United Insurance intends to sell in New Jersey, six other states

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United Insurance Holdings Corp. has announced that its property-casualty division is submitting applications to write insurance in seven states, including New Jersey.

St. Petersburg, Fla.-based United said its United Property & Casualty Insurance Co. unit, with more than 96,000 homeowners policies in-force in Florida, will apply to sell products in Massachusetts, Connecticut, Rhode Island, New York, North Carolina, South Carolina, and New Jersey.

The company offers homeowners, dwelling fire and flood policies in Florida and may offer similar products in states it is authorized to write policies. The company said it believes these markets have a need for “a well-capitalized, quality independent insurance provider.”

Don Cronin, United’s chief executive officer, said “the time was right” to explore other markets and expand the company’s geographic footprint.

“We think United’s products particularly fit the needs of homeowners in these regions of the United States,” he said in a statement. “Our experience in Florida at managing our exposure and adapting to changing market conditions will assist us greatly in our attempts to expand into new markets.”

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