Assignment Of Benefits Reform Bill

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Assignment Of Benefits Reform Bill

Florida Legislature Passes Assignment of Benefits Reform!

“The question remains whether this will help or hurt the insured?”

TALLAHASSEE, Florida. (April 24, 2019) –  The Florida Legislature, as the state Senate today passed House-passed reforms to restrict assignment-of-benefits litigation.

With the Senate’s passage, the bill, H.B. 7065, now moves to Governor Ron DeSantis.

Under an assignment of benefits, the beneficiary of an insurance contract may transfer the right to collect benefits to a third party, such as a general contractor, roofing contractor, remediation contractor, or water mitigation contractor.

H.B. 7065 makes several controversial changes to address concerns that AOB contractors abuse the system by sending many claims to an attorney to file suit.  It will replace Florida’s “one-way attorneys’ fee” law with a formula to determine which party, if any, receives attorney fees should an Assignment of Benefits lawsuit result in a judgment. It also would allow insurers to make some policies available that prohibit or restrict assignments.

The supporters of this bill are of the opinion this will lower insurance premiums. Some have their doubts it will do anything to insurance premiums. This will be determined if signed into law by Governor Ron DeSantis. Logically, this law could have just given the insurance carriers the ability to continue to underpay insurers and give them less options to help them reach a fair settlement. We will all have to wait in see. The good news is you still have the ability to hire a Public Adjuster to represent you and advocate for you.

Experienced Public Adjusters is here to help all insured’s reach fair settlements. Call us today! (407) 212-8669

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