Trident Reciprocal Exchange is one of the newcomers to the Florida block. It was launched in 2024 as Florida’s long-troubled property insurance market began to thaw following regulatory changes that curbed rising claims in the state.
As of this summer, the counterparty had more than 24,000 policies, mostly homeowners insurance. That’s a 45% increase from last year, state data reports show.
“We’re doing well,” said Chris Johnson, Trident’s chief executive.
But the company’s history has been marked by great turmoil and many legal disputes that had nothing to do with claims or coverage: Maria Moller, Trident’s former CEO and co-founder, a veteran of the Florida insurance business, was fired in early 2025. In a lawsuit, Trident Group Holdings accused Moller of “brazen self-dealing” in which she allegedly sent hundreds of thousands of dollars to an information technology company she and her husband owned – all without Trident’s board of directors’ knowledge or consent.
That lawsuit in Seminole County is still pending. A judge has agreed to send it to arbitration. In a separate lawsuit, Moller sued Trident over her termination, alleging a breach of an employment contract and seeking damages.
This case also went to arbitration. In July, the referee awarded Moller nothing.
“Because Plaintiff’s termination was properly authorized and legally effective, Plaintiff is not entitled to compensation and benefits after her termination date pursuant to the Executive Agreement. For various reasons, Plaintiff is also not entitled to incentive compensation,” the arbitrator, Orlando attorney Garly Salzman, wrote in his decision.
The big question at the time was whether Moller, the losing party in this case, would have to pay the other side the legal fees incurred in the months-long trial and arbitration. On October 16, Salzman responded, ordering Moller to pay approximately $337,800 in Trident legal fees and an additional $127,476 in compensation and expenses for the arbitrator himself.
“The award you refer to relates solely to my employment arbitration, which we are challenging due to serious concerns about the arbitrator’s bias and failure to disclose conflicts of interest,” Moller wrote in an email to Insurance Journal.
Arbitral awards often cannot be appealed to a court. And a disqualification claim may have little chance of success, lawyers said.
Other litigation is expected to continue for months or longer. Moller, who was previously compliance officer for Florida-based Frontline Insurance and Cabrillo Coastal General Insurance Agency, said this week that she has opened another front. She is now asking an Orange County district judge to dissolve Trident Group Holdings, the holding company for Trident Reciprocal.
“This process has an accelerated legal framework and we expect it to progress quickly,” she said.
Lake Mary-based insurance company Trident called the lawsuit “nonsense,” noting that Moller had previously filed a similar lawsuit in the same county. The judge summarized the complaints.
Johnson, the chairman of Trident Reciprocal, said the whole episode was “sad” and ironic: the insurer had offered to settle with Moller early on. Now she faces high legal fees and potentially more costly litigation.
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