Business & Practice

United Insurance Holdings Legal Chief Brad Kalter Resigns

Jan. 22, 2021, 11:31 PM

United Insurance Holdings Corp.’s chief legal officer and general counsel Brad Kalter has resigned, effective Friday.

The St. Petersburg, Fla.-based operator of UPC Insurance reported Kalter’s resignation in a company filing, saying he was leaving to pursue “another opportunity” after nearly two years with the company.

United Insurance’s assistant general counsel, Brook Adler, will step in to Kalter’s job on an interim basis beginning Jan. 25 while the company searches for a permanent replacement, according to the filing.

The company primarily provides property and casualty insurance, and a record number of hurricanes in 2020 led to multiple quarters of loss.

United Insurance’s fourth quarter preview, published Dec. 15, said it expected losses of $85 million to $100 million from October to November due to hurricanes Delta and Zeta and tropical storm Eta.

The company reported net losses of $74.1 million in its third quarter and $12.7 million in the first quarter, though it reported net income of $24.3 million in the second quarter. The company cited decreases in policy acquisition costs and losses for its second-quarter boost.

United Insurance did not immediately respond to requests for comment.

Kalter joined the company in February 2019 from lead-acid battery producer Exide Technologies LLC, where he worked for 16 years, according to his LinkedIn profile. Before that, he was general counsel of Cotton States Insurance Group and an associate with Fellows, Johnson & LaBriola and Lord, Bissell & Brook.

To contact the reporter on this story: Ruiqi Chen in Washington, D.C. at rchen@bloombergindustry.com

To contact the editors responsible for this story: Chris Opfer at copfer@bloomberglaw.com
John Hughes at jhughes@bloombergindustry.com

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