ST. PETERSBURG, Fla.--(BUSINESS WIRE)--
United Insurance Holdings Corp. (OTCBB: UIHC; UIHCW) (United or the
Company), a property and casualty insurance holding company, announced
today that the Rhode Island Department of Business Regulation approved
United Property and Casualty Insurance Company (UPC), one of its
wholly-owned subsidiaries, to write property and casualty insurance in
the state as an admitted carrier. This brings the total number of states
in the U.S. covered by UPC to four, along with Florida, Massachusetts
and South Carolina.
“We are very pleased to be approved to write our products in another
state,” said Don Cronin, United’s CEO. “By adding three additional east
coast states over the past 13 months, we have significantly diversified
our policy base into areas where our products and service fit the needs
of homeowners, a process that continues to be our primary focus.”
As Mr. Cronin indicated, the Company will continue its expansion
program. Its UPC subsidiary is in varying stages of discussion with
other state insurance regulatory authorities regarding its desire to
write property insurance in other states.
About United Insurance Holdings Corp.
Founded in 1999, United Property and Casualty Insurance Company, a
subsidiary of United Insurance Holdings Corp., writes and services
homeowners insurance in Florida and South Carolina and is licensed to
write property and casualty insurance in Massachusetts and Rhode Island.
From its headquarters in St. Petersburg, United's team of dedicated
employees manages a completely integrated insurance company, including
sales, underwriting, customer service and claims. The Company
distributes its homeowners, dwelling fire and flood products through
many agency groups and conducts business through three wholly-owned
subsidiaries. Homeowners insurance constitutes the majority of United's
premiums and policies.
Forward Looking Statements
This press release includes “forward looking statements” that are
subject to risks and uncertainties. Such forward looking statements
relate to future events or performance, but reflect United management’s
current beliefs, based on information currently available. A number of
factors could cause actual events, performance or results to differ
materially from the events, performance and results discussed in the
forward looking statements. For information identifying important
factors that could cause actual results to differ materially from those
anticipated in the forward looking statements, see United’s securities
filings, including its 2010 Annual Report under the heading Risk Factors
in the Management’s Discussion and Analysis section. The securities
filings can be accessed on the EDGAR section of the U.S. Securities and
Exchange Commission’s website at www.sec.gov
or through United’s website www.upcic.com.
Except as expressly required by applicable securities law, United
disclaims any intention or obligation to update or revise any forward
looking statements whether as a result of new information, future events
or otherwise.
Source: United Insurance Holdings Corp.
Contact:
United Insurance Holdings Corp.
John Rohloff
SEC
Reporting Manager
727-895-7737
jrohloff@upcic.com
or
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