Florida’s new insurance consumer advocate wants property insurance companies to produce data to back up their statements about rising water damage claims in South Florida. Sha’Ron James, who took over the statewide position in August, told participants at a public workshop Tuesday that she has asked the top 15 insurers to document their assertions that…Details
Assignment of Benefits (AOB) abuse is a fast-growing fraud scheme that is hurting Florida’s insurance consumers. While AOB is a long-established legal tool intended to allow vendors to receive prompt payment from insurers after doing emergency repair work in a home – without having to directly involve the homeowner – this process is being abused by a cottage industry of unscrupulous trial lawyers, water remediation firms and roofers. These bad actors are persuading homeowners to sign over the benefits of their insurance policies as a means for fraudulently inflating claims, filing thousands of lawsuits against insurers, and driving up attorney’s fees.