Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCHARMER NEAL R
  2. Issuer Name and Ticker or Trading Symbol
UNITED FIRE & CASUALTY CO [UFCS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP/General Counsel/Corp Sec
(Last)
(First)
(Middle)
118 SECOND AVENUE SE, P.O. BOX 73909
3. Date of Earliest Transaction (Month/Day/Year)
02/15/2011
(Street)

CEDAR RAPIDS, IA 52407-3909
4. If Amendment, Date Original Filed(Month/Day/Year)
02/22/2011
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/15/2011 02/16/2011(1) P(2) V(3) 5 (4) A $ 19.73 (5) 210 (6) I By 401(k) account for Self
Common Stock 02/18/2011   A   1,974 A $ 20.54 3,242 (7) D  
Common Stock               679 I By Issuer's Employee Stock Option Plan for self

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $ 20.54 (8) 02/18/2011   A   5,049     (9) 02/18/2021 Common Stock 5,049 $ 0 5,049 D  
Stock Option (right to buy) $ 22.42 (8)               (10) 05/19/2020 Common Stock 3,000   3,000 D  
Stock Option (right to buy) $ 33.43 (8)               (11) 05/21/2018 Common Stock 4,639   4,639 D  
Stock Option (right to buy) $ 35.23 (8)               (12) 02/16/2017 Common Stock 5,000   5,000 D  
Stock Option (right to buy) $ 39.13 (8)               (13) 02/17/2016 Common Stock 2,500   2,500 D  
Stock Option (right to buy) $ 32.39 (8)               (13) 02/18/2015 Common Stock 2,500   2,500 D  
Stock Option (right to buy) $ 21.66 (8)               (13) 02/20/2014 Common Stock 2,000   2,000 D  
Stock Option (right to buy) $ 15.85 (8)               (13) 02/21/2013 Common Stock 400   400 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCHARMER NEAL R
118 SECOND AVENUE SE
P.O. BOX 73909
CEDAR RAPIDS, IA 52407-3909
      VP/General Counsel/Corp Sec  

Signatures

 /s/ Neal R. Scharmer by Barrie W. Ernst, Attorney-in-Fact   03/02/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The deemed execution date of this transaction is the statement date as provided by the Company's 401(k)Plan trustee/administrator.
(2) Shares acquired through payroll deduction and participation in Company's 401(k) Plan.
(3) This transaction qualifies as a non-discretionary transaction from a tax-qualified plan and is voluntarily reported on Form 4.
(4) Represents the approximate number of shares acquired by the trustee/administrator of the Company's 401(k)Plan for the reporting person's benefit, based on a statement of the plan trustee/administrator.
(5) The price per share is based on a statement provided by the Company's 401(k) Plan trustee/administrator.
(6) The number of securities shown as being held in or acquired by the Company 401(k) account for Mr. Scharmer's benefit are the approximate number of shares of common stock for which Mr. Scharmer has the right to direct the vote under the 401(k) plan. Such shares are not directly allocated to plan participants, but are instead held in a unitized fund consisting primarily of common stock, together with a small percentage of short-term investments. Participants acquire units of this fund.
(7) The total number of securities beneficially held directly by the reporting person following the reported transaction includes: 1,974 shares of restricted stock issued under the Company's 2008 Stock Plan which vest, subject to certain conditions, on 02/18/2016 and 1,268 shares of restricted stock issued under the Company's 2008 Stock Plan which vest, subject to certain conditions, on 05/21/2013.
(8) The exercise price of these stock options represents the closing price of issuer's common stock on the grant date.
(9) 5,049 options become exercisable in four equal installments of 1010 options each on 02/18/2012, 02/18/2013, 02/18/2014 and 02/18/2015 and one installment of 1009 options exercisable on 02/18/2016.
(10) 3,000 options become exercisable in five equal installments of 600 option shares each on 05/19/2011, 05/19/2012, 05/19/2013, 05/19/2014 and 05/19/2015.
(11) 1,856 options currently exercisable; 928 options become exercisable on 05/21/2011; 928 options become exerciseable on 05/21/2012; and 927 options become exercisable on 05/21/2013.
(12) 4,000 options currently exercisable and 1,000 options become exercisable on 02/16/2012.
(13) All options currently exercisable.
 
Remarks:
This amended report is filed to correct the number of stock options issued to the Reporting Person on February 18, 2011 and to correct the number of exercisable stock options held by the reporting person that expire on February 21, 2013.

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