assignment of benefits (AOB) News

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 …

Florida Launches AOB Resource, Education Webpage for Consumers

The Florida Office of Insurance Regulation (OIR) has launched a new webpage as part of its efforts to educate Florida consumers about the state’s ongoing challenges with assignment of benefits abuse. The AOB resource webpage has been added to the …

Florida Senator Alleges ‘Smear Campaign’ After Industry-Backed AOB Bill Stalls

A bill backed by the insurance industry to curb the abuse of Florida’s one-way attorney fee statute in assignment of benefit claims has stalled as lawmakers opted to instead advance what the insurance industry and the state’s regulator feel is …

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 …

First Florida Bill Addressing AOB Introduced for 2017 Session

Florida now has legislation backed by the top Florida insurance regulator and the industry that promises to curtail homeowners insurance abuse under the assignment of benefits (AOB) feature. Senate Bill 1038, filed Feb. 17 by State Sen. Dorothy Hukill and …

Heat Is on Florida Lawmakers to Fix Assignment of Benefits Crisis

Florida’s insurance industry will apply significant pressure on lawmakers to pass assignments of benefit (AOB) reform in the upcoming legislative session as consumers face rate increases and a looming coverage availability crisis due to serious and costly abuse of the …

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 …

Demotech Suspends Florida Insurer Rating Criteria; Says Downgrades Coming

Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers get ready to announce their 2016 …