Florida OIR News

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 …

2017 Florida Insurance Legislation to Watch

The Florida insurance market has been a hotbed of controversy over the last year, and many are looking at the Florida State Legislature to alleviate some of the concerns coming from consumers, businesses and the industry itself. From insurance fraud …

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 …

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 …

Heritage Revokes 14.9% Rate Increase Filing for Florida Homeowners

After review by the Florida Office of Insurance Regulation (OIR) and much criticism from Florida stakeholders, Florida-based Heritage Property & Casualty Company has withdrawn its request for an overall 14.9 percent increase of homeowners insurance rates in the state. The …

Florida’s Citizens Says AOB Abuse to Blame for Statewide Rate Increase of 6.8%

Citizens Board of Governors has approved recommended rates for 2017 that equal an average rate increase of nearly 7 percent statewide. The company said the increase is a necessary response to rising non-weather water losses and assignment of benefit (AOB) …

Citizens Implements Contract Changes to Address Florida Water Losses

Citizens Property Insurance Corp. is alerting policyholders to important policy changes beginning July 1 as part of the state-backed insurer’s efforts to improve communication and protect customers early in the claims process while controlling costs that it has said threaten …

Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims

Abuse of assignment of benefits (AOB) from water loss claims has become a full-blown Florida insurance crisis that will mean higher insurance rates next year and for the foreseeable future for every Florida policyholder, according to Citizens Property Insurance Corp. …

Florida’s Citizens Pushes Policy Changes to Address Rising Water Loss Claims

Citizens Property Insurance Corp.’s board of governors has approved a slate of recommendations aimed at reducing the impact of what it calls skyrocketing water-loss claims that could reverse progress made in returning Citizens to the state’s insurer of last resort. …