Chip Merlin | Property Insurance Coverage Law Blog | June 24, 2019 Assignment of benefits contracts for property damage claims may be going the way of the dinosaur in Florida. A recent Florida Insurance Bulletin notes that the new statute allows insurance companies to issue policies preventing an assignment of benefits if insurers offer a premium discount.… Continue reading Contractors Beware Taking AOB Contracts For Restoration Work: New Policy Forms Restricting AOB Contacts Discussed By Recent Insurance Bulletin
Tag: Assignment of Benefits
Florida’s “Assignment of Benefits” Bill: A Guide Through the New Statutory Framework
John David Dickenson and Chad A. Pasterneck | Property Insurance Law Observer | April 26, 2019 This week, after 7 years of failed efforts, the Florida Legislature passed a meaningful Assignment of Benefits (“AOB”) reform bill. Florida Governor Ron DeSantis announced yesterday that he would sign the legislation designed to cut back on abusive AOBs,… Continue reading Florida’s “Assignment of Benefits” Bill: A Guide Through the New Statutory Framework
Recent Property Insurance Assignment of Benefits Legislation
Conroy Simberg | April 29, 2019 After 6 years, the Florida Legislature has finally passed what appears to be an effective crackdown on Assignment of Benefit (AOB) abuse that has plagued first-party property insurance for years. The Act creates Florida Statute 627.7152, which preliminarily defines “Assignment Agreements” as instruments by which post-loss benefits under a… Continue reading Recent Property Insurance Assignment of Benefits Legislation
Assignment of Benefits Contracts are the Hot Topic of Discussion and Legislation in Florida, North Dakota and Elsewhere
Chip Merlin | Property Insurance Coverage Law Blog | February 11, 2019 Merlin Law Group knowledge manager Ruck DeMinico sent me recent North Dakota legislation pertaining to Assignment of Benefit contacts. This topic was also hotly debated two weeks ago at the Windstorm Insurance Conference in Orlando. Insurance restoration contractors, their lobbyists and attorneys are desperately trying to prevent any… Continue reading Assignment of Benefits Contracts are the Hot Topic of Discussion and Legislation in Florida, North Dakota and Elsewhere
Florida Supreme Court Invited to Resolve Assignment-Of-Benefits Controversy
Michael Morehead | Property Insurance Law Observer | December 5, 2018 Introduction At least two Florida appellate courts have directly contradicted each other on an increasingly-important question facing Floridians and the insurance industry. The question is as follows: “Are insurance provisions valid which condition the validity of third-party benefits assignments upon the written consent of… Continue reading Florida Supreme Court Invited to Resolve Assignment-Of-Benefits Controversy