The Florida Legislature just passed a bill that makes significant changes to the assignment of benefits ("AOB") process in Florida. Governor Ron DeSantis stated he will sign the bill into law. ...more
On January 12, 2018, the Florida House of Representatives passed a bill (HB 7015) that would dramatically affect the way contractors and their lawyers use assignments of benefits (“AOBs”) in first-party property insurance...more
1/17/2018
/ Assignment of Benefits (AOB) ,
Construction Industry ,
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Florida ,
Insurance Claims ,
Insurance Industry ,
Legislative Agendas ,
Property Damage ,
Property Insurance ,
Proposed Legislation ,
Real Estate Market
Insurance coverage litigation today is often time consuming and expensive. Many cases include claims for “bad faith” damages, and some cases seek punitive damages. To support their allegations, litigants will usually seek a...more
Florida first-party property insurers have seen a dramatic rise in assigned insurance claims. In the typical scenario, an insured assigns her rights to receive insurance proceeds from a loss to a contractor in return for the...more