Exhibit 3

July 15, 2010

Mr. John S. Sokol

Chairman, Chief Executive Officer and President

Bancinsurance Corporation

250 E. Broad Street

Columbus, Ohio 43215

Dear John:

Fenist Acquisition Sub, Inc. (the "Company") and Fenist, LLC ("Parent") have advised us that Parent will

acquire all of the outstanding capital stock of Bancinsurance Corporation ("Bancinsurance") pursuant to

the merger of the Company with and into Bancinsurance (the "Merger"). In connection with the

Merger, the Company and the Parent require financing to pay a portion of the consideration to be paid

to the holders of the common stock of Bancinsurance [and to pay certain fees and expenses related to

the Merger and the financing described in this letter]. Fifth Third Bank (the "Lender") is pleased to

advise you that it hereby commits to provide the Company and the Parent with such financing in the

form of a senior secured credit facility (the "Credit Facility") in the maximum aggregate amount of $15.0

million, on mutually acceptable terms to be negotiated among the Company, the Parent and the

Lender.

I look forward to working closely with you on this transaction.

Sincerely,

/s/ William J. Whitley

William J. Whitley

Vice President

Fifth Third Bank

BANCINSURANCE CORP SC 13D/A