
coverage is issued on a cost in addition basis, pro rata costs shall be payable
in addition to the limit hereon.

The Reassured shall be at liberty to omit cessions hereunder, when they consider
it in the best interests of the Reinsurers to do so.

The meaning of "each and every loss", "claim", "claim made" and "losses
discovered" shall follow the definitions in the policies covered hereunder, as
finally determined by the Reassured. The Reassured shall also be the determinant
of what constitutes "each Insured", "each coverage", "each section" and "each
policy".

Where the Reassured issues more than one policy to the same original insured
covering the same class of business, (such as on a layered basis), then the
combination of such policies shall be considered a program for the purposes
hereof, as reasonably determined by the Reassured.

It is warranted that the Reassured shall retain not less than 10.0% of liability
and premium in respect of each cession hereunder, net and unreinsured, except
for internal reinsurance and/or Catastrophe Excess of Loss Reinsurance.

Notwithstanding any other provision of this Contract, the maximum recoverable
hereon shall not exceed (for 100%) USD50,000,000.

                                   ARTICLE 4

                                TERRITORIAL SCOPE

This Contract shall cover wherever the original policies cover.

                                   ARTICLE 5

                                     PERIOD

This Contract shall cover claims made on original policies issued or renewed
during the period September 1, 2005 12:01 a.m. Standard Time to October 1st,
2006 12:01 a.m. Standard Time at the place and location of risks insured.

                                        3

<PAGE>

The maximum original policy period shall be 12 months plus odd time not to
exceed 18 months in all, plus extended reporting period coverage or
endorsements, as original. Such extended reporting period coverage or
endorsements shall be limited to 36 months or so deemed, or such longer period
as required by State Regulations.

For the purposes of this Contract, any extension, discovery period or extended
reporting endorsement attaching to a policy covered hereunder shall he
considered as part of the period of the said policy, subject to the provision
that a separate limit of liability will not apply in respect thereof.

Upon expiry of this Contract, policies in force at the effective time and date
of expiration hereof shall continue to be covered hereunder until their
individual natural expiration or termination dates, whichever sooner, including
extensions, discovery periods or other similar extended reporting endorsements
attaching to such policies. The Reassured may however, subject to agreement by
Reinsurers hereon, terminate the liability of the Reinsurers for claims made or
losses discovered, as applicable on or after the effective time and date of
expiration hereof and, in such event, the unearned premium on all ceded policies
attaching hereunder shall be returned to the Reassured by the Reinsurer less any
ceding commission previously allowed on unearned premium.

                                   ARTICLE 6

                           SPECIAL TERMINATION CLAUSE

A.   Either party may terminate this Contract upon 30 days' notice in the event
     that the other party's surplus has been reduced by 30% or more of the
     amount of surplus at June 30th, 2005.

B.   The Reassured may terminate the Reinsurer's participation hereon at any
     time by giving 30 days' prior written notice to the Reinsurer in the event
     that:

     (1)  A State Insurance Department or other legal authority has ordered the
          subscribing Reinsurer to cease writing business; or

     (2)  The subscribing Reinsurer has become insolvent or has been placed into
          liquidation or receivership or proceedings have been instituted
          against the subscribing Reinsurer for the appointment of a receiver,
          liquidator, rehabilitator, conservator or trustee in bankruptcy, or
          other agents known by whatever name, to take possession of its assets
          or control of its operation; or

     (3)  The subscribing Reinsurer has reinsured its entire liability under
          this Contract without the Reassured's prior written consent. However,
          the Reinsurer shall be at liberty to effect catastrophe excess and/or
          aggregate stop loss excess reinsurance; or

     (4)  The subscribing Reinsurer has ceased assuming new and renewal treaty
          reinsurance business; or

                                        4

<PAGE>

     (5)  The subscribing Reinsurer experiences a downgrading in their financial
          strength rating from Standard and Poor's Group below BBB or a
          downgrading in rating from A.M. Best Company below A-.

In the event of such termination, the liability of the Reinsurer shall be
terminated as follows:

Policies in force at the effective time and date of termination of this Contract
shall continue to be covered hereunder until their individual expiration dates,
including extensions, discovery periods or other such similar reporting
endorsements or provisions attached thereto. For rating purposes, the applicable
Original Gross Net Written Premium Income shall be calculated on policies issued
or renewed from the inception date of this Contract to the effective time and
date of termination of this Contract.

The Reassured may however terminate the liability of the Reinsurer for claims
made or losses discovered, as original, after the effective time and date of
termination of this Contract and, in such event, the unearned premium at the
termination date applicable to in force policies, including extensions,
discovery periods or other similar extended reporting endorsements or provisions
attached thereto, shall be returned to the Reassured by the Reinsurer less any
ceding commission previously allowed on unearned premium.

                                   ARTICLE 7

                               FOLLOW THE FORTUNES

This Contract shall be construed as an honorable undertaking between the
Reassured and the Reinsurers and shall not be defeated by technical legal
restrictions, it being the intention of this Contract that the fortunes of the
Reinsurers shall follow in all respects the fortunes of the Reassured on all
original policies and contracts of insurance ceded to this Contract.

It is understood however, that this Contract is a contract of reinsurance
separate and distinct from the original policies issued by the Reassured. Except
as provided for in INSOLVENCY OF THE REASSURED the Reinsurers will not, under
any circumstances whatsoever, be directly liable to the original insureds.

                                   ARTICLE 8

                        EXCESS OF ORIGINAL POLICY LIMITS

In addition to the coverage afforded under COVER, LIMIT AND RETENTION should the
Reassured incur additional liability as the result of an award in excess of
their original policy limit as defined below, the Reinsurers shall accept the
additional liability incurred solely on cessions made hereunder, up to an
additional Contract limit in addition to any contractual loss hereunder (subject
to the Reassured's 10.0% co-participation hereon), it being understood the
maximum additional recoverable in respect of specific excess of original policy
limits and extra contractual obligations coverage shall be USD10,000,000 any one
claim. However, specific Excess of Original Policy Limits coverage afforded

                                        5

<PAGE>

under the Reassured's underlying Excess of Loss and Excess Cession Reinsurance
Contracts shall inure to the benefit of Reinsurers hereon. No separate
underlying retention of USD10,000,000 shall apply to such additional Excess of
Original Policy Limits coverage hereunder.

Awards in excess of the original policy limit are defined as contractual losses
which the Reassured may be legally liable to pay, but in excess of the original
policy limit, such losses in excess of the original policy limit having been
incurred because of, but not limited to, the following: failure by the Reassured
to settle within the original policy limit or by reason of alleged or actual
negligence, fraud or bad faith in rejecting an offer of settlement or in the
preparation of the defense or in the trial of any action against an insured or
in the preparation or prosecution of an appeal consequent upon such action.

The date on which any liability in excess of original policy limits is incurred
by the Reassured shall be deemed, in all circumstances, to be the date the
original claim was made or occurred.

However, this Article shall not apply where such awards in excess of original
policy limit have been incurred due to the fraud of a member of the Board of
Directors or a corporate officer of the Reassured acting individually or
collectively or in collusion with any individual or corporation or any other
organization or party involved in the presentation, defense or settlement of any
claim.

                                   ARTICLE 9

                          EXTRA-CONTRACTUAL OBLIGATIONS

In addition to the coverage afforded under COVER, LIMIT AND RETENTION should the
Reassured incur additional liability as the result of an award in respect of any
extra-contractual obligations, as defined below, the Reinsurers shall accept the
additional liability incurred solely on cessions made hereunder, up to an
additional Contract limit in addition to any contractual loss hereunder (subject
to the Reassured's 10.0% co-participation hereon), it being understood the
maximum additional recoverable in respect of specific excess of original policy
limits and extra contractual obligations coverage shall be USD10,000,000 any one
claim. However, specific Extra Contractual Obligations coverage afforded under
the Reassured's underlying Excess of Loss and Excess Cession Reinsurance
Contracts shall inure to the benefit of Reinsurers hereon. No separate
underlying retention of USD10,000,000 shall apply to such additional Extra
Contractual Obligations coverage hereunder.

"Extra-contractual obligations" are defined as those liabilities not covered
under any other provision of this Contract and which arise from the handling of
any claim on business covered hereunder, such liabilities arising because of,
but not limited to, the following: failure by the Reassured to settle within the
policy limit, or by reason of alleged or actual negligence, fraud or bad faith
in rejecting an offer of settlement or in the preparation of the defense or in
the trial of any action against an insured or in the preparation or prosecution
of an appeal consequent upon such action.

                                        6

<PAGE>

The date on which any extra-contractual obligation is incurred by the Reassured
shall be deemed, in all circumstances, to be the date the original claim was
made or occurred.

Recoveries, collectibles or retentions from any other form of insurance or
reinsurance including deductibles or self-insured retentions that protect the
Company against Extra Contractual Obligations shall inure to the benefit of the
Reinsurers and shall be deducted from the total amount of Extra Contractual
Obligations for purposes of determining the loss hereunder.

However, this Article shall not apply where such extra-contractual obligations
have been incurred due to the fraud of a member of the Board of Directors or a
corporate officer of tile Reassured acting individually or collectively or in
collusion with any individual or corporation or any other organization or party
involved in the presentation, defense or settlement of any claim.

                                   ARTICLE 10

                                     PREMIUM

In consideration of the liabilities undertaken by tile Reinsurers in accordance
with the terms of this Contract, the Reassured shall pay to the Reinsurers their
proportion of the Reassured's Original Gross Net Written Premium for limits
attaching hereon, generated in accordance with the Increased Limit Factors
(ILF's) established by the Reassured for each class of business covered
hereunder.

All accounts covered hereunder will be subject to the following minimum premium
criteria or so deemed:

     1.   Any account with 2,500,000 or less enrollees - minimum USD12,500 per
          million of policy limit.

     2.   Any account with 2,500,001 - 7,500,000 enrollees - minimum USD15,000
          per million of policy limit.

     3.   Any account with more than 7,500,000 enrollees - minimum USD25,000 per
          million of policy limit.

Reference to number of enrollees above shall be in respect of the number of
enrollees at the time the account is bound.

                                   ARTICLE 11

                                CEDING COMMISSION

The Reinsurers shall allow the Reassured to deduct and retain for their own
benefit as ceding commission title original acquisition costs plus 12.5% of
ceded Original Gross Net Written Premium payable to the Reinsurers in accordance
with the terms of the PREMIUM Article, not to exceed 22.5% in the aggregate for
all cessions covered

                                        7

<PAGE>

hereunder. A commission calculation will be prepared by the Reassured within 60
days of the expiry of this Contract, and in the event the commission charged
exceeds the maximum allowed the difference will be returned to the Reinsurers
with the commission calculation. There shall be a further adjustment 12 months
after the expiry hereof.

                                   ARTICLE 12

                              ACCOUNTS AND REPORTS

Accounts shall be rendered quarterly in arrears. Premium and bordereaux of
cessions shall be rendered by the Reassured within 45 days of the end of each
calendar quarter, that is within 45 days of September 30, 2005 and quarterly
thereafter.

                                   ARTICLE 13

                       NOTICE OF LOSS AND LOSS SETTLEMENTS

The Reinsurers agree to abide by all loss settlements of the Reassured which at
its sole discretion shall adjust, settle or compromise all losses and all such
adjustments, settlements or compromises shall be binding upon Reinsurers subject
to the terms, conditions and limitations of the original policies and this
Contract.

The Reassured shall provide individual loss reports to the Reinsurers of all
claims reserved at or above USD5,000,000, and in the event of loss settlements
by the Reassured, the Reinsurers agree to settle to the Reassured their
proportion of such loss settlements immediately upon receipt of satisfactory
proof of loss.

Where the Reassured's original policies and/or specific coverage parts of their
original policies provide for loss adjustment expenses in addition to limit, all
loss adjustment expenses paid by the Reassured shall be apportioned in
proportion to the respective interests in the loss of the parties hereto as such
interests finally appear and shall be in addition to their share of the loss
recoverable hereunder. In the event a verdict or judgment is reduced by an
appeal or a settlement, subsequent to the entry of the judgment, resulting in an
ultimate saving on such verdict or judgment, or a judgment is reversed outright,
the expense incurred in securing such final reduction or reversal shall be
pro-rated between the Reinsurers and the Reassured in the proportion that each
benefits from such reduction or reversal; and the expenses incurred up to the
time and date of the original verdict or judgment shall be pro-rated in
proportion to each party's interest in such verdict or judgment.

Notwithstanding the foregoing, in the event that the Reassured's original
policies and/or specific coverage parts of their original policies are issued
with loss adjustment expenses included within the original policy limit, such
loss adjustment expenses shall be included as Loss for the purposes of recovery
hereunder.

In the event of external legal or external adjustment expenses, including
outside monitoring counsel expenses, which are incurred by the Reassured in
connection with a claim or potential claim hereunder and which are not the
subject of the Reassured's

                                        8

<PAGE>

original policy, then Reinsurers shall also be liable for their proportion of
such expenses in addition to their share of the loss recoverable hereunder.

The Reinsurers shall also accept additional liability, solely on cessions made
hereunder, for legal expenses incurred in respect of coverage questions and
legal actions in connection with a claim or potential claim hereunder
(hereinafter referred to as "declaratory judgment and/or rescission expenses").
It being understood and agreed that:

     1.   When there is no contractual loss, other than declaratory judgment
          and/or rescission expenses, the declaratory judgment and/or rescission
          expenses shall be considered a Loss for the purposes of recovery
          hereunder.

     2.   When a contractual loss, exclusive of declaratory judgment and/or
          rescission expenses, is incurred hereunder, the Reinsurers shall be
          liable for their proportionate share of such declaratory judgment
          and/or rescission expenses, as the respective interests in the loss of
          the parties hereto finally appear, up to an additional limit of this
          Contract in addition to any Loss recoverable hereunder.

Declaratory judgment expense as used in this Contract shall mean all expenses
incurred by the Reassured in connection with declaratory judgment actions
brought to determine the Reassured's defense and/or indemnification obligations
that are allocable to specific policies and claims subject to this Contract. Any
declaratory judgment expense shall be deemed to have been fully incurred by the
Reassured on the date of the actual or alleged loss under the Reassured's policy
giving rise to the action.

For the purposes of this Contract loss adjustment expenses shall include all
expenses of litigation, including post judgment interest, but shall exclude the
salaries of regular employees and all office expenses of the Reassured.

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.

                                   ARTICLE 14

                                INTEREST PENALTY

The provisions of this Article shall not be implemented unless specifically
invoked, in writing, by the Reassured or Reinsurer. The interest amounts
provided for in this Article will apply to the Reinsurer or to the Reassured in
the following circumstances:-

     1.   Loss payment owed by the Reinsurer to the Reassured shall have a due
          date to the Reassured of 45 calendar days following the date of the
          Reinsurer's receipt of the billing, but no later than 90 days from the
          Reassured's date of the billing.

     2.   Payment of any premium installments shall be due to the Reinsurer
          within 30 calendar days of the date specified in this Contract. Any
          premium adjustments

                                        9

<PAGE>

          will be due by the debtor party within 60 calendar days of the date
          specified in this Contract.

     3.   Payment of return premiums, commissions, profit sharing, or any other
          amounts not provided in paragraphs 1 or 2 above, shall be due by the
          debtor party within 60 calendar days of the due date specified in this
          Contract. If no due date is specified, the due date shall be 60 days
          following the date of the debtor party's receipt of the billing, but
          no later than 90 days from the creditor party's date of the billing.

     4.   Failure by the Reinsurer or Reassured to comply with their respective
          payment obligations within the time periods as herein provided will
          result in a compound interest penalty payable at a rate equal to the
          90 day Treasury Bill rate as published in the Money Rate Section or
          any successor section of the Wall Street Journal on the first business
          day following the date a remittance becomes due, plus 2% per annum, to
          be compounded and adjusted quarterly. Any interest which occurs
          pursuant to this Article shall be calculated by the party to which it
          is owed. The accumulation of the number of days that any payment is
          past due will stop on the date the Intermediary, where applicable,
          receives payment.

     5.   The validity of any claim or payment may be contested under the
          provisions of this Contract. If the debtor party prevails in such
          action, there shall be no interest penalty due. Otherwise, any
          interest will be calculated and due as outlined above.

     6.   If a Reinsurer advances payment of any claim it is contesting, and
          prevails such action, the Reassured shall return such payment plus pay
          interest on same, calculated as per the provisions of this Article.

     7.   Any interest which occurs pursuant to this Article may be waived by
          the party to which it is owed. Further, any interest which is
          calculated pursuant to this Article that is USD100 or less shall be
          waived. Waiver of such interest, however, shall not affect the waiving
          party's right to similar interest for any other failure by the other
          party to make payment when due under this Article.

     8.   Nothing in this Article shall diminish any legal remedies which either
          party may have against the other.

                                   ARTICLE 15

                       UNEARNED PREMIUM AND LOSS RESERVES

This Article applies only to those Reinsurers signatory hereto who do not
qualify for credit under the regulations of the State insurance authorities or
departments which have jurisdiction over the Reassured's reserves.

The Reassured agrees that when, for its Annual Convention Statement purposes, it
files with the authorities or departments mentioned above or sets up in its
books statutory reserves for known outstanding losses and allocated loss
expenses reinsured by this

                                       10

<PAGE>

Contract, for unearned premium in respect of business coming within the scope of
this Contract, or for incurred but not reported losses (IBNR), hereinafter "The
Stated Reserves", it shall forward to the Reinsurers a clear statement of the
Reinsurers' proportion of The Stated Reserves detailing separately the amounts
involved for known outstanding losses and allocated loss expenses and for
unearned premium and IBNR, and also how those amounts are calculated. Reserves
for IBNR shall be equal to the actual amount of IBNR carried on the books of the
Reassured for statutory reporting purposes.

The Reinsurers, promptly upon receipt of the Reassured's statement, shall apply
for, and secure delivery to the Reassured of, clean irrevocable and
unconditional Letters of Credit or such equivalent funding acceptable to the
Reassured, for the benefit of the Reassured in amounts equal to their proportion
of The Stated Reserves.

All Letters of Credit procured pursuant to this Contract shall be issued by a
Bank which is a Member of the Federal Reserve and acceptable to the authorities
or departments mentioned in the first paragraph of this Article current at the
date of the Reassured's statement. Such Letter of Credit shall be in full
conformity with the requirements of such authorities or departments.

Further, all such Letters of Credit shall be "Evergreen" in that they shall be
issued for an initial period of not less than one year and shall be
automatically extended for one year from their original expiration dates and
subsequently from their extended expiration dates unless and until, at least
thirty days before any expiration date, the issuing bank gives notice to the
Reassured by registered mail that the issuing bank elects not to extend the life
of the Letter of Credit in question beyond its forthcoming expiration date.

In consideration of the contract of the Reinsurers to furnish such Letters of
Credit to the Reassured to enable it to obtain credit for the reinsurance
provided under this Contract, the Reassured hereby undertakes to hold such
Letters of Credit and the proceeds of any drawings made upon them in trust for
the Reinsurers and to use and apply the proceeds of any such drawings for the
following purposes only:

a.   To pay the Reinsurers' share or to reimburse the Reassured for that share
     of any liability for loss or allocated loss expense reinsured by this
     Contract or for unearned premium in respect of business coming within the
     scope of this Contract;

b.   To refund to the Reinsurers any balance by which the amount of the Letter
     of Credit exceeds the Reinsurers' proportion of any liability for loss or
     allocated loss expense reinsured by this Contract, incurred but not
     reported losses (IBNR) or for unearned premium in respect of business
     coming within the scope of this Contract.

c.   In the event that one or more of the Reinsurers participating in the Letter
     of Credit gives timely notice of cancellation or non-renewal of their
     participation in the Letter of Credit and provided that the obligations
     secured by the Letter of Credit remain unliquidated and undischarged at the
     time of receipt by the Reassured of

                                       11

<PAGE>

     such notice, the Reassured shall create a cash deposit account, separate
     from its own assets, in an amount equal to the participation of the
     canceling or non-renewing Reinsurer(s) in the Letter of Credit. That cash
     deposit account may then be used as in subparagraphs a. and b. above. It is
     understood and agreed that this procedure may only be implemented before
     the expiry of the notice period in respect of cancellation or non-renewal
     and that if it is implemented, the Reassured will ensure that a rate of
     interest is obtained for the Reinsurers on such a deposit account that is
     at least equal to the rate which would be paid by Citibank N.A. in New
     York, and further that the Reassured will account to the Reinsurers on an
     annual basis for all interest accruing on the cash deposit account for the
     benefit of the Reinsurers.

The issuing bank shall have no responsibility whatsoever in connection with the
propriety of drawings made by the Reassured on the Letters of Credit issued
under this Contract or in connection with the disposition of any funds so
withdrawn, except to ensure that drawings are made only upon the order of
properly authorized representatives of the Reassured.

All Letters of Credit procured for the Reassured under this Contract shall be
adjusted at annual intervals, or more frequently as agreed (but never more
frequently than quarterly), to reflect the current balance of the Reinsurers'
proportion of the Reassured's known outstanding loss and allocated loss expense
reserves and unearned premium reserves, and the Reassured shall produce a
statement for this purpose detailed in the same way as the original statement on
the basis of which such Letters of Credit were first issued. If the statement
shows that the Reinsurers' proportion of such losses and allocated expenses,
IBNR or unearned premium reserves exceeds the current amount of the Letters of
Credit, the Reinsurers shall, within thirty days after receipt of the statement,
secure the amendment of the Letters of Credit increasing their amount to the
amount of the current balance of these items. If, however, the statement shows
that the Reinsurers' proportion of the current balance of those items is less
than the amount of the Letters of Credit the Reassured shall, within thirty days
of receipt of a written request from the Reinsurers to do so, facilitate the
release of the excessive security by authorizing the amendment of the Letters of
Credit so as to reduce their amount to the current balance required.

All expenses incurred in the establishment or maintenance of such Letters of
Credit shall be paid by the Reinsurers.

                                   ARTICLE 16

                                    CURRENCY

The currency to be used for all purposes of this Contract shall be United States
Dollars. All amounts paid or received by the Reassured in any other currency
shall be converted into United States Dollars at the rates of exchange at which
such transactions are converted in the books of the Reassured.

                                       12

<PAGE>

                                   ARTICLE 17

                                 TAX PROVISIONS

The Reassured shall be liable for all taxes (except Federal Excise Tax) levied
on it with respect to premiums payable to the Reinsurers hereunder. Federal
Excise Tax applies only to those Reinsurers, excepting Underwriters at Lloyd's,
London and other Reinsurers exempt from the Federal Excise Tax, who are
domiciled outside the United States of America.

To the extent that such premium is subject to Federal Excise Tax, the Reinsurers
hereby agree to allow as a deduction from the premium, for the purpose of paying
Federal Excise Tax, all applicable percentages of the premium payable hereon.

In the event of any return premium becoming due hereunder the Reinsurers will
deduct all applicable percentages from the amount of the return, and the
Reassured or its agents shall take steps to recover the tax from the Government
of the United States of America.

In consideration of the terms under which this Contract is issued, the Reassured
undertakes not to claim any deduction in respect of premium payable hereon when
making tax returns, other than Income or Profits tax returns, to any fiscal
authority of the United States of America or any State or Territory thereof.

                                   ARTICLE 18

                           INSOLVENCY OF THE REASSURED

Amounts due to the Reassured under this Contract shall be payable by the
Reinsurers on the basis of the liability of the Reassured under the original
policies reinsured hereunder without diminution because of the insolvency of any
one or all of the Reassured Companies.

In the event of the insolvency of the Reassured, the Liquidator or Receiver or
Statutory Successor of the Reassured shall give written notice to the Reinsurers
of the pendency of any claim against the insolvent Reassured on the original
policies reinsured hereunder within a reasonable time after such claim is filed
in the insolvency proceedings. During the pendency of such claim the Reinsurers
may investigate such claim and intervene, at their own expense, in the
proceedings where such claim is to be adjudicated and interpose any defense or
defenses which they may deem available to the Reassured or its Liquidator or
Receiver or Statutory Successor. The expense thus incurred by the Reinsurers
shall be chargeable, subject to court approval, against the insolvent Reassured
as part of the expense of liquidation to the extent of a proportionate share of
the benefit which may accrue to the Reassured solely as a result of the defense
so undertaken by the Reinsurers.

When two or more Reinsurers are involved in the same claim and a majority in
interest elect to investigate the claim and/or to interpose defense to such
claim, the expense shall

                                       13

<PAGE>

be apportioned in accordance with the terms of the above paragraph as though
such expense had been incurred by the Reassured.

Should the Reassured go into liquidation or should a receiver be appointed, the
Reinsurers shall be entitled to deduct from any sums which may be or may become
due to the Reassured under this Contract any sums which are due to the
Reinsurers from the Reassured under this Contract and which are payable at a
fixed or stated date, as well as any other sums due to the Reinsurers which are
permitted to be offset under applicable law.

In the event of the insolvency of the Reassured, the amounts due to the
Reassured under this Contract shall be payable by the Reinsurers directly to the
Reassured or to its Liquidator, Receiver or Statutory Successor.

It is the mutual intent of the parties that, in the event of the insolvency of
the Reassured, this Article shall be read to conform with the state or
regulatory requirements of the jurisdiction in which the liquidation or
receivership is conducted In the event that any provision of this Article is in
conflict with such state or regulatory requirements, then such provision shall
be reformed to be in compliance with such state or regulatory requirements.

                                   ARTICLE 19

                                     OFFSET

Each party hereto shall have, and may exercise in the event of insolvency of the
other or the non-payment by the other of obligations when due hereunder, the
right to offset any balance or balances whether on account of premiums,
commissions, claims or losses, adjustment expenses, salvage or any amount due
from that party to the other party hereto under this Contract only against any
balance or balances due or to become due to the offsetting party from the other
party under this Contract only. The terms of this Article shall apply separately
to this Contract and to each successive renewal of this Contract.

                                   ARTICLE 20

                          DELAYS, ERRORS AND OMISSIONS

No inadvertent delay, error or omission shall be held to relieve either party
hereto of any liability which would have attached to them under this Contract if
such delay, error or omission had not been made, provided that rectification is
made immediately upon discovery.

                                   ARTICLE 21

                           AMENDMENTS AND ALTERATIONS

The terms herein contained comprise the whole Contract between the Reassured and
the Reinsurers and may only be changed in writing, signed by or on behalf of
both parties.

                                       14

<PAGE>

                                   ARTICLE 22

                       ACCESS TO RECORDS AND CLAIMS REVIEW

All documents and records in the possession of the Reassured concerning this
Contract shall be made available upon reasonable notice at the request of the
Reinsurers for inspection at the Reassured's offices by the Reinsurers or their
nominated representatives for the purposes of obtaining information concerning
this Contract or the subject matter hereof.

Specifically, the Reinsurers shall be entitled to nominate a representative to
assess the Reassured's claims and claims procedures.

For the avoidance of doubt, it is hereby expressly agreed that the rights given
to the Reinsurers by this Article shall continue in effect notwithstanding the
expiration of this Contract and shall be exercised at the Reinsurers' own
expense.

                                   ARTICLE 23

                                   ARBITRATION

As a condition precedent to any right of action hereunder, all disputes or
differences arising out of or connected with this Contract (whether or not
arising before or after expiration) its interpretation or implementation, shall
be referred to arbitration in Farmington, Connecticut, U.S.A., the city in which
the Reassured's principal office is located.

Arbitration shall be initiated by the delivery of a written notice of demand for
arbitration by one party to the other within a reasonable time after the dispute
has arisen stating the nature of the dispute and the remedy sought. Those
Reinsurers involved in the dispute or other matter in controversy shall be
considered as one party for the purpose of allocating the cost of the
arbitration.

Each party shall appoint an individual as arbitrator and the two so appointed
shall then appoint a third arbitrator. If either party refuses or neglects to
appoint an arbitrator within sixty (60) days, the other party may appoint the
second arbitrator. If the two arbitrators do not agree on a third arbitrator
within sixty (60) days of their appointment, within ten (10) days thereafter the
two arbitrators will request the American Arbitration Association ("AAA") to
appoint a third arbitrator with the qualifications set forth below in this
Article without regard to the AAA's Commercial Arbitration Rules. If the AAA
fails to appoint a third arbitrator within thirty (30) days after its receipt of
the two arbitrators' request, either party may apply to a court of competent
jurisdiction to appoint a third arbitrator with the qualifications set forth
below in this Article. The third arbitrator will immediately notify each party
of his selection. In the event of the resignation or death of any member of the
arbitrator panel, a replacement will be appointed in the same manner as the
resigning or deceased member was appointed.

                                       15

<PAGE>

Each arbitrator shall be an active or retired officer of an insurance or
reinsurance company or Underwriter at Lloyd's London; no arbitrator shall have a
personal or financial interest in the result of the arbitration, and shall not
be a present or former officer, attorney, or consultant of the Reassured or the
Reinsurer or either's affiliates.

The arbitrators shall interpret this Contract as an honorable engagement and not
as merely a legal obligation; they are relieved of all judicial formalities and
may abstain from following the strict rules of law, and shall make any award
with a view to effecting the general purpose of this Contract in a reasonable
manner with due regard to the custom and usage of the insurance and reinsurance
business.

The arbitrators shall have full discretion to make such orders as they think fit
in connection with all procedural matters in the Arbitration, including but not
limited to the conduct of the reference by written or oral submissions, the
production of documents, the examination of witnesses, and the imposition of
time limits for the taking of necessary procedural steps. The arbitrators shall
also have full discretion to make such orders as they think fit with regard to
the payment of the costs of the Arbitration including attorneys' costs and fees.

If more than one Reinsurer is involved in the same dispute, all such Reinsurers
shall constitute and act as one party for purposes of this Article and
communications shall be made by the Reassured to each of the Reinsurers
constituting the one party, provided that nothing herein shall impair the rights
of such Reinsurers to assert several, rather than joint, defenses or claims, nor
be construed as changing the liability of the Reinsurers under the terms of this
Contract from several to joint.

Any Award or order of the arbitrators or a majority thereof shall be binding on
the parties and there shall be no right of appeal there from. For the purpose of
enforcement of any Award, an action may be brought in any Court of competent
jurisdiction.

Except as provided above, arbitration shall be based, insofar as applicable,
upon the procedures of the American Arbitration Association.

                                   ARTICLE 24

                                 SERVICE OF SUIT

It is agreed that in the event of the failure of the Reinsurer to pay any amount
awarded by the arbitration tribunal referred to in the Arbitration Clause
herein, the Reinsurers hereon, at the request of the Reassured, will submit to
the jurisdiction of a court of competent jurisdiction within the United States.
Nothing in this Article constitutes or should be understood to constitute a
waiver of Reinsurers' rights to commence an action in any court of competent
jurisdiction in the United States, to remove an action to a United States
District Court, or to seek a transfer of a case to another court as permitted by
the laws of the United States or of any state in the United States. It is
further agreed that service of process in such suit may be made upon Mendes &
Mount, 750 Seventh Avenue, New York, New York 10019, and that in any suit
instituted against any one of

                                       16

<PAGE>

them upon this Contract, Reinsurers will abide by the final decision of such
court or of any appellate court in the event of an appeal.

The above-named are authorized and directed to accept service of process on
behalf of Reinsurers in any such suit and/or upon the request of the Reassured
to give a written undertaking to the Reassured that they will enter a general
appearance upon Reinsurers' behalf in the event such a suit shall be instituted.

Further, pursuant to any statute of any state, territory or district of the
United States which makes provision therefore, Reinsurers hereon hereby
designate the Superintendent, Commissioner or Director of Insurance or other
officer specified for that purpose in the statute, or his successor or
successors in office, as their true and lawful attorney upon whom may be served
any lawful process in any action, suit or proceeding instituted by or on behalf
of the Reassured or any beneficiary hereunder arising out of this Contract of
reinsurance, and hereby designate the above-named as the person to whom the said
officer is authorized to mail such process or a true copy thereof.

                                   ARTICLE 25

                                 CONFIDENTIALITY

The confidential nature of this Contract is acknowledged by all parties.
Moreover, the Reinsurers will only disclose to third parties, such as
regulators, auditors, rating agencies, shareholders, reinsurers and the like,
such details of this Contract as are necessary to comply with their obligations
to such third parties as part of their normal business practice.

It is a condition binding on Reinsurers hereon that they may not disclose any
details of this Contract at any time to any other third party without the
agreement of the Reassured.

                                   ARTICLE 26

                              REGULATORY COMPLIANCE

If any provision of this Contract shall be rendered illegal or unenforceable by
the laws, regulations or public policy of any State in the United States, such
provision shall be considered void in such State, but this shall not affect the
validity or enforceability of any other provision of this Contract, or the
validity or enforceability of such provision in any other jurisdiction.

                                   ARTICLE 27

                                  INTERMEDIARY

Carvill America Incorporated is hereby recognized as the Intermediary
negotiating this Contract for all business hereunder. All communications
including notices, premiums, return premiums, commissions, taxes, losses, loss
adjustment expenses, salvages and loss settlements relating thereto shall be
transmitted to the Reinsurer or the Reassured through

                                       17

<PAGE>

Carvill America Incorporated at The Pinnacle, 3455 Peachtree Road, N.E., Suite
375, Atlanta Georgia 30326. Payments by the Reassured to the Intermediary will
be deemed to constitute payment to the Reinsurer. Payments by the Reinsurer to
the Intermediary will be deemed only to constitute payment to the Reassured to
the extent that such payments are actually received by the Reassured.

                                   ARTICLE 28

                                  GOVERNING LAW

This Contract shall be governed by and construed in accordance with the laws of
the State of Connecticut.

                                   ARTICLE 29

                                  PARTICIPATION

This Contract obligates each of the Reinsurers for their proportion of the
interests and liabilities set forth under this Contract, such proportions being
shown in the attached Schedules.

                                   ARTICLE 30

                            SEVERAL LIABILITY NOTICE

The subscribing Reinsurers' obligations under contracts of reinsurance to which
they subscribe are several and not joint and are limited solely to the extent of
their individual subscriptions. The subscribing Reinsurers are not responsible
for the subscription of any co-subscribing Reinsurer who for any reason does not
satisfy all or part of its obligations.

                                       18

<PAGE>

IN WITNESS WHEREOF the parties hereto have, by their duly authorized
representative, executed this Contract as follows:

Signed in Farmington, Connecticut, this ___ day of __________ 2005.

For and on behalf of the Reassured:

Signed by: /s/ Stephen J. Sills
           -------------------------------------------------
Officers Title: CEO
                --------------------------------------------
Print Name: Stephen J. Sills
            ------------------------------------------------

And for the Reinsurer(s) by means of and in accordance with the attached
Schedule(s), which shall be considered to form an integral part of this
Contract.

                                       19

<PAGE>

NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-REINSURANCE (U.S.A.)

(1)  This reinsurance does not cover any loss or liability accruing to the
     Reassured as a member of, or subscriber to, any association of insurers or
     reinsurers formed for the purpose of covering nuclear energy risks or as a
     direct or indirect reinsurer of any such member, subscriber or association.

(2)  Without in any way restricting the operation of paragraph (1) of this
     Clause it is understood and agreed that for all purposes of this
     reinsurance all the original policies of the Reassured (new, renewal and
     replacement) of the classes specified in Clause II of this paragraph (2)
     from the time specified in Clause III in this paragraph (2) shall be deemed
     to include the following provision (specified as the Limited Exclusion
     Provision).

     LIMITED EXCLUSION PROVISION:

     I.   It is agreed that the policy does not apply under any liability
          coverage, to: injury, sickness, disease, death or destruction bodily
          injury or property damage with respect to which an insured under the
          policy is also an insured under a nuclear energy liability policy
          issued by Nuclear Energy Liability Insurance Association, Mutual
          Atomic Energy Liability Underwriters or Nuclear Insurance Association
          of Canada, or would be an insured under any such policy but for its
          termination upon exhaustion of its limit of liability.

     II.  Family Automobile Policies (liability only), Special Automobile
          Policies (private passenger automobiles, liability only), Farmers
          Comprehensive Personal Liability Policies (liability only),
          Comprehensive Personal Liability Policies (liability only) or policies
          of a similar nature; and the liability portion of combination forms
          related to the four classes of policies stated above, such as the
          Comprehensive Dwelling Policy and the applicable types of Homeowners
          Policies.

     III. The inception dates and thereafter of all original policies as
          described in II above, whether new, renewal or replacement, being
          policies which either

          (a)  become effective on or after 1st May, 1960, or

          (b)  become effective before that date and contain the Limited
               Exclusion Provision set out above;

          provided this paragraph (2) shall not be applicable to Family
          Automobile Policies, Special Automobile Policies, or policies or
          combination policies of a similar nature, issued by the Reassured on
          New York risks, until 90 days following approval of the Limited
          Exclusion Provision by the Governmental Authority having jurisdiction
          thereof.

                                       20

<PAGE>

(3)  Except for those classes of policies specified in Clause II of paragraph
     (2) and without in any way restricting the operation of paragraph (1) of
     this Clause, it is understood and agreed that for all purposes of this
     reinsurance the original liability policies of the Reassured (new, renewal
     and replacement) affording the following coverages:

          Owners, Landlords and Tenants Liability, Contractual Liability,
          Elevator Liability, Owners or Contractors (including railroad)
          Protective Liability, Manufacturers and Contractors Liability, Product
          Liability, Professional and Malpractice Liability, Storekeepers
          Liability, Garage Liability, Automobile Liability (including
          Massachusetts Motor Vehicle or Garage Liability)

     shall be deemed to include, with respect to such coverages, from the time
     specified in Clause V of this paragraph (3), the following provision
     (specified as the Broad Exclusion Provision):

BROAD EXCLUSION PROVISION.*

It is agreed that the policy does not apply:

I.   Under any Liability Coverage, to injury, sickness, disease, death or
     destruction (bodily injury or property damage)

     (a)  with respect to which an insured under the policy is also an insured
          under a nuclear energy liability policy issued by Nuclear Energy
          Liability Insurance Association, Mutual Atomic Energy Liability
          Underwriters or Nuclear Insurance Association of Canada, or would be
          an insured under any such policy but for its termination upon
          exhaustion of its limit of liability;

          or

     (b)  resulting from the hazardous properties of nuclear material and with
          respect to which (1) any person or organization is required to
          maintain financial protection pursuant to the Atomic Energy Act of
          1954, or any law amendatory thereof, or (2) the insured is, or had
          this policy not been issued would be, entitled to indemnity from the
          United States of America, or any agency thereof, under any agreement
          entered into by the United States of America, or any agency thereof,
          with any person or organization.

II.  Under any Medical Payments Coverage, or under any Supplementary Payments
     Provision relating to immediate medical or surgical relief first aid, to
     expenses incurred with respect to bodily injury, sickness, disease or death
     bodily injury

                                       21

<PAGE>

     resulting from the hazardous properties of nuclear material and arising out
     of the operation of a nuclear facility by any person or organization.

III. Under any Liability Coverage, to injury, sickness, disease, death or
     destruction bodily injury or property damage resulting from the hazardous
     properties of nuclear material, if

     (a)  the nuclear material (1) is at any nuclear facility owned by, or
          operated by or on behalf of, an insured or (2) has been discharged or
          dispersed therefrom;

     (b)  the nuclear material is contained in spent fuel or waste at any time
          possessed, handled, used, processed, stored, transported or disposed
          of by or on behalf of an insured; or

     (c)  the injury, sickness, disease, death or destruction bodily injury or
          property damage arises out of the furnishing by an insured of
          services, materials, parts or equipment in connection with the
          planning, construction, maintenance, operation or use of any nuclear
          facility, but if such facility is located within the United States of
          America, its territories, or possessions or Canada, this exclusion (c)
          applies only to injury to or destruction of property at such nuclear
          facility property damage to such nuclear facility and any property
          thereat.

IV.  As used in this endorsement:

     "HAZARDOUS PROPERTIES" include, radioactive, toxic or explosive properties;
     "NUCLEAR MATERIAL" means source material, special nuclear material or
     byproduct material; "SOURCE MATERIAL", "SPECIAL NUCLEAR MATERIAL", and
     "BYPRODUCT MATERIAL" have the meanings given them in the Atomic Energy Act
     of 1954 or in any law amendatory thereof; "SPENT FUEL" means any fuel
     element or fuel component, solid or liquid, which has been used or exposed
     to radiation in a nuclear reactor; "WASTE" means any waste material (1)
     containing by product material and (2) resulting from the operation by any
     person or organization of any nuclear facility included within the
     definition of nuclear facility under paragraph (a) or (b) thereof; "NUCLEAR
     FACILITY" means

     (a)  any nuclear reactor,

     (b)  any equipment or device designed or used for (1) separating the
          isotopes of uranium or plutonium, (2) processing or utilizing spent
          fuel, or (3) handling, processing or packaging waste,

     (c)  any equipment or device used for the processing, fabricating or
          alloying of special nuclear material if at any time the total amount
          of such material in

                                       22

<PAGE>

          the custody of the insured at the premises where such equipment or
          device is located consists of or contains more than 25 grams of
          plutonium or uranium 233 or any combination thereof, or more than 250
          grams of uranium 235,

     (d)  any structure, basin, excavation, premises or place prepared or used
          for the storage or disposal of waste,

     and includes the site on which any of the foregoing is located, all
     operations conducted on such site and all premises used for such
     operations; "NUCLEAR REACTOR" means any apparatus designed or used to
     sustain nuclear fission in a self-supporting chain reaction or to contain a
     critical mass of fissionable material;

          With respect to injury to or destruction of properly, the word
          "injury" or "destruction", "property damage" includes all forms of
          radioactive contamination of property, includes all forms of
          radioactive contamination of property.

V.   The inception dates and thereafter of all original policies affording
     coverages specified in this paragraph (3), whether new, renewal or
     replacement, being policies which become effective on or after 1st May,
     1960, provided this paragraph (3) shall not be applicable to

     (i)  Garage and Automobile Policies issued by the Reassured on New York
          risks,

     or

     (ii) statutory liability insurance required under Chapter 90, General Laws
          of Massachusetts,

     until 90 days following approval of the Broad Exclusion Provision by the
     Governmental Authority having jurisdiction thereof.

(4)  Without in any way restricting the operation of paragraph (1) of this
     Clause, it is understood and agreed that paragraphs (2) and (3) above are
     not applicable to original liability policies of the Reassured in Canada
     and that with respect to such policies this Clause shall be deemed to
     include the Nuclear Energy Liability Exclusion Provisions adopted by the
     Canadian Underwriters' Association or the Independent Insurance Conference
     of Canada.

*NOTE The words printed in italics in the Limited Exclusion Provision and in the
      Broad Exclusion Provision shall apply only in relation to original
      liability policies which include a Limited Exclusion Provision or a Broad
      Exclusion Provision containing those words.

                                       23

<PAGE>

         NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-REINSURANCE-CANADA

1.   This Agreement does not cover any loss or liability accruing to the
     Reinsured as a member of, or subscriber to, any association of insurers or
     reinsurers formed for the purpose of covering nuclear energy risks or as a
     direct or indirect reinsurer of any such member, subscriber or association.

2.   Without in any way restricting the operation of paragraph I of this clause
     it is agreed that for all purposes of this Agreement all the original
     liability contracts of the Reinsured, whether new, renewal or replacement,
     of the following classes, namely,

     Personal Liability.
     Farmers' Liability.
     Storekeepers' Liability.

     which become effective on or after 31st December 1992, shall be deemed to
     include, from their inception dates and thereafter, the following
     provision:

     Limited Exclusion Provision.

     This Policy does not apply to bodily injury or property damage with respect
     to which the Insured is also insured under a contract of nuclear energy
     liability insurance (whether the Insured is unnamed in such contract and
     whether or not it is legally enforceable by the Insured) issued by the
     Nuclear Insurance Association of Canada or any other group or pool of
     insurers or would be an Insured under any such policy but for its
     termination upon exhaustion of its limits of liability.

     With respect to property, loss of such property shall be deemed to be
     property damage.

3.   Without in any way restricting the operation of paragraph I of this clause
     it is agreed that for all purposes of this Agreement all the original
     liability contracts of the Reinsured, whether new, renewal or replacement,
     of any class whatsoever (other than Personal Liability, Farmers' Liability,
     Storekeepers' Liability or Automobile Liability contracts), which become
     effective on or after 31st December 1992, shall be deemed to include from
     their inception dates and thereafter, the following provision:

     Broad Exclusion Provision.

     It is agreed that this Policy does not apply:

     (a)  to liability imposed by or arising from any nuclear liability act, law
          or statute or any law amendatory thereof; nor

                                       24

<PAGE>

     (b)  to bodily injury or property damage with respect to which an Insured
          under this policy is also insured under a contract of nuclear energy
          liability insurance (whether the Insured is unnamed in such contract
          and whether or not it is legally enforceable by the Insured) issued by
          the Nuclear Insurance Association of Canada or any other insurer or
          group or pool of insurers or would be an Insured under any such policy
          but for its termination upon exhaustion of its limit or liability; nor

     (c)  to bodily injury or property damage resulting directly or indirectly
          from the nuclear energy hazard arising from:

          (i)  the ownership, maintenance, operation or use of a nuclear
               facility by or on behalf of an Insured;

          (ii) the furnishing by an Insured of services, materials, parts or
               equipment in connection with the planning, construction,
               maintenance, operation or use of any nuclear facility; and

          (iii) the possession, consumption, use, handling, disposal or
               transportation of fissionable substances, or of other radioactive
               material (except radioactive isotopes, away from a nuclear
               facility, which have reached the final stage of fabrication so as
               to be usable for any scientific, medical, agricultural,
               commercial or industrial purpose) used, distributed, handled or
               sold by an Insured.

     As used in this Policy:

1.   The term "nuclear energy hazard" means the radioactive, toxic, explosive,
     or other hazardous properties of radioactive material;

2.   The term "radioactive material" means uranium, thorium, plutonium,
     neptunium, their respective derivatives and compounds, radioactive isotopes
     of other elements and any other substances which may be designated by or
     pursuant to any law, act or statute, or law amendatory thereof as being
     prescribed substances capable of releasing atomic energy, or as being
     requisite for the production, use of application of atomic energy;

3.   The term "nuclear facility" means:

     (a)  any apparatus designed or used to sustain nuclear fission in
          self-supporting chain reaction or to contain a critical mass of
          plutonium, thorium or uranium or any one or more of them;

     (b)  any equipment or device designed or used for (i) separating the
          isotopes of plutonium, thorium and uranium or any one or more of them,
          (ii) processing or utilizing spent fuel, or (iii) handling, processing
          or packaging waste;

                                       25

<PAGE>

     (c)  any equipment or device used for the processing, fabricating or
          alloying of plutonium, thorium or uranium enriched in the isotope
          uranium 233 or in the isotope uranium 235, or any one or more of them
          if at any time the total amount of such material in the custody of the
          Insured at the premises where such equipment or device is located
          consists of or contains more than 25 grams of plutonium or uranium 233
          or any combination thereof, or more than 250 grams of uranium 235;

     (d)  any structure, basin, excavation, premises or place prepared or used
          for the storage or disposal of waste radioactive material;

     and includes the site on which any of the foregoing is located, together
     with all operations conducted thereon and all premises used for such
     operations.

4.   The term "fissionable substance" means any prescribed substance that is, or
     from which can be obtained, a substance capable of releasing atomic energy
     by nuclear fission.

5.   With respect to property, loss of use of such property shall be deemed to
     be property damage.

                                       26

<PAGE>

           NUCLEAR ENERGY RISKS EXCLUSION CLAUSE (REINSURANCE) (1994)

                      (WORLDWIDE EXCLUDING U.S.A. & CANADA)

This agreement shall exclude Nuclear Energy Risks whether such risks are written
directly and/or by way of reinsurance and/or via Pools and/or Associations.

For all purposes of this agreement Nuclear Energy Risks shall mean all first
party and/or third party insurances or reinsurances (other than Workers'
Compensation and Employers' Liability) in respect of:-

(I)  All Property on the site of a nuclear power station. Nuclear Reactors,
     reactor buildings and plant and equipment therein on any site other than a
     nuclear power station.

(II) All Property, on any site (including but not limited to the sites referred
     to in (I) above) used or having been used for:-

     a)   The generation of nuclear energy; or

     b)   The Production, Use or Storage of Nuclear Material.

(III) Any other Property eligible for insurance by the relevant local Nuclear
     Insurance Pool and/or Association but only to the extent of the
     requirements of that local Pool and/or Association.

(IV) The supply of goods and services to any of the sites, described in (I) to
     (III) above, unless such insurances or reinsurances shall exclude the
     perils of irradiation and contamination by Nuclear Material.

Except as undernoted, Nuclear Energy Risks shall not include:-

(i)  Any insurance or reinsurance in respect of the construction or erection or
     installation or replacement or repair or maintenance or decommissioning of
     Property as described in (I) to (III) above (including contractors' plant
     and equipment);

(ii) Any Machinery Breakdown or other Engineering insurance or reinsurance not
     coming within the scope of (I) above;

Provided always that such insurance or reinsurance shall exclude the perils of
irradiation and contamination by Nuclear Material.

However, the above exemption shall not extend to:-

(1)  The provision of any insurance or reinsurance whatsoever in respect of:

     (a)  Nuclear Material;

                                       27

<PAGE>

     (b)  Any Property in the High Radioactivity Zone or Area of any Nuclear
          Installation as from the introduction of Nuclear Material or - for
          reactor installations - as from fuel loading or first criticality
          where so agreed with the relevant local Nuclear Insurance Pool and/or
          Association.

(2)  The provision of any insurance or reinsurance for the undernoted perils:-

     -    Fire, lightning, explosion;

     -    Earthquake;

     -    Aircraft and other aerial devices or articles dropped therefrom;

     -    Irradiation and radioactive contamination;

     -    Any other peril insured by the relevant local Nuclear Insurance Pool
          and/or Association;

     in respect of any other Property not specified in (1) above which directly
     involves the Production, Use or Storage of Nuclear Material as from the
     introduction of Nuclear Material into such Property.

Definitions

"Nuclear Material" means:-

(i)  Nuclear fuel, other than natural uranium and depleted uranium, capable of
     producing energy by a self-sustaining chain process of nuclear fission
     outside a Nuclear Reactor, either alone or in combination with some other
     material; and

(ii) Radioactive Products or Waste.

"Radioactive Products or Waste" means any radioactive material produced in, or
any material made radioactive by exposure to the radiation incidental to the
production or utilization of nuclear fuel, but does not include radioisotopes
which have reached the final stage of fabrication so as to be usable for any
scientific, medical, agricultural, commercial or industrial purpose.

"Nuclear Installation" means:-

(i)  Any Nuclear Reactor;

(ii) Any factory using nuclear fuel for the production of Nuclear Material, or
     any factory for the processing of Nuclear Material, including any factory
     for the reprocessing of irradiated nuclear fuel; and

(iii) Any facility where Nuclear Material is stored, other than storage
     incidental to the carriage of such material.

                                       28

<PAGE>

"Nuclear Reactor" means any structure containing nuclear fuel in such an
arrangement that a self-sustaining chain process of nuclear fission can occur
therein without an additional source of neutrons.

"Production, Use or Storage of Nuclear Material" means the production,
manufacture, enrichment, conditioning, processing, reprocessing, use, storage,
handling and disposal of Nuclear Material.

"Property" shall mean all land, buildings, structures, plant, equipment,
vehicles, contents (including but not limited to liquids and gases) and all
materials of whatever description whether fixed or not.

"High Radioactivity Zone or Area" means:-

(i)  For nuclear power stations and Nuclear Reactors, the vessel or structure
     which immediately contains the core (including its supports and shrouding)
     and all the contents thereof, the fuel elements, the control rods and the
     irradiated fuel store; and

(ii) For non-reactor Nuclear Installations, any area where the level of
     radioactivity requires the provision of a biological shield.

                                       29

<PAGE>

                                 ADDENDUM NO. 1

                      ATTACHING TO AND FORMING PART OF THE

                       EXCESS CESSION REINSURANCE CONTRACT

                          COMMENCING SEPTEMBER 1, 2005

                                  MADE BETWEEN

       DARWIN NATIONAL ASSURANCE COMPANY, DARWIN SELECT INSURANCE COMPANY,
    CAPITOL INDEMNITY CORPORATION, CAPITOL SPECIALTY INSURANCE CORPORATION,
          PLATTE RIVER INSURANCE COMPANY AND/OR ANY OTHER ASSOCIATED,
     AFFILIATED OR SUBSIDIARY COMPANIES OF ALLEGHANY INSURANCE HOLDING LLC,
                BUT ONLY IN RESPECT OF BUSINESS UNDERWRITTEN BY
                     DARWIN PROFESSIONAL UNDERWRITERS, INC.

                                       AND

                         THE REINSURERS SIGNATORY HERETO

It is hereby noted and agreed that with effect from September 1st, 2005 12:01
a.m. Standard Time, the following amendment is made to this Contract:

Article 24, SERVICE OF SUIT, is deleted in its entirety and replaced with the
following:

SERVICE OF SUIT

(This Article only applies to Reinsurers domiciled outside of the United States
and/or unauthorized in any state, territory, or district of the United States
having jurisdiction over the Reinsured.)

It is agreed that in the event of the failure of the Reinsurer hereon to pay any
amount claimed to be due hereunder, the Reinsurer hereon, at the request of the
Reinsured, will submit to the jurisdiction of a Court of competent jurisdiction
within the United States. Nothing in this Article constitutes or should be
understood to constitute a waiver of the Reinsurer's rights to commence an
action in any Court of competent jurisdiction in the United States, to remove an
action to a United States District Court, or to seek a transfer of a case to
another Court as permitted by the laws of the United States or of any State in
the United States. It is further agreed that service of process in such suit may
be made upon Mendes & Mount, 750 Seventh Avenue, New York, New York 10019-6829,
and that in any suit instituted, the Reinsurer will abide by the final decision
of such Court or of any Appellate Court in the event of an appeal.

The above-named are authorized and directed to accept service of process on
behalf of the Reinsurer in any such suit and/or upon the request of the
Reinsured to give a written

                                       30

<PAGE>

undertaking to the Reinsured that they will enter a general appearance upon the
Reinsurer's behalf in the event such a suit shall be instituted.

Further, pursuant to any statute of any state, territory or district of the
United States which makes provision therefore, the Reinsurer hereon hereby
designates the Superintendent, Commissioner or Director of Insurance or other
officer specified for that purpose in the statute, or his successor or
successors in office, as its true and lawful attorney upon whom may be served
any lawful process in any action, suit or proceeding instituted by or on behalf
of the Reinsured or any beneficiary hereunder arising out of this Contract of
reinsurance, and hereby designates the above-named as the person to whom the
said officer is authorized to mail such process or a true copy thereof.

                 ALL OTHER TERMS AND CONDITIONS REMAIN UNALTERED

IN WITNESS WHEREOF the parties hereto have, by their duly authorized
representative, executed this Addendum No. 1 as follows:

Signed in Farmington, Connecticut this 19th day of January 2006.

For and on behalf of the Reinsured:

Signed by: /s/ Stephen J. Sills
           -------------------------------------------------
                               Name/Title

And for the Reinsurers by means of and in accordance with the attached
Schedules, which shall be considered to firm an integral part of this Addendum
No. 1 and the Agreement to which it relates.

                                       31

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