The Flood Agency, which offers private flood coverage that are backed by the surplus lines insurer Lloyd’s Private Flood, announced it will stop writing new business in the Tampa Bay region in order to manage its exposure. The decision affects Pinellas, Hillsborough, Pasco, Sarasota and Manatee counties.
Flood Agency President Evan Hecht said the decision to stop providing new policies in those areas is based on the need to balance Lloyd’s exposure, which is now at $250 million in those areas.
Was this article valuable?
Here are more articles you may enjoy.
Cloudy Future for Bourbon Has Jim Beam Closing Distillery for a Year 
Severity Was Up, But Will Falling Claims Volume Impact the Profession? 
Longtime Motel 6 Spokesman Tom Bodett Settles Lawsuit Against Chain 
Howden Buys M&A Insurance Broker Atlantic Group in US Expansion From This Issue
