EXHIBIT 10.15d - COVER LETTER
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March 21, 1997
Securities and Exchange Commission
000 Xxxxx Xxxxxx, X.X.
Xxxxxxxxxx, X.X. 00000
Re: Commercial Umbrella Liability Excess of Loss Reinsurance Agreement as
amended through April 5, 1995 between American Re-Insurance Company
and Selective insurance Company of America, Selective Way Insurance
Company, Selective Insurance Company of the Southeast, and Selective
Insurance Company of South Carolina (Contract No. 3525-0067)
Ladies and Gentlemen:
Accompanying this letter for filing pursuant to the Securities Act of 1933,
is an amendment, dated November 5, 1996, to the reinsurance agreement
referred to above. This agreement was filed as Exhibit 10.13b to the
Company's Annual Report on Form 10-K for the year ended December 31, 1995,
File No. 0-8641.
Very truly yours,
/s/ Xxx X. XxXxxxxxxx, Xx.
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Xxx X. XxXxxxxxxx, Xx.
Accountant Technical
Specialist
EXHIBIT 10.15d
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No. 3525-0067-E006
ENDORSEMENT
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Attached to and forming part of the Commercial Umbrella Liability Excess
of Loss Reinsurance Agreement No.3525-0067 made and entered into by and
between the AMERICAN RE-INSURANCE COMPANY, Princeton, New Jersey (hereinafter
called the "Reinsurer") and SELECTIVE INSURANCE COMPANY OF AMERICA and
SELECTIVE WAY INSURANCE COMPANY, both of Branchville, New Jersey, SELECTIVE
INSURANCE COMPANY OF SOUTH CAROLINA and SELECTIVE INSURANCE COMPANY OF THE
SOUTHEAST, both of Charlotte, North Carolina, and EXCHANGE INSURANCE COMPANY,
Buffalo, New York, and CHARLESTON INSURANCE COMPANY, North Charleston, South
Carolina (hereinafter collectively called the "Company").
It is mutually understood and agreed that effective 12:01 A.M., July 1,
1996, ARTICLE III - LIMITS OF COVER and ARTICLE V - PREMIUM are amended as
follows:
ARTICLE III
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LIMITS OF COVER
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(a) As respects commercial umbrella policies issued for the Statewide
Excess Liability Fund (SELF) for amounts greater than $10,000,000 but not
exceeding $ 15,000,000, the Reinsurer shall reimburse the Company for the
amount of its ultimate net loss under each policy in each occurrence in
excess of $10,000,000 under each policy in each occurrence.
(b) It is understood and agreed that in no event shall the Reinsurer's
liability exceed the difference between the Company's retention and the
limits of liability provided in the Company's policy subject to the
Reinsurer's limit of liability set forth above.
ARTICLE V
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PREMIUM
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As respects policies issued for the Statewide Excess Liability Fund
(SELF) for amounts greater than $10,000,000 but not exceeding $15,000,000,
the Company shall pay the Reinsurer for each risk covered:
i. $.40 per capita of each municipality reinsured hereunder,
ii. $.20 per capita of each county reinsured hereunder,
provided the Reinsurer's premium shall never be less than $300 for each
million dollar of policy limits.
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PAGE
No. 3525-0067-E006
IN WITNESS WHEREOF the parties hereto have caused this Endorsement to be
executed in duplicate this 5th day of November, 1996.
AMERICAN RE-INSURANCE COMPANY
/s/ Xxx X. Xxxxxx
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Xxx X. Xxxxxx
/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
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Attested by:
ACCEPTED:
SELECTIVE INSURANCE COMPANY OF AMERICA
SELECTIVE WAY INSURANCE COMPANY
SELECTIVE INSURANCE COMPANY OF SOUTH CAROLINA
SELECTIVE INSURANCE COMPANY OF THE SOUTHEAST
EXCHANGE INSURANCE COMPANY
CHARLESTON INSURANCE COMPANY
/s/ P.C. Xxxxxxxx
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P.C. Xxxxxxxx
/s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx
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Attested by:
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