Summary of CRM HOLDINGS, LTD.

Item 8.01 Other Events.

On July 18, 2008, CRM Holdings, Ltd. (the "Company") issued a news release announcing that A.M. Best Co. removed from under review and affirmed the financial strength rating of A- (Excellent) of the Company's wholly owned primary insurance subsidiary, Majestic Insurance Co. In addition, A.M. Best removed from under review and assigned a rating of B++ to the Company's reinsurance subsidiary, Twin Bridges Ltd.

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.