Document wDOn2YgqoL0bjEV3yz5EgdX9J

r Hanson Industries 100 Wood Avenue South, Iselin, N.J. 08830 Telephone (201) 549-7050 Telex 844403 June 18, 1987 Me* Joe Zavagnin Fred S. James & Co. 40 Broad Street Boston, MA 02109 Re: Exceaa liability Insurance - Umbrella Dear Joe: I recently received a copy of St. Paul's "Rip and Tear Exclusion" and thought it would be advisable to review the various other excess liability policies to be certain that if they did not have this particular exclusion that they could have other exclusions which could be interpreted to have similar meaning. For your information, I am attaching a copy of a memo from Anthony Ferrara to rae dated June 17 regarding the National Union Fire Insurance Company's policy which is self-explanatory. Please let us have your comments regarding Anthony's memo when convenient. Attachment cc: D.L. Schoenewolf A.R. Ferrara \ Hanson Trust CVtmnsnv N17579