05/18/2022 - Attention- Agents with UPC Insurance

05/18/2022 - Attention- Agents with UPC Insurance

 05/18/2022 - Attention- Agents with UPC Insurance

PGI Agents with UPC Insurance,


You have seen this carrier retract at an incredible pace in the market over the past year. UPC Insurance (“UPC”) has taken a number of steps to “manage exposure” and transition away from 40,000 policies in an attempt to work out a reinsurance treaty by June 2022. Some of the tactics they have employed to try to obtain favorable reinsurance terms have included but are not limited to:

  1. Sell their renewal rights to their book in 7 states (To TypTap)
  2. Shut down all New Business in all of its states 
  3. Transition off of 40,000 Policies
  4. Reduce their distribution channel significantly


Despite their work towards their short-term goals of a reinsurance treaty, they are taking the drastic steps of a carrier that is showing little signs of surviving the inherent problems of the industry today, and their most recent quarterly report shows their combined operating ratio at 114% (24.2% worse than last year) despite their aggressive actions. As such we have asked to terminate our relationship with UPC, but maintain servicing rights.


Link to most recent Quarterly report:





As our relationship with UPC come to a close there are always a huge number of questions about how this will all unfold. I am currently waiting for those answers from UPC and will share them with you as we learn more. They have been relatively unresponsive. If you have desire to get a  spreadsheet on your book, Please ask EmilyM@PGiagents.com