Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CRIM STEPHEN R
   2. Issuer Name and Ticker or Trading Symbol
AMERICAN SAFETY INSURANCE HOLDINGS LTD [ASI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO/President
(Last)
(First)
(Middle)
804 CHESWICK COURT		 3. Date of Earliest Transaction (Month/Day/Year)
03/04/2008
(Street)

MARIETTA, GA 30067		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/04/2008   A   4,680 (1) A $ 0 4,680 D  
Common Stock               26,430 D  
Common Stock               65,339 I See FN 2 (2)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (right to buy) (3) $ 17.95 03/04/2008   A   21,962   03/04/2011 03/04/2018 Common Stock 21,962 $ 0 21,962 D  
Stock Option (right to buy) $ 17.95             03/04/2009(4) 03/04/2018 Common Stock 10,000   10,000 D  
Stock Options (right to buy) $ 19.05             03/15/2008(4) 03/15/2017 Common Stock 10,000   10,000 D  
Stock Options (right to buy) $ 16.4             03/15/2007(4) 03/15/2016 Common Stock 10,000   10,000 D  
Stock Options (right to buy) $ 13.67             01/21/2005(4) 01/21/2014 Common Stock 18,000   18,000 D  
Stock Options (right to buy) $ 8.57             06/19/2008(5) 06/19/2013 Common Stock 95,000   95,000 D  
Stock Options (right to buy) $ 6.75             01/30/2004(4) 01/30/2013 Common Stock 12,000   12,000 D  
Stock Options (right to buy) $ 8.85             01/18/2003(4) 01/18/2012 Common Stock 20,000   20,000 D  
Stock Options (right to buy) $ 6             06/23/2001(4) 06/23/2010 Common Stock 23,000   23,000 D  
Stock Options (right to buy) $ 9.5             02/12/2000(4) 02/12/2009 Common Stock 35,000   35,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CRIM STEPHEN R
804 CHESWICK COURT
MARIETTA, GA 30067		   X     CEO/President  

Signatures

 Stephen R. Crim   03/25/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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).
(1) Restricted Stock Award issued pursuant to the Company's 2008 Long-Term Incentive Compensation Plan, which vest 25% on the first and second anniversary of the date of grant and 50% on the third anniversary of the date of grant.
(2) Includes 65,195 shares of common stock owned by his spouse and 144 shares of common stock held of record as custodian for a child.
(3) The options are performance stock options. The options vest on the third anniversary of the date of grant based on the achievement of established three year growth and profitability targets. 100% of the options listed above will vest if a performance level equal to 120% of the established targets is achieved. Achievement of performance levels between 80% and 120% of target results in vesting of a reduced percentage of the options based on a sliding scale. None of the options will vest if a performance level of less than 80% of the targets is achieved.
(4) These options have a three-year vesting schedule, pursuant to which the shares underlying the options shall vest in one-third increments commencing one year after the date of grant. The date shown is the date the first vested number of shares becomes/became exercisable.
(5) These options cliff vest on the fifth anniversary of the date of grant.

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