Sun-Sentinel Posted: 04/19/2016, 01:57pm Citizens Property Insurance Corp. is sharing scant details about the scope of its new managed repair program — a cost-reduction initiative that industry experts figure will be imitated widely throughout Florida’s property insurance industry. The managed repair program is intended to allow state-run Citizens to control the claim from beginning to…
Private insurance companies are lining up to request state approval of two key policy revisions intended to reduce losses from a practice called “assignment of benefits.” In late March, the state Office of Insurance Regulation approved requests by Citizens Property Insurance Corp. to limit the cost of emergency repairs after water breaches or other emergencies…
ORLANDO,Fla. — An Orange County man says a roofing company hijacked his insurance claim for hail damage that didn’t exist. Tony Annunziato blames the company for a questionable inspection and threats to sue his insurance company. He said he had a small roof leak, but an inspector from ELR Restoration claimed there was much more. “They said hail damage, there…
Following the 2016 Florida Legislative Session’s failure to pass essential assignment of benefit (AOB) reforms, the insurance industry and Citizens Property Insurance Corp. are working in tandem with the Florida Office of Insurance Regulation (OIR) to find workable administrative measures to help combat this kickback-driven lawsuit-for-profit scheme. The sad truth is AOB abuse is organized…
03.16.16_Citizens Board approves recommendations to stem water losses
Florida’s property insurance policyholders face paying higher rates due to the Legislature’s failure this legislative session to pass meaningful reforms to rein in fraud and abuse involving Assignment of Benefits (AOB). For the fourth straight year, legislators heard testimony about a rapidly growing scam in which shady home repair vendors pressure homeowners to sign away…
BY CARLOS LOPEZ-CANTERA Florida has taken some tough hits when it comes to major storms and bad weather in the past. Thankfully, it has been over 10 years since a major storm has hit the state. However, it is concerning that Florida homeowners are facing the highest home insurance rates in the country and still…
TALLAHASSEE — With time starting to run out on an insurance-industry priority, Lt. Gov. Carlos Lopez-Cantera is urging House and Senate leaders to take action on a controversial practice known as “assignment of benefits.” In a memo Thursday to House Speaker Steve Crisafulli and Senate President Andy Gardiner, Lopez-Cantera said assignment-of-benefits “abuse” has led to…
The Senate Judiciary Committee on Tuesday postponed a vote on a measure that would regulate homeowners’ ability to sign over their right to collect insurance benefits to third parties. Logan McFaddin, state government relations manager for the Property Casualty Insurers Association of America (PCI), issued this statement: “Assignment of Benefits (AOB) abuse is a critical…
ORLANDO,Fla. — Action 9 exposed some bogus offers to replace home roofs for free. In a hidden camera investigation, Action 9’s Todd Ulrich found out how the offers drive up the cost of insurance. The fliers left on front doors may claim a roof is damaged, and can be replaced for free. Several homeowners contacted…