Lessons for Health, Beauty & Wellness Companies [Part 3]: When to Consider Acquiring a Distressed Company
A policyholder's ability to assign its rights to insurance proceeds can be an effective tool of risk mitigation. However, insurance policies often incorporate assignment clauses, which require policyholders to obtain their...more
You’ll find some notable decisions in our May Insurance Update. Appeals over pandemic-related business interruption losses have made their way up to state high courts. And so far, these courts have continued the trend...more
• The Florida Senate recently passed assignment of benefits (AOB) legislation that is expected to be signed by Gov. Ron DeSantis. The bill is intended to bring much needed reform to the abused and litigious practice of...more
Assignment of Benefit Scams - According to the Coalition Against Insurance Fraud, about $80 billion is stolen every year by unscrupulous companies supposedly acting in the best interests of U.S consumers during critical...more
The storms of 2017 not only affected lives and property, they occasioned a flurry of litigation in Florida that has revived perennial calls for reform. During hurricane Irma, strong winds blew trees onto roofs, and heavy...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
An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a...more
In a recent opinion, Judge Schmehl of the Eastern District of Pennsylvania denied a forced placed insurer’s Motion to Dismiss a suit brought by the assignee of a homeowner for water damage to the home. In Williams v....more
As the waters recede from Hurricane Irma, there are many issues for property insurers to consider as they adjust claims in Florida, including unique issues raised by assignment of benefits, Florida law on concurrent...more
As the waters recede from Hurricane Irma, property insurers have many issues to consider as they adjust claims in Florida. This alert discusses a few of those issues. Claims Reporting - The Florida Office of Insurance...more
The practice known as the Assignment of Benefits (AOB) is a big problem for Florida property insurers. AOBs have been driving up the cost of property insurance claims in the state for several years....more