Evidence has surfaced that Florida insurance companies claimed monetary losses while redirecting billions of dollars to investors and affiliates.
A study revealed that Florida-based insurers’ executives took exorbitant amounts of money from their companies following Hurricanes Irma and Michael.
What’s happening?
As the Tampa Bay Times reported , the 2022 study has only recently been released after a two-year public record wait.
The study explained how, during Florida’s insurance market’s post- hurricane crisis, company leaders distributed $680 million to shareholders and diverted billions of dollars to affiliate companies…