Unico American Corp. Board of Directors Elects Two New Members

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--The Board of Directors of Unico American Corp. (NASDAQ: UNAM) (“Unico,” the “Company”), an insurance holding company that, through its subsidiaries, including Crusader Insurance Company, primarily offers a variety of property and casualty insurance products and services, today announced the election of two new directors and the re-election of seven directors during the Company’s annual stockholders’ meeting on May 22, 2008.

During the annual meeting, shareholders elected new directors Terry L. Kinigstein, Vice President, General Counsel and Corporate Secretary, and Jon P. Kocourek, an independent director and insurance industry consultant.

“Unico’s strengthened Board of Directors will provide key strategic direction as we go forward into 2008,” said Mr. Erwin Cheldin, the Company’s President. “We continue to build the Company’s book value by making solid underwriting decisions, and these newest additions should further support our decision-making and oversight processes.”

Mr. Kinigstein, 62, has served as the Company’s General Counsel since 2002 and as Vice President and Secretary since 2008. He has 30 years of experience as an attorney in private practice performing transactional work and litigation prior to joining the Company.

Mr. Kocourek, 53, has more than 28 years of experience in the reinsurance business. He spent the last seven years with Willis Re, Inc., a reinsurance broker. He currently works part-time as a consultant in the insurance / reinsurance industry.

About Unico American Corp.

Headquartered in Woodland Hills, Calif., Unico is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty, and health insurance through its agency subsidiaries; and through its other subsidiaries provides insurance premium financing and membership association services. Unico has conducted the majority of its operations through Crusader Insurance Company since 1985. For more information, please visit the Company’s Web site at www.crusaderinsurance.com.