assignment of benefits abuse News

Florida Insurers Place All Options on Table to Address AOB Abuse

Florida’s home insurers hope the public doesn’t blame them as they implement rate increases, initiate coverage changes and nonrenew policies. They say they have no choice after the Florida Legislature for the fifth year in a row failed to address …

Florida’s Citizens CEO Gilway Responds to Claims About Managed Repair Program

The following letter to the editor was written by Citizens Property Insurance Corp. President, CEO and Executive Director Barry Gilway in response to an opinion piece from the Florida Association of Public Insurance Adjusters that ran on July 6, 2017 …

Opinion: Floridians Will Pay More For Less Under Citizens Managed Repair Program

Florida is famous for its catastrophic hurricanes, however, we also have our fair share of daily claims such as fire, vandalism and water losses. Florida is now becoming known for what is referred to as the “Assignment of Benefit (AOB) …

Florida’s Citizens Approves Policy Changes, 5.3% Statewide Rate Increase for 2018

Homeowners in South Florida, as well as in many other parts of the state, should expect additional rate increases next year from the state-run insurer of last resort. Citizens Board of Governors approved recommended rates and policy changes for 2018 …

Florida Lawmakers Once Again Fail to Pass AOB Claims Reform

Florida lawmakers have once again let slip an opportunity to address insurance claims abuse, as legislation failed to make it through the Senate before the 2017 legislative session ended Friday. This is the fifth consecutive year that a bill on …

Florida House Advances Bill Targeting Claims Abuse, But Senate Battle Looms

A bill aimed at decreasing insurance claims abuse in Florida has made it through the Florida House, and the industry’s hope for assignment of benefits reform now officially rests with the state Senate. The Florida House of Representatives advanced House …

Citizens Seeks Florida Agents’ Help Fighting Water Claims Abuse

As the Florida property market fights what has so far been a losing battle against attorneys and unlicensed contractor firms over water loss claims and assignment of benefits (AOB), Citizens Property Insurance Corp., Florida’s property insurer of last resort, has …

Citizens Posts Net Loss of $27M for 2016; Says Water Losses, AOB Abuse to Blame

Citizens Property Insurance Corp. will post a net loss for 2016, its first loss in more than a decade, as water loss claims, assignment of benefit (AOB) abuse and litigation costs increasingly impact the company’s bottom line, according to a …

Florida’s AOB Abuse by the Numbers: ‘Alarming Trend’ Reaches Crisis Point

Assignment of benefits abuse has escalated over the last five years to the point where it is now a serious disruption to Florida’s insurance market. The abuse, which is especially rampant in South Florida, stems from unscrupulous contractors and attorneys …

Top Florida Stories of 2016: The AOB ‘Insurance Crisis’

Assignment of benefits abuse has become such a well-known problem in the state of Florida this year that it now just goes by the nickname “AOB.” The issue with AOB comes from when a policyholder suffers a loss, such as …