UPC warns downgrade may limit ability to secure reinsurance
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UPC warns downgrade may limit ability to secure reinsurance


United P&C Insurance (UPC) may be unable to secure future reinsurance coverage after being downgraded to an M rating by Demotech, the firm said in a statement today.

It also noted that it is uncertain on whether policies it has written that are fully covered by 100% quota shares with other insurers will be acceptable cover for mortgages backed by federal mortgage institutions Fannie Mae and Freddie...

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