United Property & Casualty Insurance Co., a subsidiary of Florida-based United Insurance Holdings Corp., said it will be submitting applications to write property and casualty insurance in Massachusetts, Connecticut, Rhode Island and four other states.

The company offers homeowners, dwelling fire and flood insurance policies throughout Florida and plans to offer similar products in the states in which it becomes authorized to write policies. In addition to Southern New England, the company also wants to write policies in New York, North Carolina, South Carolina and New Jersey.

The company said those particular markets have a need for a well-capitalized, quality independent insurance provider. United’s cash and investment holdings totaled $194.7 million on Sept. 30, 2009, and the company said it plans to leverage its financial resources, reinsurance network, and underwriting expertise to provide property and casualty insurance in these states.

"We decided that the time was right to explore other markets and potentially expand our geographic footprint, and we think United’s products particularly fit the needs of homeowners in these regions of the United States," said Don Cronin, United’s CEO. "Our experience in Florida at managing our exposure and adapting to changing market conditions will assist us greatly in our attempts to expand into new markets."