SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Abramson Robert P (Last) (First) (Middle) HILB ROGAL & HOBBS COMPANY 4951 LAKE BROOK DRIVE, SUITE 500 (Street) GLEN ALLEN VA 23060 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 05/01/2007	3. Issuer Name and Ticker or Trading Symbol HILB ROGAL & HOBBS CO [ HRH ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President	5. If Amendment, Date of Original Filed (Month/Day/Year) 05/09/2007
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Calls (Right to buy)(1)	11/07/2003	11/07/2008	Common Stock	150,000(1)	$40	D
Calls (Right to buy)(1)	05/11/2005	05/11/2009	Common Stock	50,000(1)	$40.59	D
Calls (Right to buy)(1)	09/30/2004	09/30/2008	Common Stock	50,000(1)	$42.61	D
Puts (Right to sell)(1)	11/07/2003	11/07/2008	Common Stock	150,000	$25	D
Puts (Right to sell)(1)	09/30/2004	09/30/2008	Common Stock	50,000	$29.82	D
Puts (Right to sell)(1)	05/11/2005	05/11/2009	Common Stock	50,000	$30.78	D

Explanation of Responses:

1. This transaction is part of a paired group of puts and calls commonly referred to as a "zero cost collar," which pre-existed the insider status of the reporting person. Accordingly, the calls shown here are deemed short positions, and the puts are deemed long positions. If the collar is undone, the underlying transactions would be acquisitions of calls and sale of puts. On Form 3 the calls, although showing a positive amount are actually short. Therefore, an unwinding of the collar would be reflected on a Form 4 as a sale of the calls (when it was in fact a purchase). The put transactions would be properly reflected on the Form 4 for the unwinding.

	Walter L. Smith, A. Brent King, John Hamerki, Timothy J. Korman	03/06/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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