January 17, 2018
The 2018 Florida Legislative Session is underway, and lawmakers have wasted no time taking up legislation to address the assignment of benefits crisis plaguing the state. While they debate which reform option to back, stakeholders say the Florida Legislature must …
August 15, 2017
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 …
July 19, 2017
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 …
June 21, 2017
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 …
May 9, 2017
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 …
April 27, 2017
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 …
March 29, 2017
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 …
February 9, 2017
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 …
December 13, 2016
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 …
December 8, 2016
Florida lawmakers can expect substantial pressure to tackle the assignment of benefits (AOB) and water loss claims crisis from the state’s insurer of last resort when Florida’s legislative session begins early next year. At a governing board meeting Wednesday, leaders …