This is a special edition of our LMA Newsletter, devoted to the topic of the ongoing misrepresentation of Florida’s property insurance companies. It started in late February with the Tampa Bay Times story that Florida companies “diverted” billions of dollars to their Managing General Agents (MGAs), other affiliates, and shareholders from 2017-2019 while at the …
If you haven’t read the February 22 article from the Tampa Bay Times, it’s worth reviewing. Titled Florida insurance companies steered money to investors while claiming losses, study says, the article presents a narrative that suggests Florida property insurers were shifting billions to Managing General Agents (MGAs) and affiliates …
Given the Tampa Bay Times article and the many questions it’s raised surrounding Florida insurance companies and the role that Managing General Agents (MGAs) play in their operation, I sat down with a veteran Florida insurance agent to get some answers. What is an MGA? What’s its function in our …
