FLORIDA LEAGUE
OF FINANCIAL
INSTITUTIONS

P.O. Box 2246, Orlando, Florida 32801
825 Carland Ave., Suite 200 (407) 425-0581

William D. Hussey, President

May 29, 1992

Ralph Lancaster, President
The Lancaster Group
2800 N. Atlantic Avenue, #16
Daytona Beach, FL 32118

Re: Group Insurance Coverage

Dear Ralph:

As you are aware, the Florida League of Financial Institutions' Group
Insurance Program will be transferring coverage to Mutual of Omaha as of June
1, 1992. One of the requirements dictated by the new carrier was the
collection and acceptance of health questionnaires from the employees of each
group with less than 75 lives. 

Unfortunately, due to Mutual of Omaha's decision to evaluate the overall
health risk of each League participant separately, the Lancaster Group has
been declined for life and health insurance for reasons attributable to
adverse medical conditions.  

As the normal effective date of renewal coverage for the Travelers program in 
January 1, 1993, I am prepared to direct on your behalf Alexander & Alexander
to negotiate with the Travelers in an attempt to maintain your contract with
the Travelers. If they are successful, this will mean that your current level 
coverage and rates will continue unaffected on an individual stand-alone basis 
until January 1, 1993. We will also be pleased at that time to ask Mutual of 
Omaha to reassess the health status of your group in an effort to have you 
rejoin the League program. 

Ralph, we are pleased that the Lancaster Group has been able to participate in 
the League Group Insurance Program for a long period of time. We regret that
the continuing restriction of underwriting policies in the marketplace has
made it impossible for you to continue with us at this time. We are hopeful
that you will be able to rejoin us at some point in the future. 

Again, please notify me immediately if you would like me to direct A&A to 
attempt to negotiate a continuance of your existing contract with the
Travelers. You may also contact the League's benefits representative, Andrew
Thiele of Alexander & Alexander (813-273-5512) if you have questions about
this action by Mutual of Omaha.

Best regards,

William D. Hussey
President

WDH/cd
052992
01-01470