United Fire & Casualty (NASDAQ:UFCS)
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The Company is engaged in the business of writing property and casualty insurance and life insurance.
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The Company is engaged in the business of writing property and casualty insurance and life insurance.
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Like many insurance companies with exposure in Gulf states, UFCS was badly impacted by Hurricane Katrina. This is not a sign of a failed company, simply one which failed to predict the scope of damage which could occur from a type of event which had never before occurred. All this means is that UFCS is currently attractively priced looking ahead at the next few years, especially now that they have data to modify their business model to account for a natural disaster of the scope of Hurricane Katrina.