FORT LAUDERDALE, Fla.,
July 27, 2016 /PRNewswire/
-- Universal Insurance Holdings, Inc. (NYSE: UVE) announced
today that Universal Direct® (www.universaldirect.com), its
Direct-to-Consumer online platform for Universal Property &
Casualty Insurance Company ("UPCIC") products, is now available to
homeowners in Indiana and
South Carolina. With the addition
of Indiana and South Carolina, Universal Direct® is now
available in five states, including Pennsylvania, Minnesota and Alabama. Independent
appointed agents operating in Indiana and South
Carolina have the opportunity to receive commissions from
policies written by UPCIC via Universal Direct®.
Sean P. Downes, the Company's
Chairman and Chief Executive Officer, stated, "We are thrilled
with the steady expansion of Universal Direct® since launch, as
well as the positive feedback we continue to receive from customers
who have purchased policies through this innovative, easy-to-use
online platform. Homeowners in Indiana and South
Carolina now have the choice to purchase Universal Property
& Casualty Insurance Company policies through an independent
agent or online through Universal Direct®. We expect to write
and bind our first policies through Universal Direct® in
Indiana and South Carolina shortly, and look forward to
launching this exciting platform in additional states in the coming
months."
For additional information about Universal Direct®, please
visit www.universaldirect.com.
About Universal Insurance Holdings, Inc.
Universal
Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a
vertically integrated insurance holding company performing all
aspects of insurance underwriting, distribution and claims.
Universal Property & Casualty Insurance Company (UPCIC), a
wholly-owned subsidiary of the Company, is one of the leading
writers of homeowners insurance in Florida and is now fully licensed and has
commenced its operations in North
Carolina, South Carolina,
Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Minnesota, Michigan and Alabama. American Platinum Property and
Casualty Insurance Company, also a wholly-owned subsidiary,
currently writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages
currently not targeted through its affiliate UPCIC. For additional
information on the Company, please visit our investor relations
website at www.universalinsuranceholdings.com.
Forward-Looking Statements and Risk Factors
This press
release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. The words
"believe," "expect," "anticipate," and similar expressions identify
forward-looking statements, which speak only as of the date the
statement was made. Such statements may include commentary on
plans, products and lines of business, marketing arrangements,
reinsurance programs and other business developments and
assumptions relating to the foregoing. Forward-looking statements
are inherently subject to risks and uncertainties, some of which
cannot be predicted or quantified. Future results could differ
materially from those described, and the Company undertakes no
obligation to correct or update any forward-looking statements. For
further information regarding risk factors that could affect the
Company's operations and future results, refer to the Company's
reports filed with the Securities and Exchange Commission,
including Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the
quarter ended March 31, 2016.
Investor Contact:
Andy Brimmer / Mahmoud
Siddig
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Universal Insurance Holdings, Inc.