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.

The company, which had 180,000 policyholders in 2022 in Florida alone will be non-renewing the policies as they come up for renewal, and running off the claims of the company. Runoff is not insolvency but is when a company ceases writing new business and renewing policies, and provides for an orderly mechanism for handling the remaining claims of the company. The contractual obligations of the company to the policyholders remain in place, and the company is responsible for the payment of all incurred claims during the policy period.