Florida AOB abuse News

Citizens to Request 8.2% Rate Increase from Florida Regulators

Citizens Property Insurance Corp. will file for a statewide average increase of 8.2 percent for personal lines policyholders – homeowners, condominium owners and renters. The Florida insurer of last resort’s Board of Governors on Wednesday approved a 2019 rate package …

I.I.I. Study Cites AOB Abuse for Increasing Insurance Costs In Florida

A new study released by the Insurance Information Institute (I.I.I.) finds that Florida’s assignment of benefits (AOB) crisis has cost consumers billions of dollars in unnecessary litigation and inflated claim costs as the abuse continues to spread statewide. “In Florida, …

Florida Fraud Strike Team Targets Unlicensed Contractors in Panhandle

Three contractors conducting business in Leon, Gadsden, and Gulf counties have been removed from the Panhandle by the Florida Department of Financial Services’ Disaster Fraud Action Strike Team for unlicensed activity following Hurricane Michael, according to a statement from Florida …

Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael

In an effort to keep the Florida assignment of benefits (AOB) crisis from further worsening in the state, Florida’s insurance industry, regulators and consumer advocates are on high alert for AOB activity in the wake of Hurricane Michael and working …

Florida Appeals Court Deals Insurers a Win in AOB Fight with Policy Language Ruling

In a significant turn of events in the insurance industry’s fight against Florida assignment of benefits (AOB) abuse, Florida’s Fourth District Court of Appeal (DCA) has ruled that an insurer’s anti-assignment provision was not prohibited. But the battle isn’t over …

How the Florida Insurance Industry Hopes to Rein In AOB Crisis

“I think the number one thing the insurance industry can do is link AOB (assignment of benefits) to the impact that it’s having on the individual consumer and the huge impact it’s having on the premiums that the consumer’s paying,” …

Florida’s Citizens Delays Decision on Proposed 2019 Rate Increases

Florida’s Citizens Property Insurance Corp. will wait until December to determine its 2019 insurance rates and whether it will approve a proposed 7.9 percent statewide increase for homeowners policies. The decision to defer action on the 2019 proposed rates came …

What the Florida Industry Needs to Know for the 2018 Hurricane Season

The 2018 hurricane season is officially underway, even as the dust continues to settle on the 2017 hurricane season — one of the costliest hurricane years on record — that brought devastation to Florida from Hurricane Irma. Meanwhile, the Gulf …

Fraud, Lawsuit Abuse Earns Florida No. 1 Spot on ‘Judicial Hellhole’ List

Florida’s number one Judicial Hellhole ranking for 2017 from the American Tort Reform Foundation (ATRF) is unlikely to be an achievement the state will celebrate any time soon. Quite the opposite, according to business groups like the Florida Chamber of …

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

A Florida appeals court has sided with the state’s insurance regulator in rejecting policy language filed by a Florida homeowners insurer to restrict the use of assignment of benefits. The decision could have a significant impact on the Florida insurance …