In an effort to keep the Florida assignment of benefits (AOB) crisis from further worsening in the state, Florida’s insurance industry, regulators and consumer advocates are on high alert for AOB activity in the wake of Hurricane Michael and working …
Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts in areas impacted by Hurricane Michael. The order by Florida Insurance …
Florida businesses could see another significant rate decrease in workers’ compensation rates next year if Florida regulators approve the latest filing from the National Council on Compensation Insurance (NCCI). But the recent trend of lower rates may not last for …
A new carrier has entered the Florida flood insurance market with a policy it says will provide better coverage than what is available from the National Flood Insurance Program. Ormond Beach, Fla.-based Security First Insurance Co. has launched an optional …
“I think the number one thing the insurance industry can do is link AOB (assignment of benefits) to the impact that it’s having on the individual consumer and the huge impact it’s having on the premiums that the consumer’s paying,” …
Citizens Property Insurance Corp. has approved a slate of policy language changes designed to protect consumers while addressing rising costs of nonweather water loss claims and related litigation that continue to drive premiums higher, according to a statement from the …
With over 900 items on the Florida legislative docket and only 60 days to consider them, it’s not surprising that many bills simply die in committee or are never seriously considered. Add to that a tragic event right in the …
Litigation from the abuse of assignment of benefits by third parties represented more than half of all Florida insurance litigation in 2017, and without a legislative fix those fueling the abuse will continue to get rich at the expense of …
Insurance agents from across Florida marched together on the state’s capitol Wednesday to deliver a message to Florida lawmakers: It’s time for assignment of benefits (AOB) reform. Carrying signs that read “STOP AOB ABUSE,” about 125 members of the Florida …
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 …
