{"id":536675,"date":"2021-09-09T16:18:17","date_gmt":"2021-09-09T20:18:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/united-insurance-holdings-corp-previews-q3-2021-estimated-catastrophe-losses\/"},"modified":"2021-09-09T16:18:17","modified_gmt":"2021-09-09T20:18:17","slug":"united-insurance-holdings-corp-previews-q3-2021-estimated-catastrophe-losses","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/united-insurance-holdings-corp-previews-q3-2021-estimated-catastrophe-losses\/","title":{"rendered":"United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b><span class=\"bwuline\">United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses<\/span><\/b><\/p>\n<p>ST. PETERSBURG, Fla.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company)<\/b>, a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred the third quarter through August 31, 2021, of approximately $27 million before income taxes (approximately $21 million after tax), net of expected reinsurance recoveries. The Company\u2019s estimated net catastrophe losses includes claims from Tropical Storm Elsa, Hurricane Ida, which includes our core catastrophe program retention of $15 million plus Interboro Insurance Company\u2019s catastrophe retention of $3 million, as well as other new PCS catastrophe events that occurred during this period. As a result of these events contributing to our aggregate reinsurance protection, the Company\u2019s exposure from potential future events this year in our core catastrophe program is expected to be limited to approximately $9 million.\n<\/p>\n<p>\n\u201cOur thoughts are with those who have suffered losses from these events, but particularly our policyholders in Louisiana. UPC Insurance is working around the clock to ensure we Keep Our Promise and adjust these claims as quickly and professionally as possible. UPC\u2019s catastrophe reinsurance program was designed to protect our earnings and capital from another potentially active hurricane season, so I\u2019m very pleased that our downside risk from subsequent events this year is limited,\u201d said Brad Martz, President &amp; Chief Financial Officer of UPC Insurance.\n<\/p>\n<p><b><i>About UPC Insurance<\/i><\/b><\/p>\n<p>\nFounded in 1999, UPC Insurance is an insurance holding company that sources, writes and services personal and commercial residential property and casualty insurance policies using a group of wholly owned insurance subsidiaries and one majority owned insurance subsidiary through a variety of distribution channels. The Company currently writes policies in Connecticut, Florida, Georgia, Louisiana, Massachusetts, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Texas. From its headquarters in St. Petersburg, UPC Insurance\u2019s team of dedicated professionals manages a completely integrated insurance company, including sales, underwriting, customer service and claims.\n<\/p>\n<p><b><i>Forward-Looking Statements<\/i><\/b><\/p>\n<p><i>Statements made in this press release may be \u201cforward-looking statements.\u201d These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words such as \u201cmay,\u201d \u201cwill,\u201d \u201cexpect,\u201d &#8220;endeavor,&#8221; &#8220;project,&#8221; \u201cbelieve,\u201d &#8220;plan,&#8221; \u201canticipate,\u201d \u201cintend,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cestimate\u201d or \u201ccontinue\u201d or the negative variations thereof or comparable terminology. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the \u201cRisk Factors\u201d section in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and, except as required by applicable law, we undertake no obligation to update or revise any forward-looking statement.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210909006006r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210909006006\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210909006006\/en\/<\/a><\/span><\/p>\n<p><b>United Insurance Holdings Corp.<br \/>\n<\/b><br \/>Jessica Strathman<br \/>\n<br \/>Deputy CFO<br \/>\n<br \/>(727) 895-7737 \/ <a rel=\"nofollow\" href=\"mailto:jstrathman@upcinsurance.com\">jstrathman@upcinsurance.com<\/a><\/p>\n<p><b>OR<\/b><\/p>\n<p><b>INVESTOR RELATIONS:<br \/>\n<\/b><br \/><b>The Equity Group<br \/>\n<\/b><br \/>Adam Prior<br \/>\n<br \/>Senior Vice-President<br \/>\n<br \/>(212) 836-9606 \/ <a rel=\"nofollow\" href=\"mailto:aprior@equityny.com\">aprior@equityny.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Florida Louisiana United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Professional Services Professional Services Insurance Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210909006006\/en\/904723\/3\/United_Insurance_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses ST. PETERSBURG, Fla.&#8211;(BUSINESS WIRE)&#8211;United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred the third quarter through August 31, 2021, of approximately $27 million before income taxes (approximately $21 million after tax), net of expected reinsurance recoveries. The Company\u2019s estimated net catastrophe losses includes claims from Tropical Storm Elsa, Hurricane Ida, which includes our core catastrophe program retention of $15 million plus Interboro Insurance Company\u2019s catastrophe retention of $3 million, as well as other new PCS catastrophe events that occurred during this period. As a result of these events contributing to our aggregate reinsurance protection, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/united-insurance-holdings-corp-previews-q3-2021-estimated-catastrophe-losses\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-536675","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/united-insurance-holdings-corp-previews-q3-2021-estimated-catastrophe-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"United Insurance Holdings Corp. Previews Q3-2021 Estimated Catastrophe Losses ST. PETERSBURG, Fla.&#8211;(BUSINESS WIRE)&#8211;United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred the third quarter through August 31, 2021, of approximately $27 million before income taxes (approximately $21 million after tax), net of expected reinsurance recoveries. The Company\u2019s estimated net catastrophe losses includes claims from Tropical Storm Elsa, Hurricane Ida, which includes our core catastrophe program retention of $15 million plus Interboro Insurance Company\u2019s catastrophe retention of $3 million, as well as other new PCS catastrophe events that occurred during this period. As a result of these events contributing to our aggregate reinsurance protection, &hellip; Continue reading &quot;United Insurance Holdings Corp. 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(NASDAQ: UIHC) (UPC Insurance or the Company), a property and casualty insurance holding company, today announced estimated current year catastrophe losses incurred the third quarter through August 31, 2021, of approximately $27 million before income taxes (approximately $21 million after tax), net of expected reinsurance recoveries. The Company\u2019s estimated net catastrophe losses includes claims from Tropical Storm Elsa, Hurricane Ida, which includes our core catastrophe program retention of $15 million plus Interboro Insurance Company\u2019s catastrophe retention of $3 million, as well as other new PCS catastrophe events that occurred during this period. As a result of these events contributing to our aggregate reinsurance protection, &hellip; Continue reading \"United Insurance Holdings Corp. 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