Letter to Audit Committee

The Audit Committee of FHM Insurance Company reviewed the Company’s audited financial statements for the year ending December 31, 2009. The Committee reviewed and discussed the financial statements with management which has primary responsibility for the financial statements.

The Audit Committee received from its external accountants the written disclosures required by Independence Standards Board Standard No. 1 (Independence Discussions with Audit Committees) which confirm, in their professional judgment, that the external accountants are independent of the Company and the Audit Committee. The Audit Committee also met with the Company’s external auditors, with and without management present, to discuss the Company’s audited financial statements, the external auditor’s judgments of the quality of the accounting principles applied to the audit, the significant judgments affecting the Company’s financial statements, and other matters required to be discussed by Statement on Auditing Standards No. 114 (The Auditor’s Communication with Those Charged With Governance).

Based on our review and discussions referred to above, the Audit Committee recommended to the Company’s Board of Directors, and the Board approved, including condensed statutory statements of the audited financial statements in the Company’s Annual Report. The foregoing report is provided by the following directors who constitute the Audit Committee:

FHM Insurance Annual Report Flow

The foregoing report is provided by the following directors who constitute the Audit Committee:

George D. Gabel, Jr.
Chairman

Walter L. Banks
Member

Mary Ann Richardson
Member

Joseph G. Seay
Member

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