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In Security First Insurance Company v. OIR, Case No. 1D14-1864 (Fla. 1st DCA 2015), the 1st DCA denied Security First the right to amend its homeowner’s policy forms to restrict a policyholder’s ability to assign post-loss rights with the company’s consent. The company’s proposed language was: “Assignment of this policy or any benefit or post-loss […]
The Fourth District Court of Appeal recently issued three opinions that compound the concerns of insurers dealing with increased claims costs due to assignments of benefits. This latest setback follows an earlier decision of the Fifth DCA rejecting an insurer’s argument that post-loss assignments should be prohibited based on a contractor’s not having an insurable […]
Bills in the Senate and the House of Representatives relating to the assignment of benefits under insurance policies, or AOB as it has been called, have stalled in committees in the respective chambers. Senate bill 1064 was on the agenda for last week’s Senate Judiciary committee meeting, but the committee had a lot of bills […]
insurance company adjusters, property insurance claims, assignment of benefits, structural damage, Florida Legislature, Insurance Regulation
The Fifth District Court of Appeal upheld an assignment of benefits against a claim that the assignee lacked an insurable interest. In Accident Cleaners, Inc. v. Universal Insurance Company of North America, the Fifth District reviewed a trial court’s dismissal of Accident Cleaners’ complaint against the insurer. Accident Cleaners took an assignment of rights under […]
The House Insurance Committee will hold a workshop at 4:00 today on the assignment of benefits issue. This issue has attracted attention as one of the leading causes of upward pressure on homeowners insurance rates even when reinsurance costs have been declining and Florida has enjoyed a long run of hurricane-free years. An assignment of […]
The Homeowners’ Policy and Claims Bill of Rights Working Group is scheduled to hold a conference call Tuesday beginning at 10:00 to resume consideration of various issues relating to the homeowners insurance claims process. The Insurance Consumer Advocate previously indicated she hopes to have a draft report available by July 30, so the conference call likely will […]
