Palm Beach Post
I recently attended a forum hosted by Florida’s Insurance Consumer Advocate Sha’Ron James in Boca Raton to discuss the explosion in insurance claims related to water damage. During the event, multiple speakers talked about problems associated with Assignment of Benefits (AOB), and how it is harming the insurance market and increasing rates for policyholders.
I learned about Assignment of Benefits the hard way last year when my laundry room and other areas of my house flooded. Standing in ankle-deep water, I was desperate to get rid of it and didn’t know what to do.
My husband called the first water remediation company he saw in the phone book, the one with the biggest ad. A crew came out and told me they would take care of everything through our insurance company, but only if I signed an AOB.
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