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assignment of benefits - page 5

‘Assignment of benefits’ a bonanza for trial lawyers and vendors, bad for consumers

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Bills are gaining momentum in both the House and Senate and to rein in a rapidly growing insurance scam in which sketchy trial lawyers and remediation firms are getting stressed-out homeowners to sign over their policy benefits and rights after a burst water pipe or similar home emergency. Assignment of Benefits (AOB) is a long-used legal tool meant to allow vendors to get paid promptly for emergency repairs to a home without having to get the policyholder directly involved. But in…

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