SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE l3D
Under the Securities Exchange Act of l934
Amendment No. 4
Intercargo Corporation
(Name of Issuer)
Common Stock, $1.00 par value
(Title of class of securities)
45844C108
(CUSIP Number)
Michael P. Maloney, Esq.
Vice President, General Counsel and Secretary
Orion Capital Corporation
600 Fifth Avenue
New York, New York 10020
(212) 332-8080
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(Name, address and telephone number of person authorized to receive
notices and communications)
Copies of all notices and communications should be sent to:
John J. McCann, Esq.
Donovan Leisure Newton & Irvine
30 Rockefeller Plaza
New York, New York l0112
May 2, 1996
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(Date of event which requires filing of this statement)
If filing person has previously filed a statement on Schedule l3G
to report the acquisition which is the subject of this statement
and is filing this statement because of Rule l3d-l(b) (3) or (4),
check the following:
Check the following box if a fee is being paid with this statement:
[]
(Continued on following pages)
Page 1 of 7 Pages
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CUSIP No.45844C108
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1) Names of Reporting Persons (a) Orion Capital Corporation
S.S. of IRS Identification IRS No. 95-6069054
Nos of Above Persons (b) Security Insurance Company
of Hartford
IRS No. 06-0529570
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2) Check the Appropriate Box if a (a)
Member of a Group (b) X
(See Instructions)
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3) SEC use Only
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4) Source of Funds (a) AF
(See Instructions) (b) WC
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5) Check if Disclosure of Legal
Proceedings are Required
Pursuant to Items 2(d) or 2(e)
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6) Citizenship or Place of (a) Delaware
Organization (b) Connecticut
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(7) Sole Voting
Number Power 1,701,684
of Shares (8) Shared Voting
Beneficially Power
Owned by (9) Sole Dispositive 1,701,684
Each Reporting Power
Person With (10) Shared Dispositive
Power
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11) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,701,684
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12) Check if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See instructions)
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13) Percent of Class Represented
by Amount in Row (11) 22.3%
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14) Type of Reporting Person (a) CO, HC
(See Instructions) (b) CO, IC
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<PAGE>
Item 1. Security and Issuer.
-------------------
This statement relates to the Common Stock, $1.00 par
value (the "Common Stock"), of Intercargo Corporation
("Intercargo"). The principal executive offices of
Intercargo are located at 1450 American Lane, Schaumburg,
Illinois 60173.
Item 2. Identity and Background.
------------------------
This statement is filed by Orion Capital Corporation
("Orion"), a Delaware corporation with its principal
executive offices at 600 Fifth Avenue, New York, New York
10020, and one of its wholly-owned subsidiaries, Security
Insurance Company of Hartford ("SICH"), a Connecticut cor-
poration. The principal offices of SICH are located at 9
Farm Springs Drive, Farmington, Connecticut 06032. Orion
owns all of the outstanding capital stock of SICH. SICH
underwrites and sells most types of property and casualty
insurance with an emphasis on commercial insurance in
specialized markets.
This statement amends Items 2, 3 and 5 of the Schedule
13D dated September 14, 1993, as amended by Amendment No.
1 dated January 3, 1994, by Amendment No. 2 dated March 2,
1995 and by Amendment No. 3 dated April 23, 1996, each
filed with the Commission by Orion and SICH, by revising
such items in accordance with the information contained
herein.
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<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
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The Intercargo Common Stock referred to in Item 5
hereof has been purchased with approximately $20,798,260
from the general investment funds of SICH.
Item 5. Interest in Securities of Issuer.
---------------------------------
According to Intercargo's Annual Report on Form 10-K for
the year ended December 31, 1995, there were 7,640,981
shares of Intercargo Common Stock outstanding as of March
21, 1996. Orion may be deemed to be the beneficial owner
of all shares of Intercargo Common Stock owned by SICH.
SICH owns 1,701,684 shares in the aggregate or
approximately 22.3% of Intercargo's Common Stock. Since
April 24, 1996, SICH purchased a total of 79,475 shares of
Intercargo Common Stock on the dates and at the prices set
forth in Appendix A hereto. All of the shares purchased by
SICH were purchased in open market transactions on NASDAQ.
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<PAGE>
Signatures
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After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.
ORION CAPITAL CORPORATION
By:/s/ Alan R. Gruber
-------------------------
Chairman of the Board and
Chief Executive Officer
SECURITY INSURANCE COMPANY OF HARTFORD
By:/s/ Alan R. Gruber
-----------------------
Chairman of the Board
Dated: May 9, 1996
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<PAGE>
APPENDICES
APPENDIX Page
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A Purchases of Intercargo 7
Common Stock by SICH
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<PAGE>
APPENDIX A
Purchases of Intercargo Common Stock by SICH
Number of Price Per Share
Date Shares (including commission
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4/24/96 3,000 $ 9.30
4/25/96 13,000 9.2231
4/26/96 9,000 9.30
4/29/96 10,000 9.30
4/30/96 22,651 9.2743
5/01/96 10,000 9.30
5/02/96 10,824 8.8693
5/08/96 1,000 9.175
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