Florida Appeals Court, Regulator Reject Policy Language Aimed at Curbing AOB Abuse

By | January 10, 2018

  • January 11, 2018 at 5:01 pm
    Ivan del Jesus says:
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    Insurance companies need to use the invisible hand of the market to solve the AOB problem.

    A $1,000 bonus to every agent or CSR that actively informs clients on the pitfalls of signing and AOB

    Agents and CSRs will be paid $1,000 to do What agents do best: To Inform and advise clients

    The reduction on the Cost of Claims would be well worth it.

    • January 12, 2018 at 10:53 am
      Phil Pertnoy says:
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      The problem is that you can explain all you want to the homeowner (which we do in letters and e-mails and incoming customer phone calls) until you are blue in the face, the majority of them don’t listen to you ,why ? cause they are conditioned by all the dam attorney commercials and third party adjusters companies ,telling you how much additional money they can get you (which is usually a crock anyway) and good old fashioned greed sets in ..That is how they hook you !! They should run some commercials showing what really happens to your home after one of these companies rips through your house and the insurance company refuses to pay for the additional problems that were created ,and your home is now uninhabitable ,uninsurable ,while you await your date in court … Just like Farmers Insurance commercial “been there seen that” I’ve seen it happen twice !!

    • January 12, 2018 at 11:06 am
      SWFL Agent says:
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      Shouldn’t have to pay agents a bonus to do their job.

  • January 12, 2018 at 11:17 am
    Boonedoggle says:
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    The Florida AOB issue could be resolved if the insurers would make some SIMPLE business decisions. Somehow we are forgetting Insurance 101.

    Let their actuaries determine the necessary rate levels to yield appropriate profit. If rate adequacy can not be acquired, then DON’T WRITE BUSINESS IN THE STATE.
    Problem solved!

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