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Governor Ron DeSantis has signed HB 7065 reforming the use of assignments in Florida’s property insurance market. He also signed HB 337 relating to Florida’s court system and also accelerating the effective date of HB 7065’s attorney’s fee revisions. Most of the law changes relating to assignments of benefits (AOB) take effect July 1. However, […]
The Florida legislature has passed HB 7065 designed to curb abuses with “assignments of benefits” in Florida’s property insurance market. Among other things, the bill addresses problems with Florida’s one-way attorneys’ fee statute arising when commercial vendors use the statute in suits against insurers. The bill also allows insurers to adopt policy forms restricting assignments […]
The Florida House of Representatives has passed its version of Assignment of Benefits (AOB) reform. The bill has been a priority of key policymakers, including CFO Jimmy Patronis and Insurance Commissioner David Altmaier. You can learn more here. The bill is aimed at reducing abuses that have plagued the Florida property insurance market when consumers […]
Florida’s Second District Court of Appeal has upheld the ability of a policyholder to make multiple assignments under a homeowners insurance policy. Nicon Construction v. Homeowners Choice Property and Casualty Insurance Company involved a policyholder’s issuing assignments of benefits to two separate vendors. The insurer argued that upon the policyholder’s assigning the policy rights to […]
Citizens Property Insurance Corporation, Office of Insurance Regulation, Travis Miller, Radey, Florida Senate, attorneys fees, Florida House of Representatives, radeylaw, water damage, assignment of benefits, AOB, water damage claims
Just two weeks into the 2018 legislative session, the Florida House of Representatives and Senate continue to take distinct approaches to the “assignment of benefits” concerns affecting Floridians through increased insurance premiums. The House passed a bill containing reforms directed at the root of the problem– the one-way attorneys’ fee statute against insurers, which has […]
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 […]
Insurance Consumer Advocate Robin Westcott has requested information from insurers writing personal injury protection (PIP) auto insurance. The request for information, made through an open letter to the auto insurance industry, is designed to facilitate the Consumer Advocate’s analysis of problems with PIP and potential solutions. As noted in her letter, the Consumer Advocate has […]
