New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 9, 2012
12:08 EDTUIHCUnited Insurance receives assessment from FIGA; to take pre-tax charge in Q4
The company also announced today that UPC received a mandatory assessment from the Florida Insurance Guaranty Association, FIGA, a nonprofit corporation created by the Florida legislature. The assessment, which was approved by the Florida Office of Insurance Regulation, is equal to 0.9% of UPC’s net direct written premiums in Florida for the 2011 calendar year and is applicable to all members of FIGA’s “All Other Account,” which includes UPC. The assessment is expected to result in a pre-tax charge to consolidated operations of $1.6M in Q412. The mandatory assessment is expected to be fully recouped through a surcharge on UPC’s Florida policies, pursuant to a filing that will be submitted to the Florida Office of Insurance Regulation and the company expects it will have a positive impact on operating results over a twelve-month period beginning February 1, 2013.
News For UIHC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 27, 2015
16:45 EDTUIHCUnited Insurance signs reinsurance agreement with private and public partners
United Insurance Insurance entered into reinsurance agreements with several private reinsurers and with the Florida State Board of Administration, which administers the Florida Hurricane Catastrophe Fund. These agreements provide coverage against severe weather events such as hurricanes, tropical storms and tornadoes in all states UPC operates except for the FHCF agreement which only provides coverage in Florida. For the treaty year beginning June 1 and ended on May 31, 2016, UPC Insurance has obtained reinsurance protection of $1.25B, excess $25M, providing sufficient protection for approximately a 1-in-100 year hurricane event and a second 1-in-50 year hurricane event. The total cost of the 2015-16 catastrophe reinsurance program is estimated to be $161.4M.
16:36 EDTUIHCUnited Insurance signs reinsurance agreement with private and public partners
Subscribe for More Information
May 19, 2015
09:33 EDTUIHCUnited Insurance initiated with an Outperform at JMP Securities
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use