SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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): February 28, 2006

                               Delta Mutual, Inc.
               (Exact name of registrant as specified in charter)

         Delaware                                               000-30563
(State or other jurisdiction                            (Commission File Number)
 of  incorporation)

111 North Branch Street, Sellersville, Pennsylvania                     18960
-----------------------------------------------------                  --------
(Address of principal executive offices)                              (Zip Code)

Registrant's telephone number, including area code: (215) 258-2800


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 (see General Instruction A.2. below):

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d -2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e -4(c))

                                     Page 1

<PAGE>

Item 1.01. Entry into a Material Definitive Agreement.

On February 28, 2006, the Company entered into a new executive employment
agreement, effective March 11, 2006, with Peter F. Russo to serve as its
President and Chief Executive officer for a term of three years. The agreement
provides for a base salary of $180,000 per year, but until the Board of
Directors determines that the financial condition of the Company permits the
payment of that salary, the minimum salary to be paid to Mr. Russo is $6,500 per
month. The agreement contains provisions for discharge for "cause," including
disability, in which case no further compensation or benefits would be payable
under the agreement. If termination is other than for death or "cause," the base
salary is continued for six months following the termination of employment, or
until the time that Mr. Russo commences other full time employment. The
agreement contains a provision for additional compensation to Mr. Russo if his
employment is terminated without "cause" due to a change in control.

FOR THE FULL TERMS OF THE EXECUTIVE EMPLOYMENT AGREEMENT, PLEASE REFER TO THE
COPY OF THE AGREEMENT FILED AS EXHIBIT 10.32 TO THIS REPORT.



   Item 9.01 Financial Statements and Exhibits.

      (c) Exhibits

      No.      Description of Exhibit
      ---      ----------------------

      10.32    Executive Employment Agreement, dated February 28, 2006, between
               Delta Mutual, Inc. and Peter F. Russo.

                                     Page 2

<PAGE>

                                   Signatures

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

                               Delta Mutual, Inc.


Date: March 1, 2006
                                By: /s/ Peter F. Russo
                                -------------------------------------
                                Peter F. Russo,
                                President and Chief Executive Officer

                                     Page 3
{"company-data": {"conformed-name": "DELTA MUTUAL INC", "cik": "0001112985", "assigned-sic": "7389", "irs-number": "141818394", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-30563", "film-number": "06656298"}, "business-address": {"street1": "111 NORTH BRANCH STREET", "city": "SELLERSVILLE", "state": "PA", "zip": "18960", "phone": "2152582800"}, "mail-address": {"street1": "111 NORTH BRANCH STREET", "city": "SELLERSVILLE", "state": "PA", "zip": "18960"}}
SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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): February 28, 2006

                               Delta Mutual, Inc.
               (Exact name of registrant as specified in charter)

         Delaware                                               000-30563
(State or other jurisdiction                            (Commission File Number)
 of  incorporation)

111 North Branch Street, Sellersville, Pennsylvania                     18960
-----------------------------------------------------                  --------
(Address of principal executive offices)                              (Zip Code)

Registrant's telephone number, including area code: (215) 258-2800

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 (see General Instruction A.2. below):

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d -2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e -4(c))

                                     Page 1
Item 1.01. Entry into a Material Definitive Agreement.

On February 28, 2006, the Company entered into a new executive employment
agreement, effective March 11, 2006, with Peter F. Russo to serve as its
President and Chief Executive officer for a term of three years. The agreement
provides for a base salary of $180,000 per year, but until the Board of
Directors determines that the financial condition of the Company permits the
payment of that salary, the minimum salary to be paid to Mr. Russo is $6,500 per
month. The agreement contains provisions for discharge for "cause," including
disability, in which case no further compensation or benefits would be payable
under the agreement. If termination is other than for death or "cause," the base
salary is continued for six months following the termination of employment, or
until the time that Mr. Russo commences other full time employment. The
agreement contains a provision for additional compensation to Mr. Russo if his
employment is terminated without "cause" due to a change in control.

FOR THE FULL TERMS OF THE EXECUTIVE EMPLOYMENT AGREEMENT, PLEASE REFER TO THE
COPY OF THE AGREEMENT FILED AS EXHIBIT 10.32 TO THIS REPORT.

   Item 9.01 Financial Statements and Exhibits.

      (c) Exhibits

      No.      Description of Exhibit
      ---      ----------------------

      10.32    Executive Employment Agreement, dated February 28, 2006, between
               Delta Mutual, Inc. and Peter F. Russo.

                                     Page 2
Signatures

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

                               Delta Mutual, Inc.

Date: March 1, 2006
                                By: /s/ Peter F. Russo
                                -------------------------------------
                                Peter F. Russo,
                                President and Chief Executive Officer

                                     Page 3