American Hallmark Insurance Co. Of Texas provides property, causality, and automobile insurance services. The company is based in Fort Worth, Texas. American Hallmark Insurance Co. Of Texas operates as subsidiary of American Hallmark General Agency, Inc.
777 Main Street
Fort Worth, TX 79102
American Economy Insurance Co. Files a Lawsuit Against American Hallmark Insurance Co. of Texas
Mar 3 14
American Economy Insurance Co. filed a lawsuit against American Hallmark Insurance Co. of Texas seeking contribution for defense costs in connection with an underlying construction defects case. American Economy's lawsuit alleges both insurers issued commercial general liability policies to A&M Glass. The underlying lawsuit filed by a condominium association named A&M Glass as a defendant and alleged construction defects on a project to renovate a condominium complex. American Economy claims it initiated a defense, but American Hallmark refused to participate in the defense. The lawsuit seeks a declaration that American Hallmark is required to defend A&M Glass.
Hallmark Financial Services Inc. and its Subsidiaries Enter Tenth Amendment to First Restated Credit Agreement
Oct 1 12
Hallmark Financial Services Inc. and each of its subsidiaries American Hallmark Insurance Co. Of Texas and Hallmark Insurance Company entered into a Tenth Amendment to First Restated Credit Agreement with Frost Bank effective as of September 30, 2012. The Tenth Amendment extends the termination date of the credit facilities to April 30, 2015, and amends certain covenants. Borrower, AHIC, HIC, and Lender have previously entered into the First Restated Credit Agreement dated as of January 27, 2006. Borrower has requested an extension of the Termination Date and other amendments to the Credit Agreement. Lender has agreed to amend the Credit Agreement, subject to the terms of this Tenth Amendment. Amendments to Credit Agreement Section 1.1: the definition of ‘Revolving Facility L/C Expiration Date’ is amended by deleting ‘September 30, 2012’ and substituting ‘April 30, 2015’ in lieu thereof; the definition of ‘Termination Date’ is deleted and the following is substituted in lieu thereof: ‘Termination Date’ means April 30, 2015. Amendment to Credit Agreement Section 2.3: Credit Agreement Section 2.3 is deleted and the following is substituted in lieu thereof: Repayment. The unpaid principal of all Revolving Loan shall be due and payable on the Revolving Loan Maturity Date; Amendment to Credit Agreement Section 2.4. The last sentence of Credit Agreement Section 2.4 is deleted; Amendment to Credit Agreement Section 2.5. The parenthetical in the first sentence of Credit Agreement Section 2.5 is deleted; Amendment to Credit Agreement Section 2.10(d). The parenthetical in Section 2.10(d)(v) is deleted; Amendment to Credit Agreement Section 2.13. Credit Agreement Section 2.13 is deleted and the following is substituted in lieu thereof: Usage Fee. For so long as the Revolving Commitment is in effect, Borrower shall pay to Lender a fee on each Payment Date, commencing with October 1, 2012. The Usage Fee is equal to a per annum rate of 0.25% multiplied by the actual daily amount by which the Revolving Commitment exceeds the Revolving Facility Outstanding Amount. The Usage Fee shall be calculated quarterly in arrears and shall accrue regardless of whether any condition in Article V has been satisfied. Subject to Section 10.11, the Usage Fee shall be fully earned when paid and is not refundable; 2.7 Amendment to Credit Agreement Section 7.3. Credit Agreement Section 7.3 is deleted and the following is substituted in lieu thereof: 7.3 Combined Ratio. Borrower shall not permit the Combined Ratio, determined as at the last day of any fiscal quarter of Borrower, to be greater than 103%; 2.8 Amendment to Credit Agreement Exhibit J. Credit Agreement Exhibit J (Compliance Certificate), in the form of Exhibit J to this Tenth Amendment, is substituted in lieu thereof.