A Florida House of Representatives panel went straight to the source of a consultant’s report that has caused widespread concern among lawmakers about insurance company profit-shifting.
But the hour-long, web interview with Arizona-based consultant Jan Moenck shed only limited light on the appropriateness of Florida property insurance holding companies paying large fees to their managing general agents while some carriers struggled to stay solvent.
The testimony from Moenck came after the House Commerce Committee’s Subcommittee on Insurance and Banking voted 17-1 in favor of House Bill 881, which would require more transparency, oversight and limits on MGA fees, and would potentially lower the bar for plaintiffs to show