# Skandia America Reinsurance Corporation

## Casualty Facultative Reinsurance Certificate

**Ceding Company:** National Union Fire Insurance Company  
**Name of Insured:** International Business Machines  
**Intermediary:** National Facultative Services  
**City:** Armonk  
**State:** New York  

**Company Policy Number:** To Be Determined  
**Policy Period:** From 5/21/80 To 5/21/81  

**Section A: Description of Ceding Company Policy**
- Excess Commercial Umbrella Liability, excluding:
  - 1) Data Processing Errors & Omissions
  - 2) Products Recall
  - 3) ERISA
  - 4) Aircraft Products.

**Section B: Policy Limits & Application**
- $15,000,000 each occurrence and aggregate part of $40,000,000 excess of $40,000,000 excess of primary

**Section C: Ceding Company Retention**
- 30% ($4,500,000) of the limit stated in Section B

**Section D: Skandia's Liability Reinsurance Period and Basis of Acceptance**
- From 5/21/80 To 5/21/81
- Pro Rata

**Section E: Premium**
- **Company Gross:** $3,600
- **Skandia Gross:** $3,600
- **Commission %:** 25%
- **Audit Frequency:** Prem. Base
- **Est. Exposure Rate:** Reinsurance Period $ Certificate $ 500.

**Date:** 8/14/80
**WK:ma**

**Authorized Representative:** [Signature]