Booming assignment of benefits (AOB) water damage claims are placing additional pressure on Florida insurances rates. Last week, the Florida Legislature failed to advance legislation that could fix this looming insurance crisis, which is organized and carried out by unscrupulous vendors and lawyers in what has developed into a rapidly growing lawsuit-for-profit scheme. We’re seeing vendors and lawyers [...]
Earlier this week, the legislature failed to advance legislation that could fix a looming insurance crisis organized and carried out by unscrupulous vendors and lawyers in what has developed into a rapidly growing lawsuit-for-profit scheme. Read the entire press release here
“The legislature’s failure to directly address the assignment of benefits crisis will allow runaway claims to spiral further out of control,” said William Stander, executive director of the Florida Property & Casualty Association. “Coupled with the approaching hurricane season, which brings its own uncertainties, the potential for higher rates is palpable.” Read the entire blog [...]
Gov. Rick Scott and Cabinet members voted Tuesday to bolster the state's catastrophic insurance fund with $2.2 billion of added coverage in advance of what forecasters predict will be another quiet hurricane season in Florida. Read the entire article here