Item 8.01. Other Events.

Effective June 1, 2021, United Insurance Holdings Corp. (UPC Insurance, UIHC), through its insurance subsidiaries American Coastal Insurance Company, Family Security Insurance Company, Inc., Interboro Insurance Company, Journey Insurance Company, and United Property & Casualty Insurance Company, renewed its catastrophe reinsurance programs.

Highlights of these agreements are as follows:

Purchased Core Catastrophe (CAT) multi-event cascading catastrophe reinsurance limit to $2.931 billion (Core CAT Program, the Program)



•For 2021/22, UPC Insurance purchased over $2.931 billion of multi-event
cascading limit, a decrease of $326 million, or 10%, from the $3.257 billion of
multi-event cascading limit purchased for its 2020/21 core catastrophe
reinsurance program
•Covers American Coastal Insurance Company, Family Security Insurance Company,
Inc. and United Property & Casualty Insurance Company;
•Excludes coverage for business written in the states of Connecticut,
Massachusetts, New Jersey, New York, and Rhode Island. Business written in these
states was covered in the 2020/21 Core CAT Program;
•Coverage for the perils of named and numbered storms and earthquake;
•First event retention of $15.0 million, a decrease of $31.5 million or 67.8%,
from the $46.5 million first event retention in the 2020/21 Core CAT Program.
•Second event retention of $15.0 million, a decrease of $2.5 million or 14.3%,
from the $17.5 million second event retention in the 2020/21 Core CAT Program.
•The Program contains enhanced aggregate coverage features which limit the
accumulation of hurricane and earthquake retained losses. Should the 2020
hurricane season repeat itself, the Program would limit UIHC's net retained
hurricane losses to $31.0 million.
•For the Florida Hurricane Catastrophe Fund (FHCF) Reimbursement Contracts
effective June 1, 2021, UPC Insurance elected 90% coverage for American Coastal
Insurance Company, Family Security Insurance Company, Inc. and United Property &
Casualty Insurance Company. The total mandatory FHCF layers will provide
approximately 90% of $1.72 billion of total Florida-only coverage with varying
retentions and limits among the three separate FHCF contracts which inure to the
benefit of the open market catastrophe reinsurance program;
?Sufficient coverage in excess of a 1-in-350 year event;
?Sufficient coverage for a 1-in-100 year event followed by a 1-in-50 year event
in the same season; and
?Fully cascading open market reinsurance limit drops down in subsequent events
providing no gaps in coverage from multiple events.

Increased stand-alone catastrophe limit for Interboro Insurance Company



•For 2021/22, Interboro Insurance Company purchased $212 million of limit per
occurrence, an increase of $155 million or 272%, from the $57 million of limit
per occurrence in 2020/21
?Aggregate limit of $274 million, an increase of $195 million or 247%, from the
$79 million of aggregate limit in 2020/21
?Includes coverage for the assumed business from United Property & Casualty
Insurance Company in the state New York;
?Sufficient coverage for approximately a 1-in-130 year event; and
?Sufficient coverage for a 1-in-100 year event followed by a 1-in-50 year event
in the same season.

Increased cascading catastrophe reinsurance limit purchased by Journey Insurance Company, UPC Insurance's AM Best A- rated insurance company, to $141.6 million

•For 2021/22, Journey Insurance Company purchased $141.6 million of multi-event cascading limit, an increase of $109.7 million or 343.9%, from the $31.9 million of multi-event cascading limit purchased for its 2020/21 catastrophe reinsurance program •For the FHCF Reimbursement Contracts effective June 1, 2021, UPC Insurance elected 90% coverage for Journey Insurance Company. The total mandatory FHCF layer will provide approximately 90% of $15.6

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million of total Florida-only coverage which inures to the benefit of the open
market catastrophe reinsurance program;
•First event retention of $5.0 million, a decrease of $370 thousand or 6.9%,
from the $5.37 million of first event retention in the 2020/21 catastrophe
program;
•Second and subsequent event retention of $1 million, a decrease of $4 million
or 80.0%, from the $5 million second event retention in the 2020/21 catastrophe
program;
•Sufficient coverage in excess of a 1-in-250 year event;
•Sufficient coverage for a 1-in-100 year event followed by a 1-in-200 year event
in the same season; and
•Cascading open market reinsurance limit drops down in subsequent events
providing no gaps in coverage.

Effective June 1, 2021, UPC Insurance renewed its quota share agreement with private reinsurers

•The quota share agreement covers United Property & Casualty Insurance Company, Family Security Insurance Company, Inc. and American Coastal Insurance Company; •Renewed at the expiring cession rate of 15% with the existing reinsurers; •Combined with the 8% cession rate effective December 31, 2020, the total quota share cession will be 23% for the duration of the 2021 hurricane season; •The quota share agreements provide coverage for all catastrophe perils and attritional losses.

Significant reduction in UIHC group retention levels

•The first event group pre-tax retention is $21.3 million, a decrease of $48.0 million or 69.3%, from the $69.3 million for the first event group pre-tax retention in 2020/21. •The second event group pre-tax retention is $18.7 million, a decrease of $9.4 million or 33.5%, from the $28.1 million for the second event group pre-tax retention in 2020/21.

Catastrophe excess of loss reinsurance spend increased slightly with the significant retention reduction purchases;

•The total cost of UPC Insurance's 2021/22 catastrophe excess of loss reinsurance programs is $411.1 million, an increase of $7.1 million or 1.76%, from the 2020/21 catastrophe excess of loss reinsurance program cost. The total cost of the 2021/22 catastrophe excess of loss reinsurance programs is 32.9% of the March 31, 2021 in-force premium, an increase from 30.4% of the March 31, 2020 in-force premium for the 2020/21 catastrophe excess of loss reinsurance programs.

This Item 8.01 may contain forward-looking statements about our reinsurance program and related attachment point, total coverage and costs. These statements are subject to the Private Securities Litigation Reform Act of 1995 and are based on management's estimates, assumptions and projections. These forward-looking statements can generally be identified as such because the context of the statement includes words such as estimate, expect or words of similar nature. The actual changes to our reinsurance program and related attachment point, total coverage and costs may differ materially from those discussed in this report, depending on our reinsurers' capacity to pay claims and related adjustment provisions in our agreements with the private reinsurers.

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