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And consumers often do not even know that their claims are driving these cost increases.The abuse therefore acts somewhat like a hidden tax on consumers, helping to increase what are already some of the highest insurance premiums in the country.Anyway, I’m really interested in the what laws are passed and how the different regulators operate.
You may have figured out that I like to watch the insurance news.
I hear you asking if I have a solution to recommend, rather than just complaining about a problem in my state. In the end, the only one that suffers is the consumer.
It is a standard practice throughout the insurance world: As a convenience, a policyholder grants a third party – an auto glass repair company, a medical practitioner, a home contractor – permission to directly bill an insurer to settle a claim.
An item that is particularly interesting where I live in Florida is the topic of Assignments of Benefits.
For those among us who aren’t dealing with this issue yet, let’s define what we’re talking about before we dig into the problem and maybe what Florida is trying to do to fix it.The state’s legal environment has encouraged vendors and their attorneys to solicit unwarranted AOBs from tens of thousands of Floridians, conduct unnecessary or unnecessarily expensive work, then file tens of thousands of lawsuits against insurance companies that deny or dispute the claims.This mini-industry has cost consumers billions of dollars as they are forced to pay higher premiums to cover needless repairs and excessive legal fees.This report discusses how AOB abuse works, how and why it is spreading, and how it is contributing to higher insurance costs for Florida consumers.Please click on the file name below to view the white paper in PDF format.If the insurance broker neglects to procure the insurance or if the …Continue Reading My primary role as an attorney at Merlin Law Group is to represent the best interests of policyholders and get all benefits owed following a loss.But, I call it like I see it when approached with debatable inquiries from contractors and restoration companies.…Continue Reading Assignment of benefits contracts for property damage claims may be going the way of the dinosaur in Florida.An Assignment of Benefits is a simple document that allows someone, other than the insured to receive the money payable by an insurance policy.You signed one the first time you visited your doctor.