UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                           Washington, D. C. 20549

                                   FORM 8-K

                                CURRENT REPORT

    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



     Date of Report (Date of earliest event reported):  October 10, 2003


                      HALLMARK FINANCIAL SERVICES, INC.
                      ---------------------------------
            (Exact name of registrant as specified in its charter)



            Nevada                  0-16090                87-0447375
 ----------------------------     -----------          -------------------
 (State or other jurisdiction     (Commission             (IRS Employer
       of incorporation)          File Number)         Identification No.)



   777 West Main Street, Suite 1000, Fort Worth, Texas           76102
   ---------------------------------------------------        ----------
        (Address of principal executive offices)              (Zip Code)



    Registrant's telephone number, including area code:  (817) 348-1600



                                Not Applicable
        --------------------------------------------------------------
        (Former name or former address, if changed since last report.)



 Item 4.  Changes in Registrant's Certifying Accountant.

      On October 10,  2003, the  Registrant dismissed  PricewaterhouseCoopers
 LLP  ("PWC")  as  its independent accountants and retained KPMG LLP ("KPMG")
 as its  new independent  accountants  to audit  the  Registrant's  financial
 statements for the  fiscal year ended  December 31, 2003.   The decision  to
 change independent accountants was  approved by the  Audit Committee of  the
 Registrant.

      PWC's reports on the Registrant's  financial statements for the  fiscal
 years ended December 31, 2002 and 2001 did not contain an adverse opinion or
 disclaimer  of  opinion,  nor  were  they   qualified  or  modified  as   to
 uncertainty, audit scope or accounting principles.  During the  Registrant's
 two most recent  fiscal years and  through October 10,  2003, there were  no
 disagreements with PWC on any matter of accounting principles or  practices,
 financial statement disclosure, or auditing scope or procedure which, if not
 resolved to PWC's  satisfaction, would have  caused them  to make  reference
 thereto in  connection  with their  reports  on the  Registrant's  financial
 statements.

      During the  Registrant's  two  most recent  fiscal  years  and  through
 October 10, 2003, there  have been no reportable  events as defined in  Item
 304(a)(1)(iv)(B) of Regulation S-B.

      During the  Registrant's  two  most recent  fiscal  years  and  through
 October 10, 2003, the Registrant has  not consulted with KPMG regarding  any
 of the  matters  or  events  set  forth  in  Item 304(a)(2)(i)  and  (ii) of
 Regulation S-B.

      The  Registrant  has  provided  PWC  with  a  copy  of  the   foregoing
 disclosures and has requested that PWC review such disclosures and provide a
 letter addressed to the Securities  and Exchange Commission stating  whether
 they agree with such statements.  A copy of PWC's letter in response to such
 request is attached hereto as Exhibit 16.


 Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

 (c)      Exhibits.

          16    Letter from PricewaterhouseCoopers LLP to Securities and
                Exchange Commission dated October 15, 2003.



                                  SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
 the Registrant has duly caused this report to be signed on its behalf by the
 undersigned hereunto duly authorized.


                               HALLMARK FINANCIAL SERVICES, INC.


 Date:  October 17, 2003       By: /s/ Scott K. Billings
                               ----------------------------------------------
                               Scott K. Billings, Its Chief Financial Officer