Sun-Sentinel Columnist Randy Schultz’s column on the Assignment of Benefits (AOB) property insurance crisis shined a light on the need for a solution to the rampant fraud and lawsuit abuse occurring in our state. But it showed a lack of understanding on how insurance works. The author also implied that the numbers produced by Florida Insurance Commissioner David Altmaier were somehow not credible.
We were surprised that Mr. Schultz’s column questioned the numbers provided by the Insurance Information Institute, which were derived from credible sources such as the Office of Insurance Regulation and Citizens Property Insurance Company’s actual reported litigation statistics. There is simply no question that both the number and severity of AOB claims and lawsuits have skyrocketed.
Meanwhile, managed repair programs guarantee that repairs will be done properly and at a fair price by prescreened licensed contractors. Policyholders are free to choose insurers who use these programs, or other insurers that don’t.
The state’s Florida-based carriers care about what happens to their customers. They are financially strong, highly regulated and take very seriously the contractual commitments they have with their policyholders.
William Stander, Tallahassee
Stander is executive director of the Florida Property & Casualty Association
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