Reinsurers in Florida advised caution over AOB epidemic: Hiscox Re 15th June 2017 – Author: Marianne Lehnis If the Assignment of Benefits (AOB) epidemic sweeping Florida continues unchecked, insurers with weaker capitalisation could see rating downgrades or be put out of business entirely, while reinsurers’ credit risk skyrockets, Bevis Tetlow, Chair of Hiscox Re’s […]
Insurance Commissioner Calls For Assignment Of Benefits Changes By NICK EVANS • JUN 15, 2017 Florida Insurance Commissioner David Altmaier. CREDIT FLORIDA CHANNEL Florida’s insurance officials are considering moves to rein in assignments after the Legislature again failed to take action. The procedure allows service providers to work directly with an insurer, but some […]
by W.J. Kennedy | Jun. 7, 2017, 12:23pm TALLAHASSEE – Regular session for the Florida Legislature ended in early May without approval of legislation that would have squashed a new rash of insurance scams involving car windshield replacements, and help reverse a rapid increase in insurance rates stemming from these and related fraudulent activity. In […]
By Glenn Minnis | Jun 6, 2017 TALLAHASSEE — Gov. Rick Scott has signed a bill passed by the Florida Senate aimed at rooting out “gotcha” public records requests that have long been a part of the state’s legal landscape. Introduced by Sen. Greg Steube (R-Sarasota), Senate Bill 80 is designed to penalize what he calls serial records […]
Professional Liability Florida Court Throws Out Cap on Medical Malpractice Damages By Mary Anne Pazanowski – June 6, 2017 Noneconomic damages are no longer limited for medical malpractice personal injury plaintiffs in Florida (N. Broward Hosp. Dist. v. Kalitan, Fla., No. SC15-1858, 6/8/17). A split Florida Supreme Court June 8 said the $500,000 per claimant cap […]
Auto glass lawsuits filed by a third party (through what’s known as assignment of benefits) are skyrocketing in Tampa Bay. [Times file photo] By Malena Carollo Published: May 25, 2017 Updated: May 25, 2017 at 08:57 PM When Rachel Thorpe tried to renew her auto insurance last year for her Toyta RAV4, she was stunned […]
‘House of cards’ BY: BETH LUBERECKI | CONTRIBUTING WRITER May 12, 2017 Kelly Overcash, with Lykes Insurance, says the Assignment of Benefits issue is “starting to come to a head.” Another Florida Legislature session has ended, and another attempt to pass assignment of benefits reform failed. If you’ve ever gone to the doctor, you’re probably […]
Wednesday, May 10, 2017 By J. Todd Foster An appellate court on Tuesday reversed a trial court ruling that the National Council on Compensation Insurance and Florida regulators violated the state’s Sunshine Law when deliberating last year’s rate hike. The 1st District Court of Appeal’s panel decision came down to the definition of the word […]
Friday, May 5, 2017 By J. Todd Foster After weeks of haggling and a last-minute flurry of amendments, the Senate had failed to vote late Thursday on attorney fee caps and other system changes that had been the legislative priority of the insurance and business industries. At least one business advocate that time may have […]
Florida Business Daily Reports | May 1, 2017 Supporters of a bill restructuring the way attorneys’ fees are awarded in some property disputes are urging the Florida Senate to tackle the issue. HB 1421, relating to property insurance assignment agreements, passed last week 91-26 in the House and was referred Sunday to the Senate Banking […]