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AOB

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

in 2017 by

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 much for insurance? The Wall Street Journal says Flores is at fault,” reads one side of the mailer. The Senate Banking and Insurance Committee last…

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Consumer Protection Coalition launches ad on Assignment of Benefits claims

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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 repair. Often, AOB claims are costlier and many end up in court in order to get insurers to pay up. The coalition includes several insurance…

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Wall Street Journal op-ed highlights assignment of benefits abuse

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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 the unnatural disaster known as plaintiff’s attorneys too?” AOB is a system where homeowners can sign over the rights to their insurance policy after a…

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

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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 a policyholder to collect their legal fees from their insurer if they win a claims dispute. But, if the policyholder loses in court, they don’t…

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Citizens Insurance to spend $1.8M for investigating water damage claims

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The Citizens Property Insurance Corp. board of governors Tuesday approved a $1.8 million contract with a company that will examine escalating water damage claims from policyholders and determine whether the charges are excessive. “The goal is to identify inflated or excessive charges on invoices from contractors that have performed water damage restorations for Citizens’ policyholders and to contest or adjust invoices so it comports with industry standards,” said Jay Adams, Citizens’ chief of claims. Without debate, the board unanimously approved…

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Today on Context Florida: Assignment of benefits, primary Karma, human trafficking, dirty caucusing and water law facts

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Today on Context Florida: When consumers experience water damage unconnected to hurricanes, Alan Daley says they usually call a plumber, a roofing specialist or their insurance company to repair the damage. The plumbing or roofing contractor will probably suggest that the consumer assign the insurance benefits, so that payment for any work will go directly from the insurer to the contractor – a process known as “assignment of benefits” (AOB). Like in 49 other states across the U.S., the process is…

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Insurance, real estate coalition seeks homeowners insurance reform in 2016

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More than a dozen Florida real estate, construction and insurance groups announced Tuesday that they are teaming up to push for homeowners’ insurance reform in the 2016 Legislative Session. The Consumer Protection Coalition seeks to curb a practice known as “assignment of benefits,” where owners sign away their insurance policy to a third party who will collect on their behalf. The 17-member coalition, led by the Florida Chamber of Commerce, contends AOB is being abused to extract more cash from…

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