TAMPA, Fla., Jan. 22, 2021 (World NEWSWIRE) — HCI Team, Inc. (NYSE: HCI), an InsurTech organization with functions in insurance policy, software enhancement and serious estate, has entered into a renewal rights arrangement, dated January 18, 2021, with United Coverage Holding Corp. (NASDAQ: UIHC) pursuant to which United is to transition to HCI all its private lines insurance policies small business in the states of Connecticut, New Jersey, Massachusetts and Rhode Island.
“We’re psyched to enter into this arrangement with United,” said HCI Group Chairman and Main Executive Officer Paresh Patel. “When absolutely consummated, these transactions will speed up our strategic approach to develop nationally. We will get not only a seasoned book of small business, but also an set up agent network and essential fundamental details.”
About HCI Team, Inc.
HCI Group, Inc. is an InsurTech business with operations in insurance policies, computer software growth and actual estate. HCI’s leading insurance policies operation, TypTap Insurance policy Firm, is a quickly rising, know-how-pushed insurance coverage organization, which gives property owners insurance policies and flood insurance coverage in Florida. TypTap’s functions are powered in huge part by insurance policy-associated information engineering made by HCI’s software package subsidiary, Exzeo United states of america, Inc. HCI’s largest subsidiary, Owners Decision Property & Casualty Insurance plan Organization, Inc., provides homeowners’ insurance policies generally in Florida. HCI’s genuine estate subsidiary, Greenleaf Capital, LLC, owns and operates many qualities in Florida, together with office environment properties, retail facilities and marinas.
The company’s popular shares trade on the New York Inventory Exchange less than the ticker symbol “HCI” and are bundled in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. routinely publishes monetary and other data in the Investor Details section of the company’s web-site. For more details about HCI Team and its subsidiaries, stop by www.hcigroup.com.
This news release could comprise forward-wanting statements manufactured pursuant to the Personal Securities Litigation Reform Act of 1995. Terms this kind of as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other identical words and expressions are meant to signify ahead-wanting statements. Forward-seeking statements are not assures of potential outcomes and circumstances, but alternatively are subject matter to different risks and uncertainties. For example, there can be no assurance that coverage regulators will permit HCI to operate in the relevant states and approve the proposed phrases of the transaction. Further more, there can be no assurance the transitioned company will be worthwhile. Some of these dangers and uncertainties are discovered in the company’s filings with the Securities and Exchange Commission. Need to any challenges or uncertainties acquire into real gatherings, these developments could have substance adverse results on the proposed transaction and HCI’s business, financial situation, and effects of operations. HCI Group, Inc. disclaims all obligations to update any ahead-looking statements.
Rachel Swansiger, Esq.
HCI Team, Inc.
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