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Subsequent Events | 9 Months Ended
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Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events |
15. | Subsequent Events
The Company performed an evaluation of subsequent events through the date the Financial Statements were issued and determined there were no recognized or unrecognized subsequent events that would require an adjustment or additional disclosure in the Financial Statements as of September 30, 2013 except for the following: On October 4, 2013, UPCIC and the OIR signed a Consent Order settling the matters to which the OIR Order related. See “—Note 5 (Insurance Operations)” for additional discussion of the OIR Order and Consent Order. The Consent Order clarifies language contained in the OIR Order, imposes certain requirements upon UPCIC, and requires UPCIC to pay an administrative fine of $1.3 million, which was paid by the Company on October 18, 2013. On October 8, 2013, the Company took possession of an office building which commenced obligations under the Lease Agreement. See “—Note 13 (Commitments and Contingencies)” for details of this lease arrangement.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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