Services.amerisafe.com



2301 Hwy. 190 West

DeRidder, LA 70634

TELEPHONE: (337) 460-3675

WATS: 800-256-9052

FAX: (337) 460-3685

November 20, 2009

RE: AMERISAFE, Inc. 401k, Plan # 41108 - Annual QDIA Notice

You are receiving this notice because you may have contributions that are currently being invested in, or you may have a balance in, the Plan designated fund, your age appropriate Fidelity Freedom Fund. Under the Plan, any contributions for which you do not provide investment direction will be invested in the Plan designated fund. Below is a description of this fund as well as fee information.

Additionally, you may also have a balance in the Plan’s previous designated fund Fidelity Retirement Government Money Market Portfolio. Below is a description of the Plan’s current fund and the previous designated fund as well as fee information for each of the funds.

Eligible participants who do not enroll themselves in the Plan are automatically enrolled, unless they elect not to participate pursuant to the Plan’s “opt-out process”. If you are automatically enrolled, before-tax contributions are made on your behalf to the Plan at a rate of 4 of eligible compensation, and have been, or will be invested in the Plan Designated Fund. You have the right to change your contribution percentage, as well elect to discontinue contributions to the Plan altogether.

If you are automatically enrolled in the Plan you are also automatically enrolled in an annual increase program (AIP), which automatically increases the percentage of your contribution to the Plan annually up to 10 maximum, your Plan’s established AIP Cap. You may also change the amount of your automatic increase amount, (but not less than 1%) or un-enroll from AIP at any time. If you are eligible for this provision details will be provided under separate cover.

You have the right under the Plan to direct the investment of your existing balances and future contributions to any of the Plan’s available investment options, including the right to transfer out of the Plan designated fund to another investment option. Unless you provide alternative direction, your contributions and/or the portion of your account that is currently invested in the Plan designated fund will continue to be invested in this option.

To obtain information about other plan investment options, please log onto NetBenefits® at or call 1-800-835-5097 to speak to a representative. You may also make changes to your investment elections for future contributions and/or exchange all or a portion of your existing balance into other options available under the Plan via NetBenefits or by phone. We encourage you to review your investment mix and deferral percentage and update as appropriate.

|Plan’s Previous Default Fund: Fidelity Retirement Government Money Market Portfolio (0631) |

| |

|What It Is:   |A money market mutual fund. |

|Goal:   |Seeks to provide as high a level of current income as is consistent with the preservation of |

| |principal and liquidity. |

|What it invests in:   |Primarily invests at least 80% of its assets in U.S. Government securities and repurchase |

| |agreements for those securities. The fund may also enter into reverse repurchase agreements. |

| |Fidelity Management & Research Company (FMR) complies with industry standard requirements for |

| |money market funds regarding quality, maturity, and diversification of the fund's investments. An|

| |investment in this portfolio is not guaranteed or insured by the FDIC or any other government |

| |agency. Although this money market fund seeks to preserve the value of your investment at $1 per |

| |share, it is possible to lose money by investing in this fund. Yield will vary. |

|Who may want to invest:   |• Someone who is interested in balancing an aggressive portfolio with an investment that seeks |

| |to provide stability of principal. |

| |• Someone who anticipates using a portion of this money soon, possibly for retirement income, |

| |and who is looking for the value of the investment to remain stable. |

| |  |

|Footnotes:   | |

Gross Expense information as of 10/30/2009: 0.44%

Plan’s Current Default Fund:

|Fund Name |Retirement Date Range |Date of Birth Range |

| |(assuming a retirement age of 65) | |

|Fidelity Freedom Income Fund ® |Retired before 1998 | |

|Fidelity Freedom 2000 Fund® |1998-2002 |1/1/1933 - 12/31/1937 |

|Fidelity Freedom 2005 Fund® |2003-2007 |1/1/1938 - 12/31/1942 |

|Fidelity Freedom 2010 Fund® |2008-2012 |1/1/1943 - 12/31/1947 |

|Fidelity Freedom 2015 Fund® |2013-2017 |1/1/1948 - 12/31/1952 |

|Fidelity Freedom 2020 Fund® |2018-2022 |1/1/1953 - 12/31/1957 |

|Fidelity Freedom 2025 Fund® |2023-2027 |1/1/1958 - 12/31/1962 |

|Fidelity Freedom 2030 Fund® |2028-2032 |1/1/1963 - 12/31/1967 |

|Fidelity Freedom 2035 Fund® |2033-2037 |1/1/1968 - 12/31/1972 |

|Fidelity Freedom 2040 Fund® |2038-2042 |1/1/1973 - 12/31/1977 |

|Fidelity Freedom 2045 Fund® |2043-2047 |1/1/1978 - 12/31/1982 |

|Fidelity Freedom 2050 Fund® |2048 and later |1/1/1983 and later |

|Fund Name |Description |Gross Expense |

| |(Also see text above for overview of Freedom funds and their goals) |Ratio* as of |

| | |8/31/2009 |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. The funds' manager selects |0.48% |

|Freedom Income |underlying funds from those named in the fund's prospectus. Each underlying Fidelity mutual fund is separately | |

|Fund® |managed in accordance with its own investment objective, and depending on that objective, may invest in domestic| |

| |and foreign equities, investment grade and/or high yield fixed-income securities and short-term investments. | |

| |Fidelity Freedom Income Fund invests approximately 35% in investment grade fixed income funds, 5% in high yield | |

| |fixed income funds, 40% in mutual funds with short-term investments goals, and 20% in domestic equity funds. The| |

| |fund is subject to the volatility of the financial markets, including equity and fixed income investments. Fixed| |

| |income investments entail issuer default and credit risk, inflation risk and interest rate risk (as interest | |

| |rates rise, bond prices usually fall and vice versa). This effect is usually pronounced for longer. Principal | |

| |invested is not guaranteed at any time, including at or after the fund's target retirement date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.49% |

|Freedom 2000 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2000 Fund invests approximately 22% in domestic equity funds, 33% in investment | |

| |grade fixed income funds, 5% in high yield fixed-income funds and 40% in short-term investment mutual funds. The| |

| |fund's current and/or projected target asset allocation percentages are also available in the fund's fact sheet,| |

| |prospectus and annual and semi-annual reports. The fund's manager selects underlying funds from those named in | |

| |the fund's prospectus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio | |

| |manager(s) in accordance with its own investment objective, and depending on that objective, may invest in | |

| |domestic and foreign equities, investment grade and/or high yield fixed-income securities and short-term | |

| |investments. The investment risks of this fund changes over time as its asset allocation changes. It is subject | |

| |to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad| |

| |and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal| |

| |invested is not guaranteed at any time, including at or after the fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.63% |

|Freedom 2005 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2005 Fund invests approximately 38% in domestic equity funds, 8% in international | |

| |equity funds, 33% in investment grade fixed income funds, 5% in high yield fixed income funds and 17% in | |

| |short-term investment mutual funds. The fund's current and/or projected target asset allocation percentages are | |

| |also available in the fund's fact sheet, prospectus and annual and semi-annual reports. The fund's manager | |

| |selects underlying funds from those named in the fund's prospectus. Each underlying Fidelity mutual fund is | |

| |separately managed by its applicable portfolio manager(s) in accordance with its own investment objective, and | |

| |depending on that objective, may invest in domestic and foreign equities, investment grade and/or high yield | |

| |fixed-income securities and short-term investments. The investment risks of this fund changes over time as its | |

| |asset allocation changes. It is subject to the volatility of the financial markets, including equity and fixed | |

| |income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, | |

| |small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after the | |

| |fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.64% |

|Freedom 2010 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2010 Fund invests approximately 40% in domestic equity funds, 10% in international| |

| |equity funds, 35% in investment grade fixed income funds, 5% in high yield fixed income funds and 11% in | |

| |short-term investment mutual funds. The fund's current and/or projected target asset allocation percentages are | |

| |also available in the fund's fact sheet, prospectus and annual and semi-annual reports. The fund's manager | |

| |selects underlying funds from those named in the fund's prospectus. Each underlying Fidelity mutual fund is | |

| |separately managed by its applicable portfolio manager(s) in accordance with its own investment objective, and | |

| |depending on that objective, may invest in domestic and foreign equities, investment grade and/or high yield | |

| |fixed-income securities and short-term investments. The investment risks of this fund changes over time as its | |

| |asset allocation changes. It is subject to the volatility of the financial markets, including equity and fixed | |

| |income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, | |

| |small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after the | |

| |fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.67% |

|Freedom 2015 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2015 Fund invests approximately 42% in domestic equity funds, 10% in international| |

| |equity funds, 34% in investment grade fixed income funds, 5% in high yield fixed income funds, and 9% in | |

| |short-term investment mutual funds. The fund's current and/or projected target asset allocation percentages are | |

| |also available in the fund's fact sheet, prospectus and annual and semi-annual reports. The fund's manager | |

| |selects underlying funds from those named in the fund's prospectus. Each underlying Fidelity mutual fund is | |

| |separately managed by its applicable portfolio manager(s) in accordance with its own investment objective, and | |

| |depending on that objective, may invest in domestic and foreign equities, investment grade and/or high yield | |

| |fixed-income securities and short-term investments. The investment risks of this fund changes over time as its | |

| |asset allocation changes. It is subject to the volatility of the financial markets, including equity and fixed | |

| |income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, | |

| |small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after the | |

| |fund's target date | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.72% |

|Freedom 2020 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2020 Fund invests approximately 51% in domestic equity funds, 13% in international| |

| |equity funds, 27% in investment grade fixed income funds, 7% in high yield fixed income funds, and 2% in | |

| |short-term investment mutual funds. The fund's current and/or projected target asset allocation percentages are | |

| |also available in the fund's fact sheet, prospectus and annual and semi-annual reports. The fund's manager | |

| |selects underlying funds from those named in the fund's prospectus. Each underlying Fidelity mutual fund is | |

| |separately managed by its applicable portfolio manager(s) in accordance with its own investment objective, and | |

| |depending on that objective, may invest in domestic and foreign equities, investment grade and/or high yield | |

| |fixed-income securities and short-term investments. The investment risks of this fund changes over time as its | |

| |asset allocation changes. It is subject to the volatility of the financial markets, including equity and fixed | |

| |income investments in the U.S. and abroad and may be subject to risks associated with investing in high yield, | |

| |small cap and foreign securities. Principal invested is not guaranteed at any time, including at or after the | |

| |fund's target date. | |

|Fidelity |Each Freedom fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.74% |

|Freedom 2025 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years, until the asset mix is approximately | |

| |the same as that of the Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into | |

| |the Freedom Income Fund. Fidelity Freedom 2025 Fund invests approximately 56% in domestic equity funds, 14% in | |

| |international equity funds, and 31% in bond funds. The fund's current and/or projected target asset allocation | |

| |percentages are also available in the fund's fact sheet, prospectus, and annual and semiannual reports. The | |

| |fund's manager selects underlying funds from those named in the fund's prospectus. Each underlying Fidelity | |

| |mutual fund is separately managed by its applicable portfolio manager(s) in accordance with its own investment | |

| |objective and, depending on that objective, may invest in domestic and foreign equities, investment-grade and/or| |

| |high-yield fixed-income securities, and short-term investments. The investment risk of this fund changes over | |

| |time as its asset allocation changes. The fund is subject to the volatility of the financial markets, including | |

| |that of equity and fixed-income investments in the U.S. and abroad, and may be subject to risks associated with | |

| |investing in high-yield, small-cap and foreign securities. Principal invested is not guaranteed at any time, | |

| |including at or after the fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.76% |

|Freedom 2030 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2030 Fund invests approximately 62% in domestic equity funds, 16% in international| |

| |equity funds, 15% in investment grade fixed income funds and 8% in high yield fixed income funds. The fund's | |

| |current and/or projected target asset allocation percentages are also available in the fund's fact sheet, | |

| |prospectus and annual and semi-annual reports. The fund's manager selects underlying funds from those named in | |

| |the fund's prospectus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio | |

| |manager(s) in accordance with its own investment objective, and depending on that objective, may invest in | |

| |domestic and foreign equities, investment grade and/or high yield fixed-income securities and short-term | |

| |investments. The investment risks of this fund changes over time as its asset allocation changes. It is subject | |

| |to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad| |

| |and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal| |

| |invested is not guaranteed at any time, including at or after the fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.78% |

|Freedom 2035 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2035 Fund invests approximately 66% in domestic equity funds, 17% in international| |

| |equity funds, 10% in investment grade fixed income funds and 8% in high yield fixed income funds. The fund's | |

| |current and/or projected target asset allocation percentages are also available in the fund's fact sheet, | |

| |prospectus and annual and semi-annual reports. The fund's manager selects underlying funds from those named in | |

| |the fund's prospectus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio | |

| |manager(s) in accordance with its own investment objective, and depending on that objective, may invest in | |

| |domestic and foreign equities, investment grade and/or high yield fixed-income securities and short-term | |

| |investments. The investment risks of this fund changes over time as its asset allocation changes. It is subject | |

| |to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad| |

| |and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal| |

| |invested is not guaranteed at any time, including at or after the fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.79% |

|Freedom 2040 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2040 Fund invests approximately 67% in domestic equity funds, 17% in international| |

| |equity funds, 7% in investment grade fixed income funds and 9% in high yield fixed income funds. The fund's | |

| |current and/or projected target asset allocation percentages are also available in the fund's fact sheet, | |

| |prospectus and annual and semi-annual reports. The fund's manager selects underlying funds from those named in | |

| |the fund's prospectus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio | |

| |manager(s) in accordance with its own investment objective, and depending on that objective, may invest in | |

| |domestic and foreign equities, investment grade and/or high yield fixed-income securities and short-term | |

| |investments. The investment risks of this fund changes over time as its asset allocation changes. It is subject | |

| |to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad| |

| |and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal| |

| |invested is not guaranteed at any time, including at or after the fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.80% |

|Freedom 2045 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2045 Fund invests approximately 68% in domestic equity funds, 17% in international| |

| |equity funds, 5% in investment grade fixed income funds and 10% in high yield fixed income funds. The fund's | |

| |current and/or projected target asset allocation percentages are also available in the fund's fact sheet, | |

| |prospectus and annual and semi-annual reports. The fund's manager selects underlying funds from those named in | |

| |the fund's prospectus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio | |

| |manager(s) in accordance with its own investment objective, and depending on that objective, may invest in | |

| |domestic and foreign equities, investment grade and/or high yield fixed-income securities and short-term | |

| |investments. The investment risks of this fund changes over time as its asset allocation changes. It is subject | |

| |to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad| |

| |and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal| |

| |invested is not guaranteed at any time, including at or after the fund's target date. | |

|Fidelity |Each Freedom Fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset |0.82% |

|Freedom 2050 |allocation strategy is based on the number of years until its target retirement date, and the strategy gradually| |

|Fund® |becomes more conservative as each fund approaches its target date. After reaching the target retirement date, | |

| |the fund continues to be managed more conservatively for 10-15 more years until the asset mix is approximately | |

| |the same as Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge into the Freedom | |

| |Income Fund. Fidelity Freedom 2050 Fund invests approximately 70% in domestic equity funds, 20% in international| |

| |equity funds, 1% in investment grade fixed income funds and 10% in high yield fixed income funds. The fund's | |

| |current and/or projected target asset allocation percentages are also available in the fund's fact sheet, | |

| |prospectus and annual and semi-annual reports. The fund's manager selects underlying funds from those named in | |

| |the fund's prospectus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio | |

| |manager(s) in accordance with its own investment objective, and depending on that objective, may invest in | |

| |domestic and foreign equities, investment grade and/or high yield fixed-income securities and short-term | |

| |investments. The investment risks of this fund changes over time as its asset allocation changes. It is subject | |

| |to the volatility of the financial markets, including equity and fixed income investments in the U.S. and abroad| |

| |and may be subject to risks associated with investing in high yield, small cap and foreign securities. Principal| |

| |invested is not guaranteed at any time, including at or after the fund's target date. | |

Strategic Advisers, Inc., a subsidiary of FMR LLC, manages the Fidelity Freedom Funds®. The percentages represent anticipated target asset allocation at September 30, 2009. Total allocations may sometimes be over or under 100% due to rounding.

Before investing in any mutual fund, please carefully consider the investment objectives, risks, charges and expenses. For this and other information, call or write Fidelity for a free prospectus. Read it carefully before you invest.

In the event of a discrepancy between this notice and the terms of the Plan, the plan document will govern.

The Plan is intended to be a participant-directed plan as described in Section 404(c) of ERISA, which means that fiduciaries of the Plan are ordinarily relieved of liability for any losses that are the direct and necessary result of investment instructions given by a participant or beneficiary.

The investment options available through the plan reserve the right to modify or withdraw the exchange privilege.

Unless otherwise noted, transaction requests confirmed after the close of the market, normally 4 p.m. Eastern time, or on weekends or holidays, will receive the next available closing prices.

*The expense ratio is the total annual fund or class operating expenses (before waivers or reimbursements) paid by the fund and stated as a percent of the fund's total net assets. Expense ratios change periodically. Please consult the most recent prospectus for current data.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 300 Puritan Way, Marlborough MA 01752

506113.3.0

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AMERISAFE, Inc.

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