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.
Wall Street Is Gaining Access to New Catastrophe Models to Help Predict Wars 
MMA Alleges Broker Patriot Poached 11 Surety Team Members 
Stellantis Tells Owners of 1.3 Million Jeeps to Park Outside Over Fire Concerns 
WTW: US Commercial Rates Continue Moderation With 2.5% Increase in Q1 From This Issue
