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USD ($)

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   &lt;!-- Begin Block Tagged Note 10 - navg:FiduciaryFundsTextBlock--&gt;
   &lt;div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "&gt;
   &lt;div align="justify" style="font-size: 10pt; margin-top: 10pt"&gt;&lt;b&gt;Note 10. Fiduciary Funds&lt;/b&gt;
   &lt;/div&gt;
   &lt;div align="justify" style="font-size: 10pt; margin-top: 10pt"&gt;Prior to 2006, the underwriting agencies managed insurance pools in which Navigators Insurance
   Company participated. Functions performed by the underwriting agencies included underwriting
   business, collecting premiums from the insured, paying claims, collecting paid recoverables from
   reinsurers, paying reinsurance premiums to reinsurers and remitting net account balances to member
   insurance companies. Funds received by the Company belonging to non-related participants in the
   former insurance pools are not material. They are held in a fiduciary capacity and are included in
   the accompanying consolidated balance sheets.
   &lt;/div&gt;
   &lt;/div&gt;
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