Florida’s Failure to Pass AOB Reforms Will Impact State Insurance Market

Following the 2016 Florida Legislative Session’s failure to pass essential assignment of benefit (AOB) reforms, the insurance industry and Citizens Property Insurance Corp. are working in tandem with the Florida Office of Insurance Regulation (OIR) to find workable administrative measures to help combat this kickback-driven lawsuit-for-profit scheme.

The sad truth is AOB abuse is organized and carried out by only a handful of vendors and lawyers and will ultimately result in much higher rates for South Florida customers.

 

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