RLI CORP — Director's Dealing 2007

May 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2007-05-15

Reporting Person: FICK JEFFREY D (Vice President Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-15	Common Stock	J	21.815	$57.2999	Acquired	6476.796	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	474.7997	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$49.5	2015-10-19	Common Stock (4000)	4000	Direct
Stock Option	$50.15	2016-05-04	Common Stock (7000)	7000	Direct
Stock Option	$56.09	2017-05-03	Common Stock (8000)	8000	Direct

Footnotes

F1: Shares purchased through payroll deduction feature of the RLI Dividend Reinvestment Plan.

F2: Pursuant to option schedule wherein 20% of the aggregate number of shares granted may be exercised commencing one year from grant date and each year thereafter in 20% increments.