June 18, 2019
The countdown is on for Florida assignment of benefits (AOB) reform that will take effect July 1, and the insurance industry is getting ready to respond to new requirements as a result of the law as well as evaluating how …
May 24, 2019
Long-awaited reforms for Florida’s assignment of benefits (AOB) crisis that the insurance industry and consumer advocates say has led to less coverage and higher rates for Florida property owners will officially become law July 1. Florida Governor Ron DeSantis signed …
April 25, 2019
Florida Governor Ron DeSantis has signaled his support of a property insurance reform bill passed by the Florida Senate Wednesday, saying in a statement Wednesday he will sign the legislation that the insurance industry and consumer advocates say will stem …
April 24, 2019
After seven years of failed attempts, Florida legislators have passed property insurance reform to address the abuse of a policyholder benefit known as assignment of benefits (AOB). The insurance industry and consumers advocates say the abuse has caused higher insurance …
April 18, 2019
A bill the Florida insurance industry says will help reign in assignment of benefits abuse that is plaguing the state and raising insurance costs has passed its final committee in the Florida Senate and is now headed to the full …
April 12, 2019
Assignment of benefits reform legislation progressed in the Florida legislature yesterday. Lawmakers passed House Bill 7065, one of two key pieces of insurance industry-supported legislation – the other being its companion Senate Bill 122 – that Florida’s insurance regulator and …
March 19, 2019
Florida’s “one-way attorney fee” statute enacted to protect Florida policyholders from large insurance companies has instead spawned a huge industry of assignment of benefits (AOB) predators who take advantage of policyholders and threaten the livelihood of hundreds of independent insurance …
March 15, 2019
Just over a week into the 2019 legislative session, insurance industry-supported bills aimed at reforming Florida assignment of benefits (AOB) abuse are making progress in the state legislature. Lawmakers in the Florida House of Representatives and Senate have each advanced …
March 14, 2019
As Florida lawmakers weigh reform for the state’s assignment of benefits crisis, the insurance industry and regulators are closely monitoring a case addressing post-loss policy language that is currently before the state’s high court. Initial briefs are being filed in …
March 12, 2019
After reviewing the year-end financial statements of the Florida-based carriers it rates, Ohio-based ratings agency Demotech is warning that many insurers could see underwriting and operating losses in their year-end financial statements and that those insurers should be prepared to …