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.
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
St. Pete Mayor Accepts $275M Bid to Redevelop Tropicana Field Area for Housing 
Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling 
New Jersey Busts Alleged $8 Million Auto Theft Operation Involving 63 People From This Issue
