**C *T1*05/28/96*TUE1236103-00**
**0269669**

**ORIGINAL COPY**

**GREAT AMERICAN INSURANCE COMPANIES**
Subsidiaries of American Financial Corporation
580 WALNUT STREET, CINCINNATI, OHIO 45202

**GAI 6507**
**(Ed. 08 92)**

**THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY.**

**BANKRUPTCY OR INSOLVENCY ENDORSEMENT**

This endorsement modifies insurance provided under the following:

**EXCESS LIABILITY POLICY**

**SECTION III - CONDITIONS is amended as follows:**

**6. Bankruptcy or Insolvency**

In the event of bankruptcy or insolvency of any underlying insurer, the insurance afforded by this policy shall not replace such "underlying insurance," but shall apply as if the "underlying insurance" was valid and collectible.

**GAI 6507 (Ed. 08/92) XS**