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.
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