XML 57 R19.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Significant Accounting Policies (Policies) | 6 Months Ended
--- | ---
Jun. 30, 2012
Significant Accounting Policies [Abstract] |
Nature of Operations | Nature of Operations Universal Insurance Holdings, Inc. (“UIH”) is a Delaware corporation originally incorporated as Universal Heights, Inc. in November 1990. UIH, with its wholly-owned subsidiaries (the “Company”) is a vertically integrated insurance company performing all aspects of insurance underwriting, distribution and claims. Through its wholly-owned subsidiaries, including Universal Property & Casualty Insurance Company (“UPCIC”) and American Platinum Property and Casualty Insurance Company (“APPCIC”), collectively referred to as the (“Insurance Entities”), the Company is principally engaged in the property and casualty insurance business offered primarily through a network of independent agents. Risk from catastrophic losses is managed through the use of reinsurance agreements. The Company’s primary product is homeowners’ insurance offered in five states as of June 30, 2012, including Florida which comprises the vast majority of the Company’s in-force policies. See Note 5, Insurance Operations, for more information regarding the Company’s insurance operations. The Company generates revenues primarily from the collection of premiums and the investment of available funds in excess of those retained for claims-paying obligations and insurance operations. Other significant sources of revenue include commissions collected from reinsurers and policy fees.
Basis of Presentation | Basis of Presentation The Company has prepared the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by United States Generally Accepted Accounting Principles (“GAAP”) for complete financial statements. Therefore, the Financial Statements should be read in conjunction with the audited Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011, filed with the SEC on March 26, 2012. The condensed consolidated balance sheet at December 31, 2011, was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included in the Financial Statements. The results for interim periods do not necessarily indicate the results that may be expected for any other interim period or for the full year. The Financial Statements include the accounts of the UIH and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Management must make estimates and assumptions that affect amounts reported in the Company’s Financial Statements and in disclosures of contingent assets and liabilities. Actual results could differ from those estimates. To conform to the current period presentation, certain amounts in the prior periods’ consolidated financial statements and notes have been reclassified. Such reclassifications were of an immaterial amount and had no effect on net income or stockholders’ equity. The Company has adjusted its Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2011 to reflect the effect of a reclassification made to its Condensed Consolidated Balance Sheet as of June 30, 2011 related to reinsurance payables. This reclassification was made upon discovery that the Company was offsetting receivables and payables with non-affiliated reinsurers. This correction represents a change in the presentation only of the Company’s Condensed Consolidated Balance Sheet and Condensed Consolidated Statement of Cash Flows and had no impact on earnings, equity or cash flows from operating, investing and financing activities. The following line items were adjusted (in thousands):
|  | Six Months Ended June 30, 2011 |
|  | As Reported |  |  | Reclassification |  |  | Adjusted |
Condensed Consolidated Statements of Cash Flows: |  |  |  |  |  |  |  |  |  |  |  |
Net change in assets and liabilities relating to operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Reinsurance receivable, net |  | $ | — |  |  | $ | (10,419 | ) |  | $ | (10,419 | )
Reinsurance payable, net |  | $ | 54,558 |  |  | $ | 10,419 |  |  | $ | 64,977 |
An adjustment has been made to the Company’s Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2011 to reflect the effect of a reclassification made to the Company’s Condensed Consolidated Balance Sheet as of June 30, 2011 related to restricted cash and cash equivalents. The Company reclassified amounts out of cash and cash equivalents that were restricted in terms of their use and withdrawal and has presented those amounts of restricted cash and cash equivalents as a separate line item on the face of the Condensed Consolidated Balance Sheets. The following line items were adjusted (in thousands):
|  | Six Months Ended June 30, 2011 |
|  | As Reported |  |  | Reclassification |  |  | Adjusted |
Condensed Consolidated Statements of Cash Flows: |  |  |  |  |  |  |  |  |  |  |  |
Net change in assets and liabilities relating to operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash and cash equivalents |  | $ | — |  |  | $ | (19,689 | ) |  | $ | (19,689 | )
Net cash flows provided by (used in) operating activities |  | $ | 215,229 |  |  | $ | (19,689 | ) |  | $ | 195,540 |
Net increase in cash and cash equivalents |  | $ | 209,154 |  |  | $ | (19,689 | ) |  | $ | 189,465 |
Cash and cash equivalents at beginning of period |  | $ | 147,585 |  |  | $ | (13,940 | ) |  | $ | 133,645 |
Cash and cash equivalents at end of period |  | $ | 356,739 |  |  | $ | (33,629 | ) |  | $ | 323,110 |
Concentrations of Credit Risk | Concentrations of Credit Risk. The Company is exposed to concentrations of credit risk, consisting principally of cash and cash equivalents, restricted cash and cash equivalents, debt securities, premiums receivable, prepaid reinsurance premiums, reinsurance receivable and reinsurance recoverables. Concentrations of credit risk with respect to cash on deposit are limited by the Company’s policy of investing excess cash with custodial institutions that invest primarily in money market accounts consisting of short-term U.S. Treasury securities. These accounts are held primarily by the Institutional Trust & Custody division of U.S. Bank and SunTrust Bank Escrow Services. The Company maintains depository relationships with SunTrust Bank and Wells Fargo Bank N.A., and other banking institutions. It is the Company’s policy not to have a balance of more than $250 thousand for any of its affiliates at any institution on any given day to minimize exposure to a bank failure. Cash balances in excess of $250 thousand are transferred daily into custodial accounts with SunTrust Bank Escrow Services where cash is immediately invested into shares of money market funds. Restricted cash and cash equivalents are maintained in money market accounts consisting of U.S. Treasury and government agency securities. The following table presents the amount of cash and cash equivalents and restricted cash and cash equivalents as of the periods presented (in thousands):
|  | As of June 30, 2012 |
|  | Cash and cash equivalents |  |  | Restricted cash and cash equivalents |
Institution |  | Cash |  |  | Money Market Funds |  |  | Total |  |  | % by institution |  |  | Funds held in Trust (1) |  |  | State Deposits (2) |  |  | Total |  |  | % by institution |
U. S. Bank IT&C |  | $ | — |  |  | $ | 40,475 |  |  | $ | 40,475 |  |  |  | 11.4 | % |  | $ | — |  |  | $ | 800 |  |  | $ | 800 |  |  |  | 1.1 | %
SunTrust Bank |  |  | 1,106 |  |  |  | — |  |  |  | 1,106 |  |  |  | 0.3 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SunTrust Bank Escrow Services |  |  | — |  |  |  | 311,029 |  |  |  | 311,029 |  |  |  | 87.3 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Wells Fargo Bank N.A. |  |  | 1,520 |  |  |  | 3 |  |  |  | 1,523 |  |  |  | 0.4 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bank of New York Mellon Trust Co. (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,979 |  |  |  | — |  |  |  | 19,979 |  |  |  | 26.9 | %
Florida Department of Financial Services |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 53,495 |  |  |  | 53,495 |  |  |  | 72.0 | %
All Other Banking Institutions |  |  | 2,033 |  |  |  | 159 |  |  |  | 2,192 |  |  |  | 0.6 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 4,659 |  |  | $ | 351,666 |  |  | $ | 356,325 |  |  |  | 100.0 | % |  | $ | 19,979 |  |  | $ | 54,295 |  |  | $ | 74,274 |  |  |  | 100.0 | %
|  | As of December 31, 2011 |
|  | Cash and cash equivalents |  |  | Restricted cash and cash equivalents |
Institution |  | Cash |  |  | Money Market Funds |  |  | Total |  |  | % by institution |  |  | Funds held in Trust (1) |  |  | State Deposits (2) |  |  | Total |  |  | % by institution |
U. S. Bank IT&C |  | $ | — |  |  | $ | 40,474 |  |  | $ | 40,474 |  |  |  | 17.6 | % |  | $ | — |  |  | $ | 800 |  |  | $ | 800 |  |  |  | 1.0 | %
SunTrust Bank |  |  | 1,629 |  |  |  | — |  |  |  | 1,629 |  |  |  | 0.7 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
SunTrust Bank Escrow Services |  |  | — |  |  |  | 182,701 |  |  |  | 182,701 |  |  |  | 79.5 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Wells Fargo Bank N.A. |  |  | 1,244 |  |  |  | 14 |  |  |  | 1,258 |  |  |  | 0.5 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Bank of New York Mellon Trust Co. (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,220 |  |  |  | — |  |  |  | 30,220 |  |  |  | 38.6 | %
Florida Department of Financial Services |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 47,292 |  |  |  | 47,292 |  |  |  | 60.4 | %
All Other Banking Institutions |  |  | 1,739 |  |  |  | 1,884 |  |  |  | 3,623 |  |  |  | 1.6 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 4,612 |  |  | $ | 225,073 |  |  | $ | 229,685 |  |  |  | 100.0 | % |  | $ | 30,220 |  |  | $ | 48,092 |  |  | $ | 78,312 |  |  |  | 100.0 | %
(1) | Amounts held in trust include collateral contributed by UIH in connection with reinsurance contracts entered into between UPCIC and a segregated account owned and maintained by UIH.
(2) | State deposits represent amounts held with regulatory agencies in the various states in which our Insurance Entities do business. Applicable laws and regulations govern not only the amount, but also the type of securities that are eligible for deposit. State deposits also include amounts that UPCIC has voluntarily placed on deposit in connection with the reinsurance contract between UPCIC and UIH.
Concentrations of credit risk with respect to premiums receivable are limited due to the large number of individuals comprising the Company’s customer base. However, the majority of the Company’s revenues are currently derived from products and services offered to customers in Florida, which could be adversely affected by economic downturns, an increase in competition or weather-related events. In order to reduce credit risk for amounts due from reinsurers, the Insurance Entities seek to do business with financially sound reinsurance companies and regularly evaluate the financial strength of all reinsurers used. Everest Reinsurance Company, the reinsurer to which the Insurance Entities ceded the most risk through May 31, 2012, has the following ratings from each of the rating agencies: A+ from A.M. Best Company; A+ from Standard and Poor’s Rating Services and; Aa3 from Moody’s Investors Service, Inc. Additionally, Odyssey Reinsurance Company, the reinsurer to which the Insurance Entities cede the most risk effective June 1, 2012, has the following ratings from each of the rating agencies: A from A.M. Best Company; A- from Standard and Poor’s Rating Services and; A3 from Moody’s Investors Service, Inc.
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In December 2011, the Financial Accounting Standards Board (“FASB”) updated its guidance to the Balance Sheet Topic 210 of the FASB Accounting Standards Codification (“ASC”). This updated guidance requires entities that have financial instruments and derivative instruments that are offset, to disclose information about offsetting and related arrangements to enable users of financial statements to understand the effect of those arrangements on an entity’s financial position. This guidance is to be applied for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. Disclosure is required retrospectively for all comparative periods presented. The additional disclosures required by the updated guidance will not have an impact on the Company’s operating results, cash flows or financial position.
Comprehensive Income | In June 2011, the FASB updated its guidance related to the Comprehensive Income Topic 220 of the FASB ASC. This updated guidance increases the prominence of items reported in other comprehensive income by eliminating the option of presenting components of other comprehensive income as part of the statement of changes in stockholders’ equity. The guidance requires that total comprehensive income (including both the net income components and other comprehensive income components) be reported in either a single continuous statement of comprehensive income (the approach currently used in the Company’s financial statements), or two separate but consecutive statements. This guidance is to be applied retrospectively to fiscal years (and interim periods within those years) beginning after December 15, 2011. The Company adopted this guidance effective January 1, 2012. This guidance did not have an impact on the presentation of the Company’s financial statements and notes herein, as the Company did not have any amounts of other comprehensive income during the periods presented.
Fair Value Measurement | In May 2011, the FASB updated its guidance related to the Fair Value Measurement, Topic 820 of the ASC, to achieve common fair value measurement and disclosure requirements with International Financial Reporting Standards. The amendments change the wording used to describe many of the requirements under GAAP, to clarify the intent of application of existing fair value measurement and disclosure requirements, and to change particular principles or requirements for measuring and disclosing fair value measurements. The amendments are to be applied prospectively to interim and annual reporting periods beginning after December 15, 2011. The Company adopted this guidance effective January 1, 2012. The adoption of this guidance resulted in additional disclosure but did not impact the Company’s results of operations, cash flows or financial position.
Reinsurance Recoverable | In September 2010, the FASB issued guidance related to accounting for costs associated with acquiring or renewing insurance contracts.
Deferred Policy Acquisition Costs | This guidance defines allowable deferred policy acquisition costs as costs incurred by insurance entities for the successful acquisition of new and renewal contracts. Such costs result directly from and are essential to the contract transaction(s) and would not have been incurred by the insurance entity had the contract(s) not occurred. This guidance is effective for periods beginning after December 15, 2011, with early adoption permitted. The Company adopted this guidance prospectively effective January 1, 2012. Under the new guidance, the Company’s net deferred policy acquisition costs were reduced from $13.0 million to $11.4 million, a difference of 13%. The resulting $1.6 million difference was charged directly to earnings during the three months ended March 31, 2012. This charge represents a charge-off of capitalized costs existing at December 31, 2011, which would have been amortized to earnings within a twelve-month period under the old guidance.

X
- Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References No definition available. + Details
Name: | us-gaap_BasisOfAccountingPolicyPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for comprehensive income. + References No definition available. + Details
Name: | us-gaap_ComprehensiveIncomePolicyPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for credit risk. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 825 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6480020&loc=d3e61044-112788 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number SOP94-6-1 -Paragraph 7, 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 113 -Paragraph 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 55 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6875567&loc=d3e14537-108613 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 825 -Section 55 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6487554&loc=d3e32600-158583 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 55 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6875567&loc=d3e14489-108613 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15A -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 14 -Subparagraph m -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13531-108611 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 825 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6480020&loc=d3e61082-112788 + Details
Name: | us-gaap_ConcentrationRiskCreditRisk
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for deferral and amortization of significant deferred charges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 17 -Article 5 + Details
Name: | us-gaap_DeferredChargesPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for fair value measurements, which may include, but is not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 35 -Paragraph 18G -URI http://asc.fasb.org/extlink&oid=15229074&loc=SL7494712-110257 + Details
Name: | us-gaap_FairValueMeasurementPolicyPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. + References No definition available. + Details
Name: | us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for ceded reinsurance transactions on the financial statements, and description of the methodologies and assumptions underlying determination of reinsurance recoverables and reinsurance payables. If applicable, the assumptions pertaining to foreign-based reinsurance, and the nature and effect of material nonrecurring reinsurance transactions. May also state that the ceding insurer is not relieved of its primary obligation to policyholders. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6588590&loc=d3e27758-158548 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6811-158387 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 113 -Paragraph 27, 120 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 55 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6588590&loc=d3e27830-158548 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.13(c)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6480758&loc=d3e6816-158387 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Subparagraph c -Article 7 + Details
Name: | us-gaap_ReinsuranceAccountingPolicy
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Nature of operations. + References No definition available. + Details
Name: | uve_NatureOfOperationsPolicyTextBlock
Namespace Prefix: | uve_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration