- 19 Jan
Assignment of Benefits Abuse Grows Worse
As the Florida Legislature goes through the process of potentially reforming insurance, some recent news from Florida’s regulatory agency suggests that in the meantime, assignment of benefits (AOB) abuse continues to worsen.
According to an article published on South Florida Business Journal, the Florida Office of Insurance Regulation (FLOIR) issued a report earlier this week indicating that the number of claims involving water has increased by more than forty percent since 2015. The severity of these claims has also jumped to nearly twenty percent. Coincidentally, the report was published the same day the Florida House of Representatives passed HB 7015 which aims to curb AOB abuse.
Florida consumer groups and insurance companies have spent years asking for legislation to deal with AOB. The groups believe contractors, water mitigation firms, and roofers are abusing or taking advantage of AOB by increasing their costs as well as attorneys who are then suing the insurer.
To read more about the story, visit https://www.bizjournals.com/southflorida/news/2018/01/17/regulator-says-benefits-abuse-getting-worse.html.
This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.