Summary of CRM HOLDINGS, LTD.

Item 8.01 Other Events.

On June 18, 2008, CRM Holdings, Ltd. issued a news release announcing that its wholly-owned subsidiary Compensation Risk Managers of California, LLC ("CRM CA") has signed a five-year contract extension with Contractors Access Program of California, Inc. ("CAP"), a self-insured group managed by CRM CA. Under terms of the agreement, CRM CA will continue to manage CAP for a five-year term beginning July 1, 2008, and running through June 30, 2013. The agreement also calls for a 10% increase in CRM CA's annual management fee from the program. In addition, CRM CA has agreed to contribute towards CAP's September 2006 settlement with its previous program manager. This resolution will consist of five annual payments by CRM CA of $400,000 commencing on July 1, 2009.

A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item 8.01, including Exhibit 99.1, will not be treated as filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section. This information will not be incorporated by reference into a filing under the Securities Act of 1933, or into another filing under the Exchange Act, unless that filing expressly refers to specific information in this Report. The furnishing of the information in this Item 8.01 is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information in this Item 8.01 is material information that is not otherwise publicly available.