Florida Lawmakers Applauded for AOB Bill
The Florida regional manager for the American Property Casualty Insurance Association (APCIA), believes bad actors will no longer be able to take advantage of homeowners when it comes to assignment of benefits (AOB) in the Sunshine State.
Logan McFaddin told theFlorida Record that before the 2019 legislative session and subsequent passage of HB7065, abuse was quickly getting out of control. The Insurance Information Institute reported AOB litigation reached 135,000 cases in the first three quarters of 2018, up from 1,300 AOB lawsuits in all of 2000.
“Many of the consumers were signing over their benefits without really knowing what they were signing and entering into long legal battles,” McFaddin said.