- August 17, 2018
- Posted by: Jeromy Lukenbaugh
- Category: press releases
OKLAHOMA CITY, OKLAHOMA – (August 6, 2018) – Midlands Management Corporation announced the launch of the new Midlands Municipal Tax Recovery product available in most states to city governments. The first of its kind, the Municipal Tax Recovery product is exclusive to Midlands producers and affiliated associations.
The program offers mono-line coverage for municipalities whose tax revenue comes to a screeching halt after some natural disaster, explosion, fire, etc. causes damages enough to shut down the business for a time. Municipalities will be reimbursed retail and hospitality sales tax revenue lost for each business itemized on the policy. With over 25 years experience in providing innovative solutions to the public sector this exclusive program is a natural extension of Midlands expertise.
Catastrophic events caused by severe weather, fire or explosion can create havoc for a municipality’s revenue stream. Tax revenue derived from retail outlets, hotel/motel taxes and others are the financial lifeblood of cities and towns across the country. When these tax payers are forced out of business by a catastrophic event, the revenue stream immediately dries up; therefore, Midlands is rolling out a Sales Tax Recovery policy for the benefit of Municipal clients across the country.
-Charles C. Caldwell, CEO
Midlands Management Corporation is a leader in the wholesale brokerage and insurance services industries, with specialty in work injury benefits, especially Excess Workers’ Compensation, Texas Non-Subscriber and Occupational Accident. Shaped by values and backed by expertise, Midlands offers superior program management capabilities and innovative insurance solutions. Find out more at midlandsmgt.com.