Business Context and Reporting Period
This Form 8-K Current Report was filed by United Insurance Holdings Corp. (noting the request metadata references "American Coastal Insurance Corp," the filing text identifies the registrant as United Insurance Holdings Corp.) on October 19, 2012, covering events occurring on October 17, 2012. The report details a significant executive appointment within the company's wholly-owned subsidiary, United Insurance Management, L.C.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation terms.
Material Changes
The primary material change reported is the appointment of Mr. John F. Langowski, III as the new Vice President of Claims for United Insurance Management, L.C., effective November 5, 2012. This is a newly created position designed to oversee all aspects of the company's claims function.
Management Commentary and Compensation
- Compensation: Mr. Langowski will receive an annual salary of $175,000 and a one-time signing bonus of $20,000.
- Background: Mr. Langowski brings over 22 years of industry experience, including roles as Vice President and Chief Claims Officer at Cypress Insurance Group and Regional Director of Claims for Farmers Insurance Group.
- Contract: An employment agreement formalizing these terms has been executed and is attached as Exhibit 99.2.
Investor Verification Checklist
- Verify the exact legal name of the registrant (United Insurance Holdings Corp.) versus the metadata provided.
- Confirm the effective start date of the new executive (November 5, 2012).
- Review the attached Employment Agreement (Exhibit 99.2) for additional terms, severance provisions, or performance conditions not detailed in the summary.
- Check subsequent filings for any updates regarding the integration of the new claims leadership.