<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">



<DIV style="font-size: 10pt">
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): April 3, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>The Navigators Group, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>0-15886</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>13-3138397</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>One Penn Plaza, New York, NY <BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>10119</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(914) 934-8999</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;1.01.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Entry Into A Material Definitive Agreement</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 5%">On April&nbsp;3, 2009, the Company entered into a $75&nbsp;million credit facility agreement entitled &#147;Fourth Amended and
Restated Credit Agreement&#148; with JPMorgan Chase Bank, N.A., as Administrative Agent, and a syndicate of lenders. The
credit facility is a letter of credit facility. This new credit facility replaced a $200&nbsp;million credit facility
consisting of $180&nbsp;million letter of credit facility and a $20&nbsp;million revolving line of credit facility that expired
by its terms on March&nbsp;31, 2009. The credit facility will continue to be used primarily to support the Company&#146;s
capacity at its Lloyd&#146;s of London operations.


<P align="left" style="font-size: 10pt; text-indent: 4%">The credit facility contains customary covenants for facilities of this type, including restrictions on
indebtedness and liens, limitations on mergers, dividends and the sale of assets, and requirements as to maintaining
certain consolidated tangible net worth, statutory surplus and other financial ratios. The credit facility also
provides for customary events of default, including failure to pay principal, interest or fees when due, failure to
comply with covenants, any representation or warranty made by the Company being false in any material respect, default
under certain other indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries,
the occurrence of certain material judgments, or a change in control of the Company. The credit facility expires on
April&nbsp;2, 2010. The foregoing description of the credit facility is qualified by reference to the full text of the
credit facility, which is attached hereto as Exhibit&nbsp;10.1.


<P align="left" style="font-size: 10pt; text-indent: 4%">The Administrative Agent and the Lenders under the credit facility and their respective affiliates have various
relationship with the Company and its subsidiaries, including the Administrative Agent acting as trustee for the
Company&#146;s senior unsecured debt.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;2.03.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Creation of a Direct Financial Obligation or an Obligation Under and Off-Balance Sheet Arrangement</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">See Item&nbsp;1.01 above.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;9.01.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt"><B>(d)&nbsp;Exhibits</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fourth Amended and Restated Credit Agreement among the Company and the Lenders</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">


2
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 3%">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.



<P align="left" style="margin-left:46%; font-size: 10pt">THE NAVIGATORS GROUP, INC.



<P align="left" style="margin-left:46%; font-size: 10pt">By: <u>/s/ Emily B. Miner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>
Name: Emily B. Miner<BR>
Title: Secretary<BR>


<P align="left" style="font-size: 10pt">Date: April&nbsp;7, 2009

<P align="center" style="font-size: 10pt">3
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fourth Amended and Restated Credit Agreement among the Company
and the Lenders</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">4
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">4




</DIV>
</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "c83658e8vk.htm", "description": "FORM 8-K", "secsgml_size_bytes": 10436}]
{"company-data": {"conformed-name": "NAVIGATORS GROUP INC", "cik": "0000793547", "assigned-sic": "6331", "irs-number": "133138397", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-15886", "film-number": "09737904"}, "business-address": {"street1": "ONE PENN PLAZA", "street2": "55TH FL", "city": "NEW YORK", "state": "NY", "zip": "10119", "phone": "2122442333"}, "mail-address": {"street1": "ONE PENN PLAZA 55TH FL", "city": "NEW YORK", "state": "NY", "zip": "10119"}}
Form 8-K
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): April 3, 2009
The Navigators Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware
0-15886
13-3138397
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
One Penn Plaza, New York, NY
10119
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(914) 934-8999
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry Into A Material Definitive Agreement
On April 3, 2009, the Company entered into a $75 million credit facility agreement entitled "Fourth Amended and
Restated Credit Agreement" with JPMorgan Chase Bank, N.A., as Administrative Agent, and a syndicate of lenders. The
credit facility is a letter of credit facility. This new credit facility replaced a $200 million credit facility
consisting of $180 million letter of credit facility and a $20 million revolving line of credit facility that expired
by its terms on March 31, 2009. The credit facility will continue to be used primarily to support the Company's
capacity at its Lloyd's of London operations.
The credit facility contains customary covenants for facilities of this type, including restrictions on
indebtedness and liens, limitations on mergers, dividends and the sale of assets, and requirements as to maintaining
certain consolidated tangible net worth, statutory surplus and other financial ratios. The credit facility also
provides for customary events of default, including failure to pay principal, interest or fees when due, failure to
comply with covenants, any representation or warranty made by the Company being false in any material respect, default
under certain other indebtedness, certain insolvency or receivership events affecting the Company and its subsidiaries,
the occurrence of certain material judgments, or a change in control of the Company. The credit facility expires on
April 2, 2010. The foregoing description of the credit facility is qualified by reference to the full text of the
credit facility, which is attached hereto as Exhibit 10.1.
The Administrative Agent and the Lenders under the credit facility and their respective affiliates have various
relationship with the Company and its subsidiaries, including the Administrative Agent acting as trustee for the
Company's senior unsecured debt.
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation Under and Off-Balance Sheet Arrangement
See Item 1.01 above.
Item 9.01.
Financial Statements and Exhibits
(d) Exhibits
10.1
Fourth Amended and Restated Credit Agreement among the Company and the Lenders
2
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.
THE NAVIGATORS GROUP, INC.
By:
/s/ Emily B. Miner
Name: Emily B. Miner
Title: Secretary
Date: April 7, 2009
3
EXHIBIT INDEX
Exhibit No.
Exhibit
10.1
Fourth Amended and Restated Credit Agreement among the Company
and the Lenders
4