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FORM 3 U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange
Act of 1934, Section 17(a) of the Public Utility Holding
Company Act of 1935 or Section 30(f) of the Investment
Company Act of 1940
1. Name and Address of Reporting Person 2. Date of Event 4. Issuer Name and Ticker or Trading Symbol
Requiring
Slaughter Bruce W. Statement Acceptance Insurance Companies Inc. (AIF)
(Last) (First) (Middle) (Month/Day/
Year)
5. Relationship of Reporting Person to 6. If Amendment,
7/1/96 Issuer Date of
Building 12, Corporate Woods (check all applicable) Original
10975 Benson Street, Suite 380 3. IRS or Social (Month/Day
(Street) Security ___ Director ___ 10% Owner Year)
Number of _X_ Officer (give ___ Other (specify
Reporting title below)
Person below
Overland Park KS 66210 (Voluntary)
(City) (State) (Zip) Senior Vice President
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Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial
Beneficially Owned Direct (D) or Ownership (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly
(Print or Type Responses)
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FORM 3 (continued) Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security 2. Date Exercisable 3. Title and Amount of Securities Underlying 4. Conversion
(Instr. 4) and Expiration Derivative Security or Exercise
Date (Instr. 4) Price of
(Month/Day/Year) Derivative
------------------- -------------------------------------------- Security
Date Expira- Amount
Exer- tion or
cisable Date Title Number
of
Shares
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Incentive Stock Option 7/1/96 7/1/06 Common Stock 75,000 *
5. Ownership Form of 6. Nature of Indirect
Derivative Security: Beneficial Ownership
Direct (D) or (Instr. 5)
Indirect (I)
(Instr. 5)
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D
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Explanation of Responses:
*The option was granted pursuant to Acceptance Insurance Companies
Inc.'s 1996 Incentive Stock Option Plan and becomes exercisable
in five equal installments beginning one year following the date
of the grant. The exercise prices for the five installments are
$17.125, $19.694, $22.648, $26,045, $29.952 and $34.445, respectively.
**Intentional misstatements or omissions of facts constitute /s/ Bruce W. Slaughter 8/8/96
Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. --------------------------------------------
78ff(a). **Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be
manually signed. If space provided is insufficient, see
Instruction 6 for procedure.
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