Item 5.02: Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 3, 2012, the Board of Directors of United Insurance Holdings Corp. (the
Company) appointed Mr. Jay K. Williams as its Vice President of Marketing
beginning on July 16, 2012. This is a newly created position for the Company and
Mr. Williams will be responsible for the Company's sales and marketing efforts.
Mr. Williams will be compensated at an annual rate of $200,000 with no stock
options and no guaranteed bonus plan.
Mr. Williams, age 55, has over 30 years of executive experience in all aspects
of the insurance industry, serving most recently as President of Bankers
Underwriters, Inc., a subsidiary of Bankers Financial Corp. (Bankers), a
Florida-based company, operating a diverse array of enterprises, ranging from
insurance to property development. While at Bankers, Mr. Williams was
responsible for all phases of financial management, personnel management, and
strategic planning for Bankers Underwriters, Inc. and several of its affiliated
companies. Prior to joining Bankers, Mr. Williams served as the Managing
Director for FAIA Members Services, Inc. (FMS). During his tenure at FMS, Mr.
Williams was responsible for leading the "for profit" subsidiary of the Florida
Association of Insurance Agents, a nonprofit state trade association of
insurance agencies. He has significant experience in running multi-million
dollar organizations including marketing, budgeting income and expenses,
relationship management, mergers and acquisitions, personnel management, and
sales management.
Mr. Williams, with a number of insurance-related licenses and accreditations, is
an independent consultant, education specialist, and expert witness. He also
serves on the faculty of Independent Insurance Agents & Brokers of America'sVirtual University "Ask An Expert" program and as an insurance expert for
consumers on AllExperts.com.
We have attached hereto as Exhibit 99.1 a copy of our press release announcing
Mr. Williams' appointment as Vice President of Marketing.
