icat.com

International Catastrophe Insurance Managers, LLC ("ICAT") was formed as an Underwriting Manager in 1998 and is headquartered in Boulder, Colorado. ICAT specializes in providing commercial catastrophe insurance coverage to businesses located in catastrophe-exposed regions of the United States. ICAT utilizes sophisticated catastrophe simulation software products that enable it to forecast loss amounts, and the probability of those losses, based upon the risk characteristics of the properties insured. Factors such as the proximity of the risk to active seismic faults, the soil conditions at the location of the property, construction quality, the distance of the property to hurricane-exposed coastlines and other relevant underwriting characteristics are considered. Proprietary "Concentration of Risk" tools have been developed by ICAT to ensure that a conservative spread of risk is maintained. ICAT is an industry leader in catastrophe underwriting and research and is staffed with individuals who are recognized as experts in catastrophe insurance products. Concurrent with the development of its underwriting and pricing tools, ICAT designed and built an Internetbased operating platform (www.icat.com) to:communicate with its sales force; collect underwriting and exposure data; process policies, endorsements and billings; maintain data; and produce relevant and real time management reports. ICAT's service performance, measured by speed and accuracy, is viewed as "state-of-the-art" and is being emulated by the insurance industry. The efficiency derived from the platform enables ICAT to operate at expense levels significantly below industry averages.

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