8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 14, 2006

HCC Insurance Holdings, Inc.
(Exact name of registrant as specified in its charter)

DE	001-13790	76-0336636
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

13403 Northwest Freeway, Houston, Texas	77040
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code:   713-690-7300

________________________________________________________________________________
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
	[   ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	[   ]	Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)
	[   ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	[   ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On August 10, 2006, HCC Insurance Holdings, Inc. (the "Company") filed with the Securities and Exchange Commission a Form 12b-25, whereby the Company announced it would not file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2006 (the "Quarterly Report") on a timely basis.

On August 14, 2006, the Company issued a press release announcing the Quarterly Report would be delayed until the completion of an independent internal review of its historical stock option granting practices.

A copy of the press release filed by the Company is attached hereto as Exhibit 99.1 and incorporated herein by reference and is also available at HCC's website at www.hcc.com.

Item 9.01. Financial Statements and Exhibits.

    Exhibit 99.1.       Press release dated August 14, 2006

SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HCC Insurance Holdings, Inc. (Registrant)
August 14, 2006 (Date)	/s/   CHRISTOPHER L. MARTIN Christopher L. Martin Executive VP & General Counsel

Exhibit Index
99.1	Press release dated August 14, 2006

EX-99.1

EXHIBIT 99.1

HCC Insurance Holdings, Inc. Updates Status of Delayed Filing of Second Quarter 2006 Form 10-Q

HOUSTON, Aug. 14, 2006 (PRIMEZONE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced that it will delay filing its quarterly report on Form 10-Q for the quarter ended June 30, 2006 until completion of an independent review of its stock option granting practices. As previously disclosed in a Form 12b-25 filed with the Securities and Exchange Commission on August 9, 2006, the Company's management initiated a voluntary internal review of its stock option granting practices. The voluntary review found that in some instances the grant date may differ from the date used to record certain prior option grants, which could mean those grants may have been recorded incorrectly. Thereafter, the Board of Directors authorized its Audit Committee to conduct a comprehensive independent review of the Company's stock option granting practices from 1995 to the present. The Audit Committee has engaged independent counsel to assist in the review. This review is ongoing and no conclusions have been reached. The Company volu ntarily notified the staff of the SEC of its review and the SEC has initiated an informal inquiry into this matter. The Company intends to fully cooperate.

Upon completion of the Audit Committee's review, the Company will announce what, if any, adjustments to its consolidated financial statements are necessary, whether restatement of any previously filed financial statements is required and whether any material weaknesses in the system of internal control over financial reporting have been identified. Although there can be no assurance as to when the Audit Committee will complete its review, they currently expect their review to be substantially completed and a report of their findings to be made to the Board of Directors before the Company's Form 10-Q for third quarter 2006 is required to be filed with the SEC.

HCC is an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas with offices across the USA and in Bermuda, England and Spain. HCC has assets exceeding $7 billion and is rated AA (Very Strong) by Standard & Poor's and A+ (Superior) by A. M. Best Company.

For more information, visit our website at www.hcc.com.

The HCC Insurance Holdings, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1977

Forward-looking statements contained in this press release are made under "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The types of risks and uncertainties which may affect the Company are set forth in its periodic reports filed with the Securities and Exchange Commission.

CONTACT: HCC Insurance Holdings, Inc.
         L. Byron Way, Vice President
         (713) 690-7300