**EXHIBIT 1**

X.L. Layer 1 -- 100% part of $75,000,000 excess of $170,000,000 Per Occurrence Retention Amount

**Underlying Coverage(s):**

| Type of Coverage | Limit | Retention/ Underlying Amount | Insurer(s) | Policy Period |
|------------------|-------|------------------------------|------------|---------------|
| LEAD UMBRELLA    | $25,000,000 | PRIMARY                      | AMERICAN INT'L UNDERWRITERS | MAY 21, 1996 - MAY 21, 1998 |
| EXCESS           | $15,000,000 P/O $25,000,000 | $25,000,000                  | AETNA       | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $5,000,000 P/O $25,000,000   | $25,000,000                  | FEDERAL (CHUBB) | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $5,000,000 P/O $25,000,000   | $25,000,000                  | ROYAL       | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $10,000,000                | $50,000,000                   | TWIN CITY  | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $15,000,000 P/O $55,000,000  | $60,000,000                   | FEDERAL (CHUBB) | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $10,000,000 P/O $55,000,000  | $60,000,000                   | AETNA       | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $15,000,000 P/O $55,000,000  | $60,000,000                   | AGRICULTURAL | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $5,000,000 P/O $55,000,000   | $60,000,000                   | ZURICH      | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $10,000,000 P/O $55,000,000  | $60,000,000                   | RELIANCE   | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $5,000,000                | $115,000,000                  | FEDERAL (CHUBB) | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $30,000,000 P/O $50,000,000  | $120,000,000                  | ZURICH      | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $10,000,000 P/O $50,000,000  | $120,000,000                  | GREAT AMERICAN | MAY 21, 1996 - MAY 21, 1997 |
| EXCESS           | $10,000,000 P/O $50,000,000  | $120,000,000                  | FIREMAN'S FUND | MAY 21, 1996 - MAY 21, 1997 |

**Ref:** XS4-095.01