assignment of benefits (AOB) News

Just a Few Thoughts About Assignments of Benefits

You may have figured out that I like to watch the insurance news. I mean, I work for the company that produces my favorite insurance news (Insurance Journal) and I don’t say that just because I work here. I was …

Assignment of Benefits Abuse Tops Florida News for 2017

Florida’s ongoing battle with assignment of benefits (AOB) claims abuse was not a new topic in 2017, but it was certainly one of the hottest ones for Southeast readers. From threats of insurer ratings downgrades caused by the escalation in …

Florida’s Citizens Expects Policy Count Increase in 2018, Plans Claims System Upgrade

Citizens Property Insurance Corp., the Florida state-run insurer of last resort, is anticipating its policyholder count will increase in 2018 for the first time since its efforts to shed policies through depopulation began several years ago. As it moves on …

A.M. Best: Hurricane Irma to Test Florida Market Newbies

Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the financial wherewithal of some local and …

Florida on Alert for AOB Abuse as Irma Recovery Begins

As Florida residents return home after being evacuated by Hurricane Irma, the pressure is on the insurance industry to keep a bad situation regarding assignment of benefits abuse in the state from getting worse. Florida regulators, carriers, industry trade groups …

Florida Regulators Set Date for Citizens Public Rate Hearing

The Florida Office of Insurance Regulation (OIR) announced it will conduct a rate hearing on Aug. 31, 2017 to receive public comment on Citizens’ proposed rate changes for its business in the Coastal Account (CA), Commercial Lines Account, and Personal …

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 …