Those hoping the Florida Legislature would do something about rising insurance costs and the assignment of benefits (AOB) situation may be disappointed to find out that they’ll need to wait until 2019. According to a recent Sun Sentinel article, the legislative session came to an end this past weekend, leaving the much-debated topic of insurance unresolved.
Because the Florida Legislature did not act on AOB reform, at least one insurance company rep warns that it has essentially approved insurance rate increases anywhere between fifteen to thirty percent for Floridians, particularly the ones in the tri-county area. This year’s legislative session is the fifth one in a row where claims abuse restriction proposals have been left unresolved.
This year is also the second where plaintiff attorneys may have played a role in persuading the Florida Senate not to continue with a bill aimed at restricting access to so-called, one-way attorneys’ fees. Insurance companies blame the crisis on abuse of a law that permits policyholders suing their insurers to collect legal fees from the insurers should they win but prevents insurers that win suits from obtaining their legal fees from policyholders.
You can read more at the following source: http://www.sun-sentinel.com/business/fl-bz-insurance-reform-failures-20180312-story.html.
This information is provided by Miami insurance lawyer 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 or a Miami insurance claims lawyer 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.