Consumer Advocate Identifies AOB Issue as a Property Insurance Priority
Insurance Consumer Advocate Sha’Ron James recently told the House of Representatives’ Banking & Insurance Subcommittee that the assignment of benefits issue is a priority for her office in the 2016 legislative session due to the adverse impact it is having on consumers. While she indicated that her office is still evaluating the issue and is not ready to release its position yet, Ms. James identified this issue as one of the highest legislative priorities she will have in her new role as Insurance Consumer Advocate.
The legislature considered bills in the 2015 session that would have placed parameters on assignments. However, the bills failed and the problem continues to grow. The impact on consumers was seen in Citizens’ Property Insurance Corporation’s recent rate filings, in which South Florida customers clearly are paying more for insurance than otherwise would be the case due to the large number of water damage claims and assignments in that area.