Any Quota Share Policy(ies) (as set forth in Section II of Endorsement No. 1 'Schedule of Quota Share Policy(ies)' to this Policy and hereinafter referred to as "Quota Share Policy(ies)") contain any warranties, terms, conditions, exclusions or limitations more restrictive than this Policy or the Followed Policy, whether on the effective date of this Policy or at any time during the Policy Period of this Policy, then this Policy shall be deemed to follow those most restrictive warranties, terms, conditions, exclusions or limitations of the Intervening Policy(ies).and Quota Share Policy(ies).

**Authorized Representative**

Date: June 15, 2011

Title: Senior Vice President Underwriting Manager, Excess Casualty

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BSF-02 (Ed. 709)