Document:

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                                                                   Exhibit 10.26

                                                           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 OF LOSS REINSURANCE CONTRACT

BETWEEN                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, 2004

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

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                                    CONTENTS

<TABLE>
<CAPTION>
PREAMBLE   IDENTITY OF PARTIES
--------   -------------------
<S>        <C>                                                                <C>
ARTICLE  1 BUSINESS REINSURED ..............................................   1
ARTICLE  2 EXCLUSIONS ......................................................   1
ARTICLE  3 COVER, LIMIT AND RETENTION ......................................   2
ARTICLE  4 TERRITORIAL SCOPE ...............................................   3
ARTICLE  5 PERIOD ..........................................................   3
ARTICLE  6 SPECIAL TERMINATION .............................................   4
ARTICLE  7 ULTIMATE NET LOSS ...............................................   5
ARTICLE  8 LOSS RATIO CAP ..................................................   6
ARTICLE  9 EXCESS OF ORIGINAL POLICY LIMITS ................................   6
ARTICLE 10 EXTRA-CONTRACTUAL OBLIGATIONS ..................................    7
ARTICLE 11 NET RETAINED LINES .............................................    8
ARTICLE 12 PREMIUM ........................................................    8
ARTICLE 13 PREMIUM LIMITATION .............................................    9
ARTICLE 14 NOTICE OF LOSS AND LOSS SETTLEMENTS ............................    9
ARTICLE 15 INTEREST PENALTY ...............................................   11
ARTICLE 16 LOSS AND UNEARNED PREMIUM RESERVES .............................   12
ARTICLE 17 COMMUTATION ....................................................   14
ARTICLE 18 CURRENCY .......................................................   14
ARTICLE 19 TAX PROVISIONS .................................................   15
ARTICLE 20 INSOLVENCY OF THE REASSURED ....................................   15
ARTICLE 21 OFFSET .........................................................   16
ARTICLE 22 DELAYS, ERRORS AND OMISSIONS ...................................   16
ARTICLE 23 AMENDMENTS AND ALTERATIONS .....................................   16
</TABLE>

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<TABLE>
<S>        <C>                                                                <C>
ARTICLE 24 ACCESS TO RECORDS AND CLAIMS REVIEW ............................   17
ARTICLE 25 ARBITRATION ....................................................   17
ARTICLE 26 SERVICE OF SUIT ................................................   18
ARTICLE 27 CONFIDENTIALITY ................................................   19
ARTICLE 28 REGULATORY COMPLIANCE ..........................................   19
ARTICLE 29 INTERMEDIARY ...................................................   20
ARTICLE 30 GOVERNING LAW ..................................................   20
ARTICLE 31 PARTICIPATION ..................................................   20
ARTICLE 32 SEVERAL LIABILITY NOTICE .......................................   20
</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

3.   APPENDIX A LOSS BORDEREAU FORMAT

                                       ii

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                       EXCESS OF LOSS REINSURANCE CONTRACT

PREAMBLE

This Contract is made and entered into between Capitol Indemnity Corporation,
Capital 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
Healthcare Facility Primary Professional Liability, Healthcare Facility Primary
General Liability, including Employee Benefits and other ancillary liability
coverages, Physician Group Primary Professional Liability, Physician Group
Primary General Liability, and other ancillary liability coverages, Follow Form
Excess Liability and Umbrella Liability as original.

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.

Where the Reassured issues a group policy to multiple insureds providing
separate and distinct limits to each insured, then for the purposes of recovery
hereunder each separate and distinct limit shall be deemed to be a separate
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.

                                   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.

<PAGE>

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 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 reinsurance of a captive insurance
     company, policies "fronted" by another carrier and individually
     underwritten by Darwin Professional Underwriters, Inc, and Inter-Company
     Pooling Arrangements.

                                   ARTICLE 3

                           COVER, LIMIT AND RETENTION

Section A:

In respect of Healthcare Facility Primary Professional Liability, Healthcare
Facility Primary General Liability, including Employee Benefits and other
ancillary liability coverages, Follow Form Excess Liability and Umbrella
Liability, the Reinsurers shall be liable under this Contract for the
Reassured's Ultimate Net Loss in excess of $1,000,000 each and every loss, each
Insured, each policy/program, subject to a limit of liability to the Reinsurers
of up to $1,000,000 Ultimate Net Loss each and every loss, each insured, each
policy/program.

Section B:

In respect of Physician Group Primary Professional Liability, Physician Group
Primary General Liability and other ancillary liability coverages and Follow
Form Excess Liability, the Reinsurers shall be liable under this Contract for
the Reassured's Ultimate Net Loss in excess of $500,000 each and every loss,
each Insured, each policy/program, subject to a limit of liability to the
Reinsurers of up to $1,500,000 Ultimate Net Loss each and every loss, each
insured, each policy/program.

                                        2

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Section C:

In respect business covered under Sections A, B and/or Sections A and B being
involved in the same loss occurrence, the Reinsurers shall be liable under this
Contract for the Reassured's Ultimate Net Loss in excess of $1,000,000 each and
every loss occurrence subject to a limit of liability to the Reinsurers of up to
$2,000,000 Ultimate Net Loss each and every loss occurrence. Recoveries under
Sections A and/or B inure to the benefit of Section C.

Sections A, B and C

The Reassured shall retain the aforementioned retention(s) net and unreinsured,
except for internal reinsurance and/or Catastrophe Excess of Loss Reinsurance.

Reinsurers hereon agree 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 cost inclusive basis, costs shall be included within the Ultimate
Net Loss hereon. Where coverage is issued on a cost in addition basis, pro rata
costs shall be payable in addition to the limits hereon, Sections A and/or B
and/or C combined.

It is understood and agreed that the limits 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 the original policies.

The meaning of "each and every loss", "claim", "claim made" and "losses
occurring" 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 "loss occurrence", "each Insured", "each coverage", "each
section" and "each policy".

                                   ARTICLE 4

                                TERRITORIAL SCOPE

This Contract shall cover wherever the original policies cover.

                                   ARTICLE 5

                                     PERIOD

This Contract covers all claims made or losses occurring, as original, on
original policies issued or renewed during the period January 1st, 2004 12:01
a.m. Standard Time to April 1st, 2005 12:01 a.m. Standard Time at the place and
location of risks insured.

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.
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

                                        3

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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 occurring, as original, after the effective time and date of expiration
hereof and, in such event, the unearned premium at that date applicable to in
force policies, including extensions, discovery periods or other similar
extended reporting endorsements attached thereto, shall be deducted from the
Subject Gross Net Written Premium Income for the purpose of the premium rating
hereunder.

                                   ARTICLE 6

                               SPECIAL TERMINATION

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 September 30th, 2003.

B.   The Reinsured 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 Reinsured'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-.

                                        4

<PAGE>

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
Subject 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 occurring, 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 deducted from the Subject Gross Net Written Premium
Income for the purpose of the premium rating hereunder.

The Reassured shall have the right at the time of termination of this Contract
or at any time following the termination of the Reinsurer, provided the rate at
that time is strictly below the Maximum hereon, to commute losses at their
discretionary reserves, which for clarification purposes may be zero. The
Reassured will then give Reinsurers a full and final release of all future
liabilities under this Contract. It is understood and agreed that 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 deducted from the Subject Gross Net
Written Premium Income for the purpose of the premium rating hereunder.

                                   ARTICLE 7

                                ULTIMATE NET LOSS

The term "Ultimate Net Loss" as used in this Contract shall mean the sum
actually paid or payable by the Reassured in settlement of any losses under its
original policies. In the event that the Reassured's original policies and/or
specific coverage parts of their original policies are issued on a cost
inclusive basis, such loss adjustment expenses shall be included within the
Reassured's Ultimate Net Loss for the purposes of recovery hereunder.

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, provided that 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 rata 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

                                        5

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and date of the original verdict or judgment shall be pro-rated in proportion to
each party's interest in such verdict or judgment.

In the event of external legal or external adjustment expenses, including
outside monitoring counsel expenses, rescission expenses and declaratory
judgment 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 original policy, then Reinsurers shall also be liable for their
proportion of such expenses in addition to their share of the 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 and recoveries shall first be deducted from such loss to arrive at
the amount of the Reassured's Ultimate Net Loss for the purposes of this
Contract. All salvages, recoveries or payments recovered or received subsequent
to a loss settlement under this Contract shall be applied as if recovered or
received prior to the aforesaid settlement and all necessary adjustments shall
be made by the parties hereto. However, nothing in the foregoing shall be
construed as meaning that losses are not recoverable hereunder until the
Reassured's Ultimate Net Loss has been ascertained.

                                   ARTICLE 8

                                 LOSS RATIO CAP

Notwithstanding any other provision of this Contract, the maximum recoverable
hereon shall not exceed the greater of $30,000,000 or 300% of the final adjusted
reinsurance premium.

                                   ARTICLE 9

                        EXCESS OF ORIGINAL POLICY LIMITS

Sections A and B, as applicable

This Contract shall protect the Reassured in respect of 90% of any additional
liability incurred by the Reassured as the result of an award in excess of the
original policy limit as more fully defined below. Such excess of original
policy limits coverage shall be up to an additional limit of this Contract and
in addition to any contractual loss recovered hereunder. The maximum additional
recoverable in respect of specific excess of original policy limits and extra
contractual obligations coverage shall be $1,000,000 any one claim for Section A
or $1,500,000 any one claim for Section B. The Reinsurers agree that the said
90% of the additional liability so incurred, plus the Reassured's contractual
loss, shall be considered as one combined loss for the purposes of the
Reassured's retention.

                                        6

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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

Sections A and B, as applicable

This Contract shall protect the Reassured in respect of 90% of any additional
liability incurred by the Reassured as the result of an award in respect of any
extra-contractual obligation, as more fully defined below. Such extra
contractual obligations coverage shall be up to an additional limit of this
Contract and in addition to any contractual loss recovered hereunder. The
maximum additional recoverable in respect of specific extra contractual
obligations and excess of original policy limits coverage shall be $1,000,000
any one claim for Section A or $1,500,000 any one claim for Section B. The
Reinsurers agree that the said 90% of the additional liability so incurred, plus
the Reassured's contractual loss, shall be considered as one combined loss for
the purposes of the Reassured's retention.

"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.

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

                                        7

<PAGE>

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

                               NET RETAINED LINES

This Contract applies only to that portion of any insurance covered by this
Contract which the Reassured retains net for its own account and in calculating
the amount of any loss hereunder and also in computing the amount in excess of
which this Contract attaches, only loss or losses in respect of that portion of
any insurance which the Reassured retains net for its own account shall be
included.

It is understood and agreed that the amount of the Reinsurers' liability
hereunder in respect of any loss or losses shall not be increased by reason of
the inability of the Reassured to collect from any other reinsurers, whether
specific or general, any amounts which may have become due from them, whether
such inability arises from the insolvency of such other reinsurers or otherwise.

                                   ARTICLE 12

                                     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
share of the following premium:

A.   Provisional Premium of $5,520,000 payable in six equal installments of
     $920,000 in arrears due on January 1, 2004, April 1, 2004, July 1, 2004,
     October 1, 2004, January 1, 2005 and April 1, 2005.

B.   Within 60 days of expiry of this Contract, the Reassured shall render a
     statement of its Subject Gross Net Written Premium Income (as defined
     below) and the Reassured shall pay, or be paid by Reinsurers, the
     difference between the Provisional Premium and a premium determined by
     applying a provisional rate of 28.0% to the said Subject Gross Net Written
     Premium Income.

C.   Twelve months after the expiry of this Contract and annually thereafter
     until all losses are finally settled or commuted, the premium hereunder
     shall be adjusted at a rate equivalent to 107.5% of the Case Incurred Loss
     Cost plus a minimum rate of 11.0% applied to the Subject Gross Net Written
     Premium Income. In no event, however, shall the premium developed exceed a
     maximum rate equal to 45.0% of the Subject Gross Net Written Premium Income
     (hereinafter "experience adjustment").

                                        8

<PAGE>

D.   Notwithstanding the foregoing, it is agreed that the first downward
     experience adjustment of premium shall not be made until 36 months after
     the expiry of this Contract.

E.   In the event that Reinsurers are placed in a negative cash position
     (Premiums paid by the Reassured less paid losses) prior to March 31, 2008,
     the Reassured shall produce an experience adjustment account as set out in
     C. above and shall settle funds due within 60 days of such account.

F.   For the purposes of this Contract, the Reassured's Subject Gross Net
     Written Premium Income shall be defined as the written premium charged by
     the Reassured in respect of the first $2,000,000 of original per claim
     policy or program limits (or so deemed) for business covered hereunder,
     less cancellations, return premiums, and premiums paid for inuring
     reinsurance.

G.   For the purpose of this Contract, Case Incurred Loss Cost means the paid
     and outstanding indemnity, defense and allocated loss adjustment expenses
     recovered or recoverable hereunder on losses applicable to this Contract.

                                   ARTICLE 13

                               PREMIUM LIMITATION

The maximum Original Gross Net Written Premium Income accepted by the Reassured
for classes of business subject to this Contract shall not exceed $43,000,000 in
all for the Contract Period. In the event the Reassured determines that the
applicable Premium Limitation may be exceeded, then the Reassured shall advise
Reinsurers and Reinsurers shall individually have the option to increase the
Premium Limitation specific to their participation in this Contract. Should any
individual Reinsurer decline the option to increase the Premium Limitation, the
Reassured shall retain net the declining Reinsurer's share of all business
exceeding the Premium Limitation specified at the outset of this Contract.

                                   ARTICLE 14

                       NOTICE OF LOSS AND LOSS SETTLEMENTS

Paid and outstanding loss bordereaux for all claims with incurred amounts
(indemnity, defense and expense combined), established by the Reassured of
$500,000 or more for Section A and $250,000 or more for Section B to be rendered
by the Reassured within 45 days of the end of each calendar quarter, being
within 45 days of March 31st, 2004 and quarterly thereafter.

Notwithstanding the foregoing in the event that the Reassured's original policy
attaches at $10,000,000 or lower, the Reassured will report on the loss
bordereaux, irrespective of reserves, the following:

A.   Any claim which involves the following circumstances or injuries;

                                        9

<PAGE>

     i.   Unanticipated neurological, sensory and/or systemic deficits such as
          brain damage, permanent paralysis, partial or complete loss of sight
          or hearing;

     ii.  Birth related injuries where mother or infant stiffer permanent
          damage;

     iii. Anesthesia related injuries resulting in permanent damage;

     iv.  Injuries which limit activities of daily living such as amputation or
          loss of sight;

     v.   Unanticipated death, i.e. not foreseen as an expected natural
          consequence of the medical situation

     vi.  Cardiac/respiratory arrest requiring cardiopulmonary resuscitation.

     vii. Radiology claims

     viii. Formal accreditation / standards review.

B.   Any class action

C.   Any claim by a governmental or regulatory body which seeks direct monetary
     relief or sanction

It is understood and agreed, both by the Reassured and Reinsurers, that all paid
and outstanding losses shall be advised to Reinsurers solely by quarterly
bordereaux and that no individual loss reports are to be provided unless
specifically requested by Reinsurers.

The bordereaux shall comprise numerical details of the paid and outstanding
amounts of each loss together with other data to identify the claim, all as
shown on the example bordereaux format(s) attached hereto as Appendix A to this
Contract and which have been mutually agreed by the Reassured and Reinsurers. It
is clearly understood and agreed that such bordereaux shall not provide any
other details of the claim and that there shall be no requirement to provide
assessment of potential liability or other evaluations of each claim.

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.

Reinsurers agree to settle their share of such loss payments within 45 days of
receipt of the quarterly bordereaux; the bordereaux being the sole billing
documentation necessary to effect settlements from Reinsurers.

Requests for individual loss reports by Reinsurers hereon shall not delay their
payment of a claim once billing of the claim has been presented by the Reassured
to Reinsurers. In

                                       10

<PAGE>

addition, responses to requests for individual loss reports shall not be delayed
or withheld by the Reassured.

Notwithstanding such quarterly bordereaux settlements, the Reassured may request
an immediate cash loss settlement from Reinsurers in the event that the amount
due from Reinsurers in respect of an individual claim is $1,000,000 or more.
Such cash loss billings shall be made solely utilizing the same format as the
quarterly bordereaux collections.

                                   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 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.

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<PAGE>

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 $100 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 loss 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
coining 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.

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.

Reserves for IBNR shall be equal to the lesser of the actual amount of IBNR
carried on the books of the Reassured for statutory reporting purposes or 45% of
Subject Gross Net Earned Premium Income less known and reported losses hereon.
In the event that the Provisional Premium adjustment and/or experience
adjustment calculation hereon results in a reduced level of collateral funding
hereunder, the Reassured agrees to return such excess collateral to Reinsurers
within 90 days of the date the adjustment is made.

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.

                                       12

<PAGE>

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 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
     sub-paragraphs 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 nonrenewal 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.

                                       13

<PAGE>

All Letters of Credit procured for the Reassured tinder 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

                                   COMMUTATION

One year after the expiry of this Contract, but within six years following the
expiry of this Contract, provided the rate at that time is strictly below the
Maximum hereon, the Reassured have the right to commute losses at their
discretionary reserves, which for clarification purposes may be zero. The
Reassured will then give Reinsurers a full and final release of all future
liabilities under this Contract.

Notwithstanding the foregoing, Reassured to have the right six years after the
expiry of this Contract, or at anytime thereafter, provided the rate at that
time is strictly below the Maximum hereon, to commute losses at reserves to be
mutually agreed by the Reassured and Reinsurers. The Reassured will then give
Reinsurers a full and final release of all future liabilities under this
Contract.

                                   ARTICLE 18

                                    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.

                                       14

<PAGE>

                                   ARTICLE 19

                                 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 20

                           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

                                       15

<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 21

                                     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 tinder this Contract only. The terms of this Article shall apply
separately to this Contract and to each successive renewal of this Contract.

                                   ARTICLE 22

                          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 23

                           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.

                                       16

<PAGE>

                                   ARTICLE 24

                       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 25

                                   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.

                                       17

<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.

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

                                   ARTICLE 26

                                 SERVICE OF SUIT

This Article applies only to those Reinsurers signatory hereto who are domiciled
outside the United States of America or, should the Reassured be authorized to
do business in the State of New York, those Reinsurers who are unauthorized in
New York as respects suits instituted in New York.

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

                                       18

<PAGE>

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 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 27

                                 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 28

                              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.

                                       19

<PAGE>

                                   ARTICLE 29

                                  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.

                                   ARTICLE 30

                                  GOVERNING LAW

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

                                   ARTICLE 31

                                  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 32

                            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.

                                       20

<PAGE>

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

Signed in Farmington, Connecticut, this 1st day of June 2004.

For and on behalf of the Reassured:

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

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

                                       21

<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 tinder any liability
          coverage, to: injury, sickness, disease, death or destruction bodily
          injury or property damage with respect to which an insured tinder 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.

                                       22

<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

                                       23

<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

                                       24

<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 property, 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.

                                       25

<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 tinder 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 tinder 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

                                       26

<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;

                                       27

<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.

                                       28

<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;

                                       29

<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 selfsustaining 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.

                                       30

<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.

                                       31

<PAGE>

                                 ADDENDUM NO. 1

                      ATTACHING TO AND FORMING PART OF THE

                       EXCESS OF LOSS REINSURANCE CONTRACT

                                  MADE BETWEEN

                         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

                           REINSURERS SIGNATORY HERETO

                           COMMENCING JANUARY 1, 2004

                      U.S. CLASSIFICATION: U.S. REINSURANCE

With effect from January 1, 2004, the following amendment is made to this
Contract:

The first paragraph of Article 5 - PERIOD, is deleted in its entirety and
replaced by the following:

This Contract covers all claims made or losses occurring, as original, on
original policies issued or renewed during the period October 1st, 2003 12:01
a.m. Standard Time to April 1st, 2005 12:01 a.m. Standard Time at the place and
location of risks insured.

                ALT. OTHER TERMS AND CONDITIONS REMAIN UNALTERED

                                       32

<PAGE>

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

Signed in Farmington, Connecticut, this __________ day _______________ 2004

For and on behalf of the Reassured:

Signed by:
           ------------------------------

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

                                       33

<PAGE>

                                 ADDENDUM NO. 2

                      ATTACHING TO AND FORMING PART OF THE

                       EXCESS OF LOSS REINSURANCE CONTRACT

                                  MADE BETWEEN

                         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

                           REINSURERS SIGNATORY HERETO

                           COMMENCING OCTOBER 1, 2003
                     (ORIGINALLY EFFECTIVE JANUARY 1, 2004)

                      U.S. CLASSIFICATION: U.S. REINSURANCE

With effect from October 1, 2003, the following amendments are made to this
Contract:

     1    Article 13 - PREMIUM LIMITATION is deleted in its entirety and
          replaced by the following:

          The maximum Original Gross Net Written Premium Income accepted by the
          Reassured for classes of business subject to this Contract shall not
          exceed $60,000,000 in all for the Contract Period. In the event the
          Reassured determines that the applicable Premium Limitation may be
          exceeded, then the Reassured shall advise Reinsurers and Reinsurers
          shall individually have the option to increase the Premium Limitation
          specific to their participation in this Contract. Should any
          individual Reinsurer decline the option to increase the Premium
          Limitation, the Reassured shall retain net the declining Reinsurer's
          share of all business exceeding the Premium Limitation specified at
          the outset of this Contract.

     ALL OTHER TERMS AND CONDITIONS REMAIN UNALTERED

                                       34

<PAGE>

IN WITNESS WHEREOF the parties hereto have, by their duty authorized
representative, executed this Addendum No. 2 as follows:

Signed in Farmington, Connecticut, this 21st day February 2004

For and on behalf of the Reassured:

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

And for the Reinsurers by means of and in accordance with the attached
Schedules, which shall be considered to form an integral part of this Addendum
No. 2 and the Contract to which it relates.

                                       35

<PAGE>

                                 ADDENDUM NO. 3

                      ATTACHING TO AND FORMING PART OF THE

                       EXCESS OF LOSS REINSURANCE CONTRACT

                                  MADE BETWEEN

                         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

                           REINSURERS SIGNATORY HERETO

                           COMMENCING OCTOBER 1, 2003
                     (ORIGINALLY EFFECTIVE JANUARY 1, 2004)

                      U.S. CLASSIFICATION: U.S. REINSURANCE

With effect from October 1, 2003, the following amendments are made to this
Contract:

1.   Article I - BUSINESS REINSURED the first paragraph is deleted and replaced
     with the following:

     This Contract applies to policies of insurance classified by the Reassured
     as Healthcare Facility Primary Professional Liability, Healthcare Facility
     Primary General Liability, including Employee Benefits and other ancillary
     liability coverages, Physician and Physician Group Primary Professional
     Liability, Physician Group Primary General Liability, and other ancillary
     liability coverages, Follow Form Excess Liability and Umbrella Liability as
     original.

2.   Article 3 - COVER, LIMIT AND RETENTION the second paragraph, Section B, is
     deleted and replaced with the following:

     Section B:

     In respect of Physician and Physician Group Primary Professional Liability,
     Physician Group Primary General Liability and other ancillary liability
     coverages and Follow Form Excess Liability, the Reinsurers shall be liable
     under this Contract for the Reassured's Ultimate Net Loss in excess of
     $500,000 each and

                                       36

<PAGE>

     every loss, each Insured, each policy/program, subject to a limit of
     liability to the Reinsurers of up to $1,500,000 Ultimate Net Loss each and
     every loss, each insured, each policy/program.

     ALL OTHER TERMS AND CONDITIONS REMAIN UNALTERED

                                       37

<PAGE>

IN WITNESS WHEREOF the parties hereto have, by their duty authorized
representative, executed this Addendum No. 3 as follows:

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

For and on behalf of the Reassured:

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

And for the Reinsurers by means of and in accordance with the attached
Schedules, which shall be considered to form an integral part of this Addendum
No. 3 and the Contract to which it relates.

                                       38<PAGE>
                                                                   Exhibit 10.27

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
         And any other associated affiliated or subsidiary companies of
                       ALLEGHANY INSURANCE HOLDINGS, LTD.

                                    DELAWARE

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                              QUOTA SHARE CONTRACT

              EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME

                                      INDEX

<TABLE>
<CAPTION>
ARTICLE    SUBJECT                                                          PAGE
-------    -------                                                          ----
<S>        <C>                                                              <C>
ARTICLE 1  BUSINESS COVERED..............................................     3
ARTICLE 2  COMMENCEMENT AND TERMINATION..................................     3
ARTICLE 3  SPECIAL TERMINATION...........................................     4
ARTICLE 4  TERRITORY.....................................................     5
ARTICLE 5  QUOTA SHARE PARTICIPATION.....................................     5
ARTICLE 6  ORIGINAL CONDITIONS...........................................     6
ARTICLE 7  EXCLUSIONS....................................................     7
ARTICLE 8  PREMIUM AND COMMISSION........................................     8
ARTICLE 9  DEFINITION....................................................     8
ARTICLE 10 LOSS IN EXCESS OF POLICY LIMITS AND EXTRA
              CONTRACTUAL OBLIGATIONS....................................    10
ARTICLE 11 REPORTS AND REMITTANCES.......................................    10
ARTICLE 12 ERRORS AND OMISSIONS (BRMA 14A)...............................    11
ARTICLE 13 CURRENCY (BRMA 12A)...........................................    11
ARTICLE 14 TAXES (BRMA 50A)..............................................    11
ARTICLE 15 FEDERAL EXCISE TAX (BRMA 17A).................................    11
ARTICLE 16 OFFSET (BRMA 36C).............................................    11
</TABLE>

<PAGE>

<TABLE>
<S>        <C>                                                              <C>
ARTICLE 17 ACCESS TO RECORDS CLAUSE (BRMA 1A)............................    12
ARTICLE 18 RESERVES......................................................    12
ARTICLE 19 SERVICE OF SUIT...............................................    13
ARTICLE 20 ARBITRATION CLAUSE (BRMA 6A)..................................    14
ARTICLE 21 INSOLVENCY CLAUSE (BRMA 19C)..................................    15
ARTICLE 22 INTERMEDIARY CLAUSE (BRMA 23A)................................    16
</TABLE>

ATTACHMENTS: NUCLEAR INCIDENT EXCLUSION CLAUSE-LIABILITY-REINSURANCE U.S.A. AND
             CANADA WAR EXCLUSION

<PAGE>

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                              QUOTA SHARE CONTRACT

              EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME

                                    issued to

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
         And any other associated affiliated or subsidiary companies of
                       ALLEGHANY INSURANCE HOLDINGS, LTD.

                                    DELAWARE

ARTICLE 1 -- BUSINESS COVERED

     The Reinsurers agree to indemnify the Reassured for Losses under Policies
classified by the Reassured as Psychiatrists Professional and Office Liability
produced and underwritten by American Professional Agency, Inc. for and on
behalf of Darwin Professional Underwriters, arising from any claim or claims
which are made on risks that attach during the Contract period under its claims
made, extended reporting endorsement and retroactive coverage.

ARTICLE 2 -- COMMENCEMENT AND TERMINATION

A. This contract shall cover claims made, as original, on original policies
issued or renewed during the period October 1, 2004, 12:01 a.m., Standard Time
to October 1, 2005, 12:01 Standard Time at the place and location of risks
insured.

B. 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.

C. For the purpose of this Contract, any extension 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.

D. 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, as
original, after the effective time and date of expiration hereof and, in such
event, the unearned premium at that date applicable to inforce policies,
including extensions, discovery periods or other similar extended reporting
endorsements attached thereto, shall be deducted from the Subject Gross Net

                                       3

<PAGE>

Written Premium Income for the purpose of the premium rating hereunder.
Notification by the Reassured to the Reinsurers must be within 30 days after the
expiration of this contract.

ARTICLE 3 - SPECIAL TERMINATION

A. The Reassured may terminate or commute this Contract upon the happening of
any one of the following circumstances at any time by the giving of ten (10)
days prior written notice to the Reinsurer:

     1.   The Reinsurer ceases underwriting operations;

     2.   A State Insurance Department or other legal authority orders the
          Reinsurer to cease writing business, or

     3.   The Reinsurer has become insolvent or has been placed under
          supervision (voluntarily or involuntarily), into liquidation or
          receivership, or there has been instituted against it proceedings for
          the appointment of a supervisor, receiver, liquidator, rehabilitator,
          conservator or trustee in bankruptcy, or other agent known by whatever
          name, to take possession of its assets or control of its operations,
          or

     4.   The Reinsurer's policyholders' surplus has been reduced by whichever
          is greater, (a) 20% of the amount of surplus at the inception of this
          Contract or (b) 20% of the amount stated in its last filed annual
          statutory statement with its state of domicile; or

     5.   The Reinsurer has become merged with, acquired or controlled by any
          company, corporation or individual(s) not controlling the party's
          operations previously, or

     6.   The Reinsurer has been assigned an AM Best's rating of less than A-1
          (N.B. as respects alien Reinsurers, a Standard & Poor's Insurance
          Rating of less than "BBB" will apply; as respect Lloyd's Syndicates, a
          reduction of the Reinsurer's S&P Lloyd's Syndicate Assessment (LSA)
          ranking from the LSA ranking that was in effect at the inception of
          October 1, 2004 of the contract will apply); or

     7.   The Reinsurer has or has attempted to transfer its entire liability
          under this Contract without the Reassured's prior written consent.

     8.   There is a severance or obstruction of free and unfettered
          communication and/or normal commercial or financial intercourse
          between the United States of America and the country in which the
          Reinsurer is incorporated or has its principal office as a result of
          war, currency regulations or any circumstances arising out of
          political, financial or economic uncertainty.

                                       4

<PAGE>

B. In the event the Reassured elects termination, the liability of the Reinsurer
shall be terminated in accordance with the termination provisions of this
Contract, provided however that the Reassured shall have the right, by the
giving of prior written notice, to relieve the Reinsurer of liability for losses
occurring subsequent to the date of termination of this Contract. In that event,
the Reinsurer shall return the unearned portion of any premiums paid hereunder
(less any applicable ceding commission allowed thereon) and the minimum premium
provisions, if any, shall be waived.

C. In the event the Reassured elects to commute, the Reinsurer shall return the
sum total of the value of the ceded (1) Net Loss Reserves, (2) Loss Adjustment
Expense Reserves, (3) incurred but not reported reserves, and (4) unearned
premium reserve (after deduction for any ceding commission allowed thereon). In
the event the parties are unable to agree on the capitalized value of the
reserves to be returned to the Reassured, the Reassured and the Reinsurer shall
jointly appoint an independent and neutral actuary experienced in such matters
and the mutually agreed actuary shall render a decision. In the event that the
Reassured and the Reinsurer are unable to agree upon a single actuary within 30
days, the parties shall ask the then current President of the Casualty Actuarial
Society to appoint an actuary with those qualifications within another 30 days.
The decision of the actuary will be final and binding on both parties. The
Reassured and the Reinsurer shall share equally the fees and expenses of the
actuary. Upon payment of the amount so agreed or determined by the actuary to
the Reassured, the Reinsurer shall be completely released from all liability
under this Contract.

D. If the Reinsurer is an authorized or otherwise qualified reinsurer that is
not obligated under the Reserves Article of this Contract, to provide security
to obtain credit for the reinsurance provided by this Contract, the Reassured
shall also have the option, if it does not elect the commutation option
described above, to require the Reinsurer to provide the Reassured with
collateral funding as if the Reinsurer were not so authorized or otherwise so
qualified equal to the Reinsurer's obligations under this Contract in a manner
and as provided for under the Reserves Article of this Contract. The Reassured
shall have the option to require the Reinsurer to provide a qualifying letter of
credit but with the Reassured's consent, the Reinsurer shall have the sole
option of determining the method of funding referred to above, provided it is
acceptable to the Reassured and any insurance regulatory authorities involved.

ARTICLE 4 - TERRITORY

     Risk located in the United States of America, its territories or
possessions and Canada. On policies which provide coverage beyond the
territorial limits, the territorial limits of this Contract shall be identical
with those of the Reassured's original policies.

ARTICLE 5 - QUOTA SHARE PARTICIPATION

A. With respect to a Loss that arises under Business Covered under this
Contract, the Reinsurer shall be liable to, reinsure, and indemnify the
Reassured for a fifty percent (50%) quota share of:

                                       5

<PAGE>

     1.   The Reassured's Net Loss, each coverage, each Policy, each Wrongful
          Act or Occurrence, each Named Insured or Additional Named Insured(s)
          but the Reinsurer's liability shall not exceed 50% of $2,000,000 in
          all for any one Net Loss each coverage, each Policy, each Wrongful Act
          or Occurrence, each Named Insured or Additional Named Insured(s) or
          $4,000,000 in the aggregate, each Policy, each Named Insured or
          Additional Named Insured(s), and

     2.   In addition to Net Loss as provided for above, ninety percent (90%) of
          any amount of (i) Extra-contractual Obligations or (ii) Loss Excess of
          Policy Limits that arises from Business Covered, each coverage, each
          Policy, each Named Insured or Additional Named Insured(s) but the
          Reinsurer's liability for any Extra-contractual Obligations and Loss
          Excess of Policy Limits shall not exceed its 50% share of 90% of (a)
          $2,000,000 any one Extra-contractual Obligations or Loss Excess of
          Policy Limits event or $4,000,000 in all for any Extra-contractual
          Obligations or Loss Excess of Policy Limits or (b) $8,000,000 in the
          aggregate any one Policy, each Named Insured or Additional Named
          Insured(s) and

B. With respect to Declaratory Judgment Expenses and in addition to the above,
the Reinsurer shall reimburse the Reassured for its quota share of a pro rata
proportion of any Declaratory Judgment Expenses ("DJ Expenses"), but such DJ
Expenses shall be subject to a total of $12,000,000 each coverage, each Policy,
each Wrongful Act or Occurrence each Named Insured or Additional Named
Insured(s) unless such DJ Expenses constitutes the only liability on the part of
the Reassured, in which case, DJ Expenses shall be deemed to be included as part
of the Reassured's Net Loss.

C. In addition to the above, the Reinsurer shall reinsure and reimburse the
Reassured for its quota share of a pro rata proportion of all Loss Adjustment
Expenses associated with the Business Covered which are not included as part of
the policy limit under the Reassured's policies reinsured hereunder, whether or
not Net Loss has been paid hereunder.

D. The Reassured shall be the sole judge of what constitutes one risk, Named
Insured or Additional Named Insured(s).

E. The Reassured is permitted to purchase facultative reinsurance and/or other
treaty reinsurance and shall deduct the premium thereof provided that the
reinsurance inures to the benefit of this treaty.

ARTICLE 6 - ORIGINAL CONDITIONS

     All Business Covered hereunder shall be subject to the same terms, clauses,
conditions, and modifications of the Reassured's Policies and the Reinsurers
shall pay losses as may be paid thereon and shall follow the settlements and
fortunes of the Reassured, subject always to the limits, terms and conditions of
this Contract.

                                       6

<PAGE>

ARTICLE 7 - EXCLUSIONS

A. The following are excluded from the scope of this Contract:

     1.   Nuclear incidents in accordance with the attached Nuclear Incident
          Exclusions Clause - Liability - Reinsurance;

     2.   Reinsurance assumed by the Reassured; except inter-company reinsurance
          between the Reassured's companies and reinsurance of an individual
          risk or policy, which are subject matter of this Contract;

     3.   Asbestos - Full and absolute exclusion

     4.   Credit, Insolvency, Financial Guarantee and Surety; Fidelity;
          Fiduciary Liability;

     5.   War Exclusion; and

     6.   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
          guaranty 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 any competent authority to be insolvent, or which is
          otherwise deemed unable to meet any claim, debt, charge, or other
          obligation in whole or in part.

B. Policies covering insureds regularly engaged in operations not excluded
hereunder but whose operations may occasionally include one or more classes
excluded under 1, 2, 3, 4, and 6 of Section A, shall not be excluded from the
coverage afforded by this Contract provided said operations are incidental to
the main operations of the insured. The Reassured shall be the sole judge of the
meaning of the word "incidental", however, incidental is defined as no more than
10% of the total operations of the applicable entity.

C. Policies covering classifications excluded hereunder which the Reassured
inadvertently issues or issues in error shall be covered hereunder provided such
policies are canceled at the first available opportunity as allowed under the
terms of the original policy when a member of the executive or managerial staff
at the Reassured's home office, having underwriting authority in the class of
business involved, becomes aware that they apply to excluded classifications.

                                       7

<PAGE>

ARTICLE 8 -- PREMIUM AND COMMISSION

A. The Reassured shall cede to the Reinsurers their proportionate share of the
gross written premium on all policies written or renewed with an effective date
on or after the inception of this Contract for the business described herein.

B. The Reinsurers shall allow a Ceding Commission of 30% to the Reassured on the
Subject Gross Net Written Premium under this contract. On all return premiums
the Reassured shall return the commission allowance to the Reinsurers. It is
expressly agreed that the ceding commission allowed the Company includes
provision for all dividends, commissions, taxes, assessments, and all other
expenses of whatever nature, except loss adjustment expense.

ARTICLE 9 - DEFINITION

A. The term "Declaratory Judgment Expense" or "DJ Expenses" as used in this
Contract will mean legal expenses paid by the Reassured in the investigation,
analysis, evaluation, resolution or litigation of coverage issues between the
Reassured and its insured(s), under policies reinsured hereunder, for a specific
loss, or losses tendered under such policies which loss or losses are not
excluded under this contract.

B. The term "Subject Gross Net Written Premium" as used in this Contract shall
mean the gross written premium of the Reassured for the classes of business
reinsured hereunder, plus additions, less return premium for cancellations and
reductions, and less premium for reinsurance that inures to the benefit of this
Contract.

C. The term "Policies", whenever used herein, shall mean all binders, policies,
contracts, certificates and other obligations, whether oral or written, of
insurance or reinsurance.

D. The terms "Wrongful Act", "Occurrence", "Named Insured" and "Additional Named
Insured" shall follow the definition of such term as in the Reassured's Policy.

E. The term "Loss Adjustment Expenses" shall mean and include but not be limited
to claims expenses sustained in connection with adjustment, defense, settlement
and litigation of claims and suits including Declaratory Judgment Expenses in
the satisfaction of judgments, resistance to or negotiations concerning a Loss
(which shall include the expenses and the pro rata share of the salaries of the
Reassured's field employees according to the time occupied in adjusting such
loss and the expenses of the Reassured's other employees while diverted from
their normal duties to the service of field adjustment but shall not include any
salaries of officers or normal overhead expenses of the Reassured), all interest
on judgments other than prejudgment interest when added to a judgment and
expenses sustained to obtain recoveries, salvages and other reimbursements, or
to secure the reversal or reduction of a verdict or judgment. Whenever Loss
Adjustment Expense is included within the limit of liability of the reinsured
Policies, such Loss Adjustment Expense will be added to the Reassured's Net
Loss.

                                       8

<PAGE>

F. The term "Net Loss" shall mean (i) the sum or sums paid by the Reassured for
which it is liable under policies reinsured hereunder, (ii) prejudgment interest
when added to a judgment, (iii) Loss Adjustment Expenses but only when included
as part of the policy limit under the Reassured's policies, and (iv) any DJ
Expenses when such expenses constitute the only liability on the part of the
Reassured with respect to a claim covered hereunder and after deductions for all
inuring reinsurances or insurances whether collectible or not, and all
reimbursements or recoveries and any subrogation or salvages received.

G. The Reinsurer's liability hereunder shall not increase by reason of the
inability of the Reassured to collect from any other reinsurer or insurer, for
any reason, any amount that may be due from such reinsurer or insurer.

H. In the event a verdict or judgment is reduced by an appeal or a settlement,
subsequent to the entry of a 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 (1) be prorated between the
Reinsurer and the Reassured in proportion that each benefits from such reduction
or reversal and the expense incurred up to the time of the verdict or judgment
shall be prorated in proportion to each party's interest in such verdict or
judgment; or (2) when the terms and conditions of the Reassured's policies
reinsured hereunder include expenses as part of the policy limit, be added to
the Reassured's Net Loss.

I. The term "Loss in Excess of Policy Limits" means any amount paid or payable
by the Reassured in excess of its policy limits, but otherwise within the terms
of a policy reinsured by this Contract, as a result of a claim against it by its
insured to recover damages the insured is legally obligated to pay because of
the Reassured's alleged or actual negligence, gross negligence, bad faith or
other tortious conduct in rejecting a settlement within policy limits, or in
discharging its duty to defend or prepare the defense in the trial of a lawsuit
against its insured, or in discharging its duty to prepare or prosecute an
appeal consequent upon such a lawsuit.

J. The term "Extra-Contractual Obligations" means any liability for damages,
including related allocated loss adjustment expenses and any related pre or post
judgment interest arising out of policies reinsured by this Contract, other than
Loss in Excess of Policy Limits, paid or payable by the Reassured as a result of
a claim against it by its insured, which claim alleges gross negligence,
negligence, bad faith or other tortious conduct rejecting a settlement within
policy limits, or in discharging its duty to defend or prepare the defense in
the trial of a lawsuit against its insured, or in discharging its duty to
prepare or prosecute an appeal consequent upon such a lawsuit. For purposes of
this definition "payable" means the existence of a judgment which the Reassured
does not intend to appeal, or existence of a settlement offer which the
Reassured has accepted, or when a release has been obtained by the Reassured as
respects any loss in excess of policy limits and/or extra contractual
obligation.

                                       9

<PAGE>

ARTICLE 10 - LOSS IN EXCESS OF POLICY LIMITS AND EXTRA CONTRACTUAL OBLIGATIONS

A. An Extra-Contractual Obligation and/or Loss in Excess of Policy Limits shall
be deemed to have occurred on the same date as the loss covered under the
Reassured's original policy and shall constitute part of the original loss. The
Reinsurer will indemnify the Reassured for any Loss in Excess of Policy Limits
or Extra Contractual Obligation without regard to the limit of this Contract,
but subject to all of the other terms and conditions of this Contract.

B. No coverage is afforded for any Loss Excess of Policy Limtis and Extra
Contractual Obligation that has been incurred due to fraud and/or criminal
act(s) by 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 covered hereunder.

C. Recoveries, whether collectible or not, including any retentions and/or
deductibles, from any form of insurance which protect the Reassured against any
loss or liability covered under this Article shall be deducted first from the
total amount of any Extra Contractual obligation and/or loss in excess of policy
limits in determining the amount of extra contractual obligation and/or loss in
excess of policy limits. The Reassured shall be indemnified in accordance with
this Article to the extent permitted by applicable law.

ARTICLE 11 - REPORTS AND REMITTANCES

A. The Reassured shall render a quarterly account within forty-five (45) days of
the close of each quarter which shall include a premium and loss bordereaux. The
premium bordereau should provide the following individual policy information:
Name of Insured, Policy Number, Effective Date, Policy Limits, and Policy
Premium. The loss bordereau should provide a listing of all claims reported, and
will include Policy Number, claim status, Name of Insured, paid loss, paid
expenses, outstanding loss, outstanding expenses and total incurred.

B. Amounts due the Reinsurers shall be remitted within sixty (60) days after the
close of the quarter. Amounts shown to be due the Reassured shall be remitted
within fifteen (15) days following the Reinsurer's receipt of the quarterly
report.

C. In the event that at any time the Reassured makes a claim payment which
exceeds $250,000 (for the 100% loss) and the amount of premiums held by the
Reassured is inadequate, it is agreed that the Reassured may make a call upon
the Reinsurer and, within five (5) working days after receipt of the cash call,
the Reinsurer agrees to pay such cash call to the Reassured directly by wire
transfer or by other mutually acceptable means. The Reassured shall also furnish
the Reinsurer any information needed and reasonably requested by the Reinsurer
in the format reasonably requested thereby.

                                       10

<PAGE>

ARTICLE 12 - ERRORS AND OMISSIONS (BRMA 14A)

     Errors and omissions on the part of the Company shall not invalidate the
reinsurance under this Contract, provided such errors or omissions are corrected
promptly after discovery thereof, but the liability of the Reinsurer under this
Contract or any exhibits or endorsements attached hereto shall in no event
exceed the limits specified herein, nor be extended to cover any risks, perils
or classes of insurance or reinsurance generally or specifically excluded
herein.

ARTICLE 13 - CURRENCY (BRMA 12A)

A. Whenever the word "Dollars" or the "$" sign appears in this Contract, they
shall be construed to mean United States Dollars and all transactions under this
Contract shall be in United States Dollars.

B. Amounts paid or received by the Reassured in any other currency shall be
converted to United States Dollars at the rate of exchange at the date such
transaction is entered on the books of the Reassured.

ARTICLE 14 - TAXES (BRMA 50A)

     In consideration of the terms under which this Contract is issued, the
Reassured undertakes not to claim any deduction of the premium hereon when
making Canadian Tax returns or when making tax returns, other than Income or
Profits Tax returns, to any State or Territory of the United States of America
or to the District of Columbia.

ARTICLE 15 - FEDERAL EXCISE TAX (BRMA 17A)

(Applicable to those Reinsurers, excepting Underwriters at Lloyd's London and
other Reinsurers exempt from Federal Excise Tax, who are domiciled outside the
United States of America.)

A. The Reinsurers have agreed to allow for the purpose of paying the Federal
Excise Tax the applicable percentage of the premium payable hereon (as imposed
under Section 4371 of the Internal Revenue Code) to the extent such premium is
subject to the Federal Excise Tax.

B. In the event of any return of premium becoming due hereunder, the Reinsurers
shall deduct the applicable percentage from the return premium payable hereon
and the Reassured or its agent should take steps to recover the tax from the
United States Government.

ARTICLE 16 - OFFSET (BRMA 36C)

     The Reassured and the Reinsurers shall have the right to offset any balance
or amounts due from one party to the other under the terms of this Contract. The
party asserting the right of offset may exercise such right any time whether the
balances due are on account of premiums or losses or otherwise.

                                       11

<PAGE>

ARTICLE 17 - ACCESS TO RECORDS CLAUSE (BRMA 1A)

     The Reinsurer or its designated representatives shall have free access at
any reasonable time to all records of the Company which pertain in any way to
this reinsurance.

ARTICLE 18 - RESERVES

A. If a jurisdiction of the United States shall not permit the Reassured, in the
statements required to be filed with its regulatory authority(ies), to receive
full credit as admitted reinsurance for any Reinsurers' share of obligations,
the Reassured shall forward to the Reinsurers a statement of the Reinsurers'
share of such obligations. Upon receipt of that statement the Reinsurers shall
promptly apply for, and provide the Reassured with, a "clean," unconditional and
irrevocable Letter of Credit, in the amount specified in the statement
submitted, with terms and from a bank acceptable to the Reassured and the
regulatory authority(ies) having jurisdiction over the Reassured.

B. "Obligations," as used in this Article, shall mean the sum of ceded (i) Net
Losses and Loss Adjustment Expenses paid by the Reassured but not yet recovered
from the Reinsurers, plus (ii) reserves for reported Net Losses and Loss
Adjustment Expenses, plus (iii) reserves for Net Losses incurred but not
reported (including Loss Adjustment Expenses) and premiums unearned, if any.

C. The Letter of Credit shall provide for automatic extension of the Letter of
Credit without amendment for one year from the date of expiration of said Letter
or any future expiration date unless thirty (30) days prior to any expiration
the issuing bank shall notify the Reassured by certified mail that the issuing
bank elects not to consider the Letter of Credit renewed for any additional
period. An issuing bank, not a "qualified bank" as defined by Regulation No. 133
promulgated by the Insurance Department of the State of New York, shall provide
sixty (60) days notice to the Reassured prior to any expiration.

D. Notwithstanding any other provision of this Contract, the Reassured or any
successor by operation of law of the Reassured including, without limitation,
any liquidator, rehabilitator, receiver or conservator of the Reassured may draw
upon such credit, without diminution because of the insolvency of any party
hereto, at any time and undertakes to use and apply such credit for one or more
of the following purposes only:

     1.   To pay the Reinsurers' share or to reimburse the Reassured for the
          Reinsurers' share of any Obligations, as stipulated in the statement
          submitted by the Reassured to the Reinsurers, which is due to the
          Reassured and not otherwise paid by the Reinsurers.

     2.   In the event the Reassured has received notice of non-renewal of the
          Letter of Credit and the Reinsurer's liability remains unliquidated
          and undischarged thirty (30) days prior to the expiry date of the
          Letter of Credit, to withdraw the balance of the Letter of Credit and
          place such sums in an interest bearing trust account to secure the
          continuing obligations of the Reinsurer under this Contract until a
          renewal Letter of

                                       12

<PAGE>

          Credit acceptable to the Reassured and the regulatory authority(ies)
          having jurisdiction over the Reassured, or a substitute in lieu
          thereof acceptable to the Reassured and the regulatory authority(ies)
          having jurisdiction over the Reassured, has been received by the
          Reassured. The Reassured shall provide to the Reinsurers payment of
          any interest thereon accruing from such account.

     3.   To make refund of any sum which is in excess of the actual amount
          required for Sections 1 and 2 of this paragraph.

E. At annual intervals or more frequently as determined by the Reassured, but
never more frequently than quarterly, the Reassured shall prepare a specific
statement, for the sole purpose of amending the Letter of Credit, of the
Reinsurers' share of any obligations. If the statement shows that the
Reinsurers' share of obligations exceeds the balance of credit as of the
statement date, the Reinsurers shall, within thirty (30) days after receipt of
notice of such excess, secure delivery to the Reassured of an amendment of the
Letter of Credit increasing the amount of credit by the amount of such
difference. If the statement shows, however, that the Reinsurers' share of
obligations is less than the balance of credit as of the statement date, the
Reassured shall, within thirty (30) days after receipt of written request from
the Reinsurers, release such excess credit by agreeing to secure an amendment to
the Letter of Credit reducing the amount of credit available by the amount of
such excess credit.

ARTICLE 19 - SERVICE OF SUIT

A. This Article only applies to a Reinsurer domiciled outside of the United
States and/or unauthorized in any state, territory or district of the United
States having jurisdiction over the Reassured. Furthermore, this Article will
not be read to conflict with or override the obligations of the parties to
arbitrate their disputes as provided for in the Article entitled Arbitration.
This Article is intended as an aid to compelling arbitration or enforcing such
arbitration or arbitral award, not as an alternative to the Arbitration Article
for resolving disputes arising out of this Contract.

B. In the event of any dispute, the Reinsurer, at the request of the Reassured,
shall 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 any obligation to arbitrate disputes arising from this
Contract or 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.

C. Service of process in any such suit against the Reinsurer may be made upon
Mendes and Mount, 750 Seventh Avenue, New York, New York 10019-6829, - or in
substitution therefore, the firm identified by the Reinsurer on the Reinsurer's
signature page to this Contract, - ("Firm") and in any suit instituted, the
Reinsurer shall abide by the final decision of such court or of any Appellate
Court in the event of an appeal.

                                       13

<PAGE>

D. The Firm is authorized and directed to accept service of process on behalf of
the Reinsurer in any such suit and/or upon the request of the Reassured to give
a written undertaking to the Reassured that they shall enter a general
appearance upon the Reinsurer's behalf in the event such a suit shall be
instituted.

E. Further, as required by and pursuant to any statute of any state, territory
or district of the United States which makes provision therefore, the Reinsurer
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 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, 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.

ARTICLE 20 - ARBITRATION CLAUSE (BRMA 6A)

A. Any dispute or other matter in question between the Reassured and the
Reinsurers arising out of, or relating to, the formation, interpretation,
performance or breach of this Contract, whether such dispute arises before or
after termination of this Contract, shall be settled by arbitration. 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.

B. If more than one Reinsurer is involved in the same dispute, all Reinsurers
shall constitute and act as one party for the purposes of this Article,
provided, however, that nothing herein shall impair the rights of any such
Reinsurer 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.

C. 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, each of the arbitrators shall
nominate three individuals. Each arbitrator shall then decline two of the
nominations presented by the other arbitrator. The third arbitrator shall then
be chosen from the remaining two nominations by drawing lots. The arbitrators
shall be active or former officers of insurance or reinsurance companies or
Lloyd's Underwriters; the arbitrators shall not have a personal or financial
interest in the result of the arbitration.

D. The arbitration hearings shall be held in New York, New York, or such other
place as may be mutually agreed. Each party shall submit its case to the
arbitrators within sixty (60) days of the selection of the third arbitrator or
within such longer period as may be agreed by the arbitrators. The arbitrators
shall not be obliged to follow judicial formalities or the rules of evidence
except to the extent required by governing law, that is, the state law of the
situs of the arbitration as herein agreed; they shall make their decisions
according to the practice of the reinsurance business. The decision rendered by
a majority of the arbitrators shall be final and binding on both parties. Such
decision

                                       14

<PAGE>

shall be a condition precedent to any right of legal action arising out of the
arbitrated dispute which either party may have against the other. Judgment upon
the award rendered may be entered in any court having jurisdiction thereof.

E. Each party shall pay the fee and expenses of its own arbitrator and one-half
of the fee and expenses of the third arbitrator. All other expenses of the
arbitration shall be equally divided between the parties.

F. Except as provided above, arbitration shall be based, insofar as applicable,
upon either the arbitration procedures of ARIAS US or the Procedures for the
Resolution of U.S. Insurance and Reinsurance Disputes as the parties may agree
or in the absence of any agreement, as the Reassured shall elect.

ARTICLE 21 - INSOLVENCY CLAUSE (BRMA 19C)

A. In the event of insolvency and the appointment of a conservator, liquidator,
or statutory successor of the Reassured, the portion of any risk or obligation
assumed by the Reinsurers shall be payable to the conservator, liquidator, or
statutory successor on the basis of claims allowed against the insolvent
Reassured by any court of competent jurisdiction or by any conservator,
liquidator, or statutory successor of the Reassured having authority to allow
such claims, without diminution because of that insolvency, or because the
conservator, liquidator, or statutory successor has failed to pay all or a
portion of any claims.

B. Payments by the reinsurer as above set forth shall be made directly to the
reassured or to its conservator, liquidator, or statutory successor, except
where the contract of insurance or reinsurance specifically provides another
payee of such reinsurance or except as provided by subsection (a) of section
4118 of the New York lnsurance laws in the event of the insolvency of the
reassured.

C. In the event of the insolvency of the Reassured, the liquidator, receiver,
conservator or statutory successor of the Reassured shall give written notice to
the Reinsurers of the pendency of a claim against the insolvent Reassured on the
policy or policies reinsured within a reasonable time after such claim is filed
in the insolvency proceeding and during the pendency of such claim any Reinsurer
may investigate such claim and interpose, at its own expense, in the proceeding
where such claim is to be adjudicated any defense or defenses which it may deem
available to the Reassured or its liquidator, receiver, conservator or statutory
successor. The expense thus incurred by the Reinsurer 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 undertaken by the
Reinsurer.

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

                                       15

<PAGE>

E. The original insured or policyholder shall not have any rights against the
reinsurer which are not specifically set forth in the contract of reinsurance,
or in a specific agreement between the reinsurer and the original insured or
policyholder.

ARTICLE 22 - INTERMEDIARY CLAUSE (BRMA 23A)

     Towers Perrin Reinsurance is hereby recognized as the Intermediary
negotiating this Contract for all business hereunder. All communications
(including but not limited to notices, statements, premium, return premium,
commissions, taxes, losses, loss adjustment expense, salvages and loss
settlements) relating thereto shall be transmitted to the Reassured or the
Reinsurers through Towers Perrin Reinsurance, One Stamford Plaza, 263 Tresser
Boulevard, Stamford, Connecticut, 06901-3226. Payments by the Reassured to the
Intermediary shall be deemed to constitute payment to the Reinsurers. Payments
by the Reinsurers to the Intermediary shall be deemed to constitute payment to
the Reassured only to the extent that such payments are actually received by the
Reassured.

                                       16

<PAGE>

           NUCLEAR INCIDENT EXCLUSION CLAUSE - LIABILITY - REINSURANCE
                                U.S.A. (BRMA 35A)

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

                                       17

<PAGE>

               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 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 resulting

                                       18

<PAGE>

               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 byproduct material other than tailings or
               wastes produced by the extraction or concentration of uranium or
               thorium from any ore processed primarily for its source material
               content, and (2) resulting from the operation by any person or
               organization of any nuclear facility included under the first two
               paragraphs of the definition of nuclear facility; "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)

                                       19

<PAGE>

                    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 injury 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

          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:

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

               (b)  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

                                       20

<PAGE>

       include a Limited Exclusion Provision or a Broad Exclusion Provision
       containing those words.

                                       21

<PAGE>

           NUCLEAR INCIDENT EXCLUSION CLAUSE - LIABILITY - REINSURANCE
                                CANADA (BRMA 35D)

1. This Agreement 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 agreed that for all purposes of this Agreement all the original liability
contracts of the Reassured, whether new, renewal or replacement, of the
following classes, namely:

     Personal Liability
     Farmers' Liability
     Storekeepers' Liability

which become effective on or after 31st December 1984, 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 use of such property shall be deemed to
     be property damage.

3. Without in any way restricting the operation of paragraph 1 of this clause,
it is agreed that for all purposes of this Agreement all the original liability
contracts of the Reassured, 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 1984, 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 under the Nuclear Liability Act;
          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 insurance (whether the Insured is unnamed in such contract
          and whether or not it is legally enforceable by the Insured) issued by
          the Nuclear

                                       22

<PAGE>

          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 of 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 useable 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 that the Atomic Energy Control Board may, by
regulation, designate as being prescribed substances capable of releasing atomic
energy, or as being requisite for the production, use or application of atomic
energy.

3. The term "nuclear facility" means:

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

     (b)  Any equipment or device designed or used for (1) separating the
          isotopes of plutonium, thorium and uranium or any one or more of them,
          (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 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

                                       23

<PAGE>

          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.

                                       24

<PAGE>

               WAR RISK EXCLUSION CLAUSE (REINSURANCE) (BRMA 56B)

A. As regards interests which at time of loss or damage are on shore, no
liability shall attach hereto in respect of any loss or damage which is
occasioned by war, invasion, hostilities, acts of foreign enemies, civil war,
rebellion, insurrection, military or usurped power, or martial law or
confiscation by order of any government or public authority.

B. This War Exclusion Clause shall not, however, apply to interests which at
time of loss or damage are within the territorial limits of the United States of
America (comprising the fifty States of the Union and the District of Columbia,
its territories and possessions, including the Panama Canal Zone and the
Commonwealth of Puerto Rico and including Bridges between the United States of
America and Mexico provided they are under United States ownership), Canada, St.
Pierre and Miquelon, provided such interests are insured under original
policies, endorsements or binders containing a standard war or hostilities or
warlike operations exclusion clause.

C. Nevertheless, this clause shall not be construed to apply to loss or damage
occasioned by riots, strikes, civil commotion, vandalism, malicious damage,
including acts committed by agents of any government, party or faction engaged
in war, hostilities or other warlike operation, provided such agents are acting
secretly and not in connection with any operations of military or naval armed
forces in the country where the interests insured are situated.

                                       25

<PAGE>

                                                         Contract No.: E25218.05

            and signed in Farmington, Connecticut, this ,19th day of April 2005.

                                        DARWIN NATIONAL ASSURANCE COMPANY
                                        PLATTE RIVER INSURANCE
                                        COMPANY CAPITOL SPECIALTY
                                        INSURANCE CORPORATION
                                        And any other associated affiliated or
                                        subsidiary companies of
                                        ALLEGHANY INSURANCE HOLDINGS, LTD.

                                        BY /s/ Stephen J. Sills
                                           -------------------------------------
                                        TITLE  President and CEO
                                              ----------------------------------

                        attaching to and forming part of

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                               QUOTA SHARE TREATY

              EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME

                                       26

<PAGE>

                                                           Contract No. 10589-04

                PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                               QUOTA SHARE TREATY

              EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME

                                    issued to

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
               And any other associated or subsidiary companies of
                       ALLEGHANY INSURANCE HOLDINGS, LTD.

                                    DELAWARE

                      (hereinafter called the "Reassured")

                                       by

                    ACE PROPERTY & CASUALTY INSURANCE COMPANY
                        through ACE TEMPEST RE USA, LLC.

                                  PENNSYLVANIA

         (hereinafter called, with other participants, the "Reinsurers")

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

                                 a 25.00% share

   of the liability described in the attached Contract and, as consideration,
    the Reinsurer shall receive a 25.00% share of the premium named therein,

           Signed in Stamford, Connecticut, this 1st day of July 2005.

                                        ACE PROPERTY & CASUALTY INSURANCE
                                        COMPANY through ACE TEMPEST RE USA, LLC.

                                        BY  /s/ James Donovan
                                           -------------------------------------
                                        TITLE  Vice President
                                              ----------------------------------

                                       27

<PAGE>

                                                                Contract No. TBD

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                               QUOTA SHARE TREATY

              EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME

                                    issued to

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
               And any other associated or subsidiary companies of
                       ALLEGHANY INSURANCE HOLDINGS, LTD.

                                    DELAWARE

                      (hereinafter called the "Reassured")

                                       by

                          AMERICAN RE-INSURANCE COMPANY

                                    DELAWARE

         (hereinafter called, with other participants, the "Reinsurers")

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

                                 a 25.00% share

   of the liability described in the attached Contract and, as consideration,
    the Reinsurer shall receive a 25.00% share of the premium named therein.

           Signed in Princeton, New Jersey, this 6th day of June 2005.

                                        AMERICAN RE-INSURANCE COMPANY

                                        BY /s/ Charles Puno
                                           -------------------------------------
                                        TITLE  Senior Vice President
                                              ----------------------------------

                                       28

<PAGE>

                                                     Contract No.: Please Advise

                                ENDORSEMENT NO. 1
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                       to

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                                   QUOTA SHARE
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                    issued to

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
         And any other associated, affiliated or subsidiary companies of
                        ALLEGHANY INSURANCE HOLDING, LTD.
                                    DELAWARE

                                       by

                          AMERICAN RE-INSURANCE COMPANY
                                    DELAWARE

     It is understood and agreed that effective October 1, 2004, at 12:01 a.m.,
Standard Time, this Contract is extended for one month to November 1, 2005, at
12:01 a.m., Standard Time. It is also hereby mutual understood and agreed that
this Contract is amended as follows:

Article 5, QUOTA SHARE PARTICIPATION is amended to read as follows:

A.   With respect to a Loss that arises under Business Covered under this
     Contract, the Reinsurer shall be liable to reinsure and indemnify the
     Reassured for:

     1.   The Reassured's Net Loss, each coverage, each Policy, each Wrongful
          Act or Occurrence, each Named Insured or Additional Named insured(s)
          but the Reinsurer's liability shall not exceed 50% of $2,000,000 in
          all for any one Net Loss each coverage, each Policy, each Wrongful Act
          or Occurrence, each Named Insured or Additional Named Insured(s) or
          $4,000,000 in the aggregate, each Policy, each Named Insured or
          Additional Named Insured(s), and

     2.   In addition to Net Loss as provided for above, ninety percent (90%) of
          any amount of (i) Extra-contractual Obligations or (ii) Loss Excess of
          Policy Limits that arises from Business Covered, each coverage, each
          Policy, each Named Insured or Additional Named Insured(s) but the
          Reinsurer's

                                       29

<PAGE>

          liability for any Extra-contractual Obligations or Loss Excess of
          Policy Limits shall not exceed an amount equal to its 50% quota share
          of 90% of the Treaty Limit hereon; and

                                       30

<PAGE>

                                                          Contract No.: 10589-04

                                ENDORSEMENT NO. 1
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                       to

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                                   QUOTA SHARE
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                    issued to

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
         And any other associated, affiliated or subsidiary companies of
                        ALLEGHANY INSURANCE HOLDING, LTD.
                                    DELAWARE

                                       by

                    ACE PROPERTY & CASUALTY INSURANCE COMPANY
                        throuqh ACE TEMPEST RE USA, LLC.
                                  PENNSYLVANIA

     It is understood and agreed that effective October 1, 2004, at 12:01 a.m.,
Standard Time, this Contract is extended for one month to November 1, 2005, at
12:01 a.m., Standard Time. It is also hereby mutual understood and agreed that
this Contract is amended as follows:

Article 5, QUOTA SHARE PARTICIPATION is amended to read as follows:

A. With respect to a Loss that arises under Business Covered under this
Contract, the Reinsurer shall be liable to reinsure and indemnify the Reassured
for:

     1.   The Reassured's Net Loss, each coverage, each Policy, each Wrongful
          Act or Occurrence, each Named Insured or Additional Named Insured(s)
          but the Reinsurer's liability shall not exceed 50% of $2,000,000 in
          all for any one Net Loss each coverage, each Policy, each Wrongful Act
          or Occurrence, each Named Insured or Additional Named Insured(s) or
          $6,000,000 in the aggregate, each Policy, each Named Insured or
          Additional Named Insured(s), and

     2.   In addition to Net Loss as provided for above, ninety percent (90%) of
          any amount of (i) Extra-contractual Obligations or (ii) Loss Excess of
          Policy Limits that arises from Business Covered, each coverage, each
          Policy,

                                       31

<PAGE>

          each Named Insured or Additional Named Insured(s) but the Reinsurer's
          liability for any Extra-contractual Obligations or Loss Excess of
          Policy Limits shall not exceed an amount equal to its 50% quota share
          of 90% of the Treaty Limit hereon; and

     3.   In addition to the above, with respect to Declaratory Judgement
          Expenses, its 50% quota share of any Declaratory Judgement Expenses
          ("DJ Expenses"), but the Reinsurers' liability for such DJ Expenses
          shall not exceed an amount equal to its 50% quota share of two times
          the Treaty Limit hereon, each Coverage, each Policy, each Wrongful Act
          or Occurrence each Named Insured or Additional Named Insured(s) unless
          such DJ Expenses constitutes the only liability on the part of the
          Reassured, in which case, DJ expenses shall also be deemed to be
          included as part of the Reassured's Net Loss.

B. In addition to the above, the Reinsurer shall reinsure and reimburse the
Reassured for its quota share of a pro rata proportion of all Loss Adjustment
Expenses associated with the Business Covered which are not included as part of
the policy limit under the Reassured's policies reinsured hereunder, whether or
not Net Loss has been paid hereunder.

C. The Reassured shall be the sole judge of what constitutes one risk, Named
Insured or Additional Named Insured(s).

D. The Reassured is permitted to purchase facultative reinsurance and/or other
treaty reinsurance and shall deduct the premium thereof provided that the
reinsurance inures to the benefit of this treaty.

It is hereby mutually understood and agreed that effective November 1, 2005 at
12:01 a.m., Standard Time, this contract is cancelled on a run-off basis.

All other terms and conditions remain unchanged.

Signed in Stamford, Connecticut, this ________ day of _____, 2005.

                                        ACE PROPERTY & CASUALTY
                                        INSURANCE COMPANY through ACE TEMPEST
                                        RE, USA. LLC.

                                        BY
                                           -------------------------------------
                                        TITLE
                                              ----------------------------------

                                       32

<PAGE>

                                                     Contract No.: Please Advise

                                ENDORSEMENT NO. 1
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                       to

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                                   QUOTA SHARE
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                    issued to

                        DARWIN NATIONAL ASSURANCE COMPANY
                         PLATTE RIVER INSURANCE COMPANY
                     CAPITOL SPECIALTY INSURANCE CORPORATION
         And any other associated, affiliated or subsidiary companies of
                       ALLEGHANY INSURANCE HOLDING, LTD.,
                                    DELAWARE

                                       by

                          AMERICAN RE-INSURANCE COMPANY
                                    DELAWARE

     It is understood and agreed that effective October 1, 2004, at 12:01 a.m.,
Standard Time, this Contract is extended for one month to November 1, 2005, at
12:01 a.m., Standard Time. It is also hereby mutual understood and agreed that
this Contract is amended as follows:

Article 5, QUOTA SHARE PARTICIPATION is amended to read as follows:

A. With respect to a Loss that arises under Business Covered under this
Contract, the Reinsurer shall be liable to reinsure and indemnify the Reassured
for:

     1.   The Reassured's Net Loss, each coverage, each Policy, each Wrongful
          Act or Occurrence, each Named Insured or Additional Named Insured(s)
          but the Reinsurer's liability shall not exceed 50% of $2,000,000 in
          all for any one Net Loss each coverage, each Policy, each Wrongful Act
          or Occurrence, each Named Insured or Additional Named Insured(s) or
          $6,000,000 in the aggregate, each Policy, each Named Insured or
          Additional Named Insured(s), and

     2.   In addition to Net Loss as provided for above, ninety percent (90%) of
          any amount of (i) Extra-contractual Obligations or (ii) Loss Excess of
          Policy Limits that arises from Business Covered, each coverage, each
          Policy, each Named Insured or Additional Named Insured(s) but the
          Reinsurer's

                                       33

<PAGE>

          liability for any Extra-contractual Obligations or Loss Excess of
          Policy Limits shall not exceed an amount equal to its 50% quota share
          of 90% of the Treaty Limit hereon; and

     3.   In addition to the above, with respect to Declaratory Judgement
          Expenses, its 50% quota share of any Declaratory Judgement Expenses
          ("DJ Expenses"), but the Reinsurers' liability for such DJ Expenses
          shall not exceed an amount equal to its 50% quota share of two times
          the Treaty Limit hereon, each Coverage, each Policy, each Wrongful Act
          or Occurrence each Named Insured or Additional Named insured(s) unless
          such DJ Expenses constitutes the only liability on the part of the
          Reassured, in which case, DJ expenses shall also be deemed to be
          included as part of the Reassured's Net Loss.

B. In addition to the above, the Reinsurer shall reinsure and reimburse the
Reassured for its quota share of a pro rata proportion of all Loss Adjustment
Expenses associated with the Business Covered which are not included as part of
the policy limit under the Reassured's policies reinsured hereunder, whether or
not Net Loss has been paid hereunder.

C. The Reassured shall be the sole judge of what constitutes one risk, Named
Insured or Additional Named Insured(s).

D. The Reassured is permitted to purchase facultative reinsurance and/or other
treaty reinsurance and shall deduct the premium thereof provided that the
reinsurance inures to the benefit of this treaty.

It is hereby mutually understood and agreed that effective November 1, 2005 at
12:01 a.m., Standard Time, this contract is cancelled on a run-off basis.

All other terms and conditions remain unchanged.

signed in Stamford, Connecticut, this _________ day of ______, 2005.

                                        AMERICAN RE-INSURANCE COMPANY

                                        BY
                                           -------------------------------------
                                        TITLE
                                              ----------------------------------

                                       34

<PAGE>

                                                         Contract No.: E25218.04

           and signed in Farmington, Connecticut, this 9th day of December, 2005

                                        DARWIN NATIONAL ASSURANCE COMPANY
                                        PLATTE RIVER INSURANCE COMPANY
                                        CAPITOL SPECIALTY INSURANCE CORPORATION
                                        and any other associated, affiliated or
                                        subsidiary companies of
                                        ALLEGHANY INSURANCE HOLDING, LTD.
                                        DELAWARE

                                        BY  /s/ Stephen J. Sills
                                           -------------------------------------
                                        TITLE
                                              ----------------------------------

                                ENDORSEMENT NO. 1
             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                        attaching to and forming part of

                 PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY
                               QUOTA SHARE TREATY

             (EFFECTIVE OCTOBER 1, 2004, 12:01 A.M., STANDARD TIME)

                                       35

<PAGE>

                  AMENDMENT TO PROGRAM ADMINISTRATOR AGREEMENT

WHEREAS, the Parties to the Program Administrator Agreement ("Agreement"), which
was effective as of October 1, 2004, have determined that the Agreement requires
certain amendments as indicated below; and

WHEREAS, the Parties have mutually agreed that the Agreement be amended pursuant
to Section XVI;

NOW THEREFORE, the Parties hereby agree as follows:

1.   The opening paragraph of the Agreement, listing the parties to the
     Agreement, is deleted in its entirety and replaced as follows:

     "This Program Administrator Agreement ("Agreement") is effective as of
     October 1, 2004 (the "Effective Date") between American Professional
     Agency, Inc., the ("Program Administrator"), Darwin Professional
     Underwriters Inc. ("the Company"), and Darwin National Assurance Company,
     Platte River Insurance Company, and Darwin Select Insurance Company. The
     parties hereto hereby agree as follows:"

2.   Section XI, paragraph (B) of the Agreement, governing Termination, is
     deleted in its entirety and replaced as follows:

     "B.  Either party shall have the right to terminate this Agreement by
          written notice to the other party specifying the effective date of
          such termination, which shall be not less than 180 days thereafter.
          Provided, however, that in the event that the Company maintains access
          for the Program Administrator to writing companies whose paper is
          rated "A-" or better by A.M. Best, and has complied with the
          obligations of this Agreement, the Program Administrator will not
          terminate the Agreement and enter into a similar agreement with
          another entity substantially covering the business formerly covered by
          the Agreement without offering the Company the opportunity to match
          the financial terms proposed in the agreement with the other."

3.   Section XIV, Notices, shall be amended to replace the address for Darwin
     Professional Underwriters, Inc., shown therein, as follows:

     Darwin Professional Underwriters, Inc.
     9 Farm Springs Road
     Farmington, CT 06032.

                                       36

<PAGE>

                                                     Endorsement No. One
                                                     To Cover Note No. E25218.04

DARWIN NATIONAL ASSURANCE COMPANY
PLATTE RIVER INSURANCE COMPANY
CAPITOL SPECIALTY INSURANCE CORPORATION
and any other associated, affiliated or subsidiary companies of
ALLEGHANY INSURANCE HOLDING LTD. DELAWARE

PSYCHIATRISTS PROFESSIONAL AND OFFICE LIABILITY QUOTA SHARE

It is hereby mutually understood and agreed that effective October 1, 2004, at
12:01 a.m., Standard Time, this contract is extended for one month to November
1, 2005 at 12:01 a.m., Standard Time. It is also hereby mutually understood and
agreed that this Contract is amended as follows:

<TABLE>
<S>                         <C>
Quota Share Participation   The Reassured shall cede and the Reinsurers shall
                            accept 50% participation of the Reassured's net
                            liability on risks under all policies covered
                            hereunder. However, in no event shall the Reinsurers
                            be liable for more than 50% of $2,000,000 on any one
                            claim, any one policy or $6,000,000 in the aggregate
                            any one policy as original.

                            The Reassured shall retain 50% of all losses up to a
                            limit of liability of $2,000,000 on any one policy
                            or $6,000,000 in the aggregate any one policy as
                            original.
</TABLE>

It is hereby mutually understood and agreed that effective November 1, 2005 at
12:01 a.m., Standard Time, this contract is cancelled on a run-off basis.

All other terms and conditions remain unchanged.

                                       37

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