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United Insurance Holdings Corporation (UPC) a Florida insurance company holding company whose United Property & Casualty Insurance Company (United P&C) subsidiary was recently downgraded to “M” Moderate by Demotech in July is placing the personal lines subsidiary into runoff. Demotech has also indicated that they intend to withdraw UPC’s ratings.

United P&C has filed its intent to withdraw with the departments in Florida, Louisiana and Texas. Louisiana has already approved the withdrawal. In addition they intend to file a plan with New York. The company also wrote in Georgia, South Carolina and North Carolina but has already sold its renewal rights and ceded its premiums and claims in those states.

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