Guest AuthorJanuary 16, 2019
3min347
It's not just homeowners who are the victims.
Tag: assignment of benefits
Guest AuthorJanuary 16, 2019
Michael MolineJanuary 16, 2019
7min440
'Assignment of benefits' abuses have long plagued state.
Michael MolineJanuary 10, 2019
6min681
Through two straight years of political stalemate over assignment of benefits reform, legislative leaders have declared it would take a crisis to deliver a bill to the Governor’s office. Finally, according to state Rep. Cyndi Stevenson, “I think we’re there.” Stevenson, the new chairwoman of the House Insurance & Banking Subcommittee, spoke Thursday following the panel’s […]
Peter SchorschJanuary 8, 2019
4min396
The Personal Insurance Federation of Florida (PIFF) announced a suite of priorities for the 2019 Legislative Session on Tuesday, with assignment of benefits, or AOB, reform topping the list. “With the holidays over and the inaugural imminent, we’re ready to work with our Governor and Cabinet and the Legislature to tackle important issues affecting Floridians,” […]
Michael MolineJanuary 7, 2019
5min387
The new chairman of the Senate Banking & Insurance Committee identified his primary legislative target Monday as the “one-way” attorney fee system, which critics in the insurance and wider business community blame for escalating premiums. “If we deal with that, I think we’ll be dealing with the core issue that has been driving the rates […]
Staff ReportsNovember 28, 2018
5min376
Cracking down on unscrupulous lawyers is the key to reining in auto and property insurance rates, the James Madison Institute concludes in a policy report released Wednesday. Specifically, the white paper targets Florida’s bad-faith law, which it claims has greased litigation against insurers alleged to have treated policyholders unfairly; and its one-way attorney fees law, which […]
Staff ReportsOctober 25, 2018
3min503
A contractors’ trade association lashed out Thursday against Chief Financial Officer Jimmy Patronis over his warnings to insurance policyholders in the Hurricane Michael zone against signing assignment of benefits agreements. “Don’t let crooked contractors push you to sign away your insurance benefits,” one such advisory reads, delivered by Patronis via his Twitter feed. The message complained of […]
Staff ReportsOctober 17, 2018
4min490
Amid post-Hurricane Michael warnings to homeowners against signing assignment of benefits (AOB) agreements comes a defense of these contracts from the Restoration Association of Florida. “We are extremely concerned about multiple advisories warning homeowners not to sign any contracts containing assignment of benefits (AOB) language,” association spokeswoman Amanda Prater said in a written statement. The trade association represents water, […]
Staff ReportsSeptember 6, 2018
3min537
The Restoration Association of Florida on Thursday decried an appellate court ruling allowing insurance companies to require co-insured parties and banks holding mortgages to sign off on assignment of benefits agreements. The association “is deeply disappointed by Wednesday’s decision by the 4th District Court of Appeals, which will further hinder and delay a homeowner’s ability to […]
Michael MolineSeptember 6, 2018
4min481
A state appeals court has upheld insurance policy language barring policyholders from signing assignment of benefits agreements without the approval of co-insureds, including financial institutions holding mortgages on the property. The ruling Wednesday, written by Judge Alan Forst for a unanimous three-judge panel of the 4th District Court of Appeal, contradicts a finding by the 5th District reached […]