assignment of benefits

Sen. Anitere Flores (R-Miami) chairs the Senate Banking and Insurance committee.
Nick Evans

Florida senators are again tackling assignment of benefits.  The insurance provision has been a thorn in lawmakers’ sides for nearly five years.

National Institute for Occupational Safety and Health via wikimedia commons

Florida’s insurance regulator is readying another push for assignment of benefits reform in next year’s legislative session.  Similar measures have failed since 2013.

Florida Insurance Commissioner David Altmaier.
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 say they’re taking advantage of the system.

Sarah Mueller

Insurance companies in Florida and home contractors expect to battle over changes to assignment of benefits laws again this session. The rise of lawsuits where contractors are suing insurance companies to get paid and cover attorney fees has both sides arguing they are the only ones who are protecting the homeowner’s interests.

Florida Insurance Commissioner David Altmaier said insurance companies shouldn’t have to pay attorney fees when contractors sue them over property damage claims. He warned lawmakers this week that if the state doesn’t change its insurance rules, insurance companies will leave the market or raise rates.

Florida Insurance Commissioner David Altmaier.
Florida Channel

Rates in Florida’s property insurance market are in the midst of a broad upward shift.  State insurance officials are pointing to the rising cost of water damages.