Florida Politics - Campaigns & Elections. Lobbying & Government.

Guest AuthorAugust 31, 2017

According to a study conducted by the risk assessment group Karen Clark & Co., if Hurricane Andrew hit today, it would cause nearly $50 billion of insured losses, compared to its $15.1 billion in 1992. Indeed, Florida enjoys a relatively stable insurance market with more companies writing more policies. However, there are concerns that new, untested […]

Staff ReportsApril 10, 2017

Floridians for Government Accountability is launching a direct mail campaign targeting Sen. Anitere Flores over insurance premiums. The direct mail campaign comes about a week after the Wall Street Journal ran an editorial that indicated Flores, the chairwoman of the Senate Banking and Insurance Committee, would be to blame if insurance rates increased. “Paying too […]

Staff ReportsMarch 29, 2017

Citizens Property Insurance Corp. lost money for the first time in a decade because of water loss claims, assignment of benefits abuse, and rising litigation costs, the company said Wednesday. Staff at Florida’s insurer of last resort told its board of governors that they expect to post a $27.1 million loss for 2016. “Every year, we […]

Drew WilsonMarch 27, 2017

The Consumer Protection Coalition launched a radio and television ad campaign Monday to warn homeowners of how Assignment of Benefits abuse could cause insurance rates to skyrocket in Florida. Assignment of Benefits, or AOB, is a system where homeowners can sign over their insurance policy to a contractor or lawyer in exchange for a quick […]

Guest AuthorMarch 20, 2017

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Florida homeowners need to start taking action regarding an escalating problem that will lead to increases in their insurance premiums in the near future. Abuses of the Assignments of Benefits (AOB) process have already led to substantial insurance rate increases in South and Central Florida and it is only a matter of time before those […]

Peter SchorschMarch 15, 2017

An op-ed in The Wall Street Journal Tuesday called out the assignment of benefits (AOB) system in Florida, saying the abuse of AOB by trial lawyers will get Florida taxpayers “whacked with Category 5 bills.” “Florida homeowners already face risks from hurricanes, hail storms and other natural phenomena,” the article states. “Do they need to face […]

Michael MolineMarch 14, 2017

The Legislature has been arguing over assignment of benefits reform for years, to no avail. Tuesday, Tampa Republican James Grant found out why — the hard way. The lesson was delivered by the House Insurance & Banking Subcommittee, which defeated by a single vote Grant’s bid to resolve the issue by boosting consumer protections and […]

Guest AuthorMarch 14, 2017

A state law that was originally intended to give individual policyholders special rights in disputes with their insurance companies is instead being used by some repair vendors and their lawyers to generate a self-serving windfall. The problem is serious and growing, and it’s driving insurance costs higher and higher. The so-called “one-way attorney fee” allows […]

Michael MolineSeptember 28, 2016

The directors of Florida’s property insurer of last resort voted Wednesday to recalibrate consumer incentives to discourage policyholders from ceding damage claims to third parties, including attorneys and contractors. Under new incentives, Citizens Property Insurance Corp. would pay for initial repairs to non-weather-related water damage — removing any water and drying out the property. These […]

Michael MolineSeptember 27, 2016

Florida’s property insurer of last resort fears lingering damage from Hurricane Hermine — in the form of third-party claims officials and business leaders blame for escalating premiums. Thus far, of 837 Hermine-related insurance claims, third-party public adjusters filed seven — and five involved assignment of benefits agreements, or AOBs, staff members told a Citizens Property […]

Tag: AOB

Christian Cámara: In Florida insurance market, all is not equal

Floridians for Government Accountability launches mail campaign targeting Anitere Flores over AOB

Citizens Insurance lost $27.1 million during 2016; first loss in a decade

Consumer Protection Coalition launches ad on Assignment of Benefits claims

Maria Wells: Assignment of Benefits — A growing problem for Florida families

Wall Street Journal op-ed highlights assignment of benefits abuse

AOB reform passes House subcommittee, but it wasn’t pretty

William Large: Florida must end assignment of benefits abuse, self-serving windfalls

Citizens Insurance juggles incentives in managed repair program

Citizens Insurance braces for third-party Hermine claims