secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2022-12-07T23:59:59+00:00
Accession:  0001401521-22-000128
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

FLOIR orders UPCIC run-off; all Florida policies cancelled by May 31, 2023
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- UPCIC placed under FLOIR administrative supervision for duration of run-off.
- MGA commission reduced to 13% effective Jan 1, 2023; weekly fee settlements from Oct 1, 2022.
- All Florida policies must be cancelled by May 31, 2023; unearned premium payments due by June 1, 2023.
- Reinsurance Allocation Agreement established for shared catastrophe limits with affiliate American Coastal.
- UPCIC must actively facilitate policy placement with other insurers; non-compliance risks certificate revocation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152122000128/0001401521-22-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152122000128/uihc-20221207.htm
  HTML page:      https://secwatch.observer/filing/0001401521-22-000128

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