Florida Insurance Companies Hide BIG Profits to Raise Homeowners Rates

Meteorology Matters summarizes the findings of a 2022 report commissioned by the Florida Office of Insurance Regulation (FLOIR) analyzing fees paid by Florida domestic property insurers to their affiliates between 2017 and 2019. This internal report, recently brought to public attention by the Tampa Bay Times/Herald in a February 2025 article, reveals significant financial activity between insurers and their affiliates, including substantial net income for affiliates while some insurers experienced net losses (excluding outliers). The analysis raises concerns about the "fair and reasonable" nature of these affiliated agreements, the potential for misuse of Managing General Agent (MGA) structures, and the need for enhanced regulatory oversight.

II. Main Them ...