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Michael MolineOctober 25, 2016

Florida Insurance Commissioner David Altmaier outlined his legislative priorities Tuesday during an industry conference, promising above all to work with industry stakeholders in drafting responses to market pressures. “One of my highest priorities — higher than any of the legislative initiatives I just mentioned — is to make sure as we move forward with those […]

Michael MolineOctober 10, 2016

Citizens Property Insurance Corp. was quick to warn policyholders against signing away their rights in exchange for quick repairs following Hurricane Matthew. Meanwhile, the company announced the opening of two emergency operations centers to assist policyholders on the Space Coast. Florida’s insurer of last resort issued a press release Sunday urging policyholders to call the company […]

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 […]

Michael MolineSeptember 16, 2016

State regulators approved premium increases averaging 6.4 percent on homeowner policies issued by Citizens Property Insurance Corp., Florida’s state-run insurer of last resort. The Office of Insurance Regulation pared down that increase slightly from the 6.9 percent Citizens sought during a rate hearing last month. You can read the order here. The office approved rate […]

Michael MolineSeptember 15, 2016

Heritage Property & Casualty Insurance Co. has requested premium increases averaging nearly 10 percent on most Florida policy renewals effective on Dec. 1. The new rates would cover the approximately 68,200 homes and condo policies Heritage acquired last year from Citizens Property Insurance Corp. Citizens, the state-run insurer of last resort in Florida, is pursuing […]

Peter SchorschSeptember 2, 2016

As the Sunshine State enters peak hurricane season, a consumer advocacy group is calling on state lawmakers to “get serious’’ about insurance fraud related to Assignment of Benefits, an increasingly widespread abuse that could raise costs for all Floridians. That’s the position of the Consumer Protection Coalition, which claims AOB abuse has led to skyrocketing […]

Michael MolineAugust 18, 2016

Don’t blame us for rising premiums, administrators of Florida’s high-risk property insurance pool told state regulators Thursday — blame lawyers and unscrupulous building contractors. And a bunch of burst pipes and overflowing washing machines in South Florida. John Rollins, chief risk officer for Citizens Property Insurance Corp., pointed to an increased use since 2013 of […]

Guest AuthorJuly 26, 2016

Hats off to Florida’s Insurance Consumer Advocate Sha’Ron James. Her forum on the explosion of water claims, held June 14 in Boca Raton, shows determination to help consumers despite politics that have blocked even one floor debate in the Florida Legislature. Water losses could be the worst consumer rip-off ever. Reports from the Office of Insurance […]

Drew WilsonMarch 11, 2016

The Legislature didn’t pass any assignment of benefits legislation in the 2016 Session, and the Florida Property and Casualty Association said property owners can thank Miami Republican Sen. Miguel Diaz de la Portilla when their insurance premiums go up. The group described assignment of benefits, whereby policyholders can sign over their rights to a third party to get home […]

Tag: assignment of benefits
Image via Fresh Take Florida.

David Altmaier outlines legislative priorities at insurance conference

Citizens Insurance, regulators warn of fraud post-Hurricane Matthew

Citizens Insurance juggles incentives in managed repair program

Citizens Insurance braces for third-party Hermine claims

Citizens Insurance wins 6.4 percent increase in property premiums

Insurer seeks 10 percent premium increase on home policies in Florida

Consumer Protection Coalition call for reforming Assignment of Benefits abuse in 2017 Session

Dodgy contractors share blame for high rates, last-chance insurer says

Scott Johnson: Assignment of Benefits — Florida’s worst consumer rip-off

Florida Property and Casualty Association says thank Legislature for AOB inaction