A vast scam engineered by unscrupulous attorneys and contractors is sending homeowners’ insurance premiums skyrocketing, and Florida lawmakers aren’t doing enough to stop it. The problem stems from a provision in Florida law called Assignment of Benefits (AOB). An AOB allows an insurance policyholder to grant insurance claim rights to a third-party, such as a […]
Florida’s Insurance Abuse is Spiraling Out of Control You’ve probably never heard of it, but an arcane provision in Florida’s statutes is fueling significant spikes in homeowners’ insurance premiums all over the state — and earning Florida the dubious distinction of being the nation’s worst “judicial hellhole.” Unscrupulous contractors, aided by their attorneys, are exploiting […]
A recent report by the American Tort Reform Foundation ranks Florida as the worst judicial hellhole. Along with a need for comprehensive tort reform, as the report points out, Florida has become the poster child for an insurance scam that enriches some attorneys and home repair companies at a big cost to insurance consumers. Here […]
This op-ed, published in the Miami Herald and written by Alan Daley, discusses a costly trend that is pushing up Florida’s homeowner premiums — “assignment of benefits” contractor fraud. The piece can be read and printed at the Miami Herald — http://www.miamiherald.com/opinion/letters-to-the-editor/article161321238.html.
Alan Daley wrote an op-ed cautioning the development of tax reforms that needlessly tax some services, like reinsurance. Such taxes would needlessly raise consumer prices without offsetting or adjusting any international taxes. His piece can be read at the Naples Daily News. Use Caution in Tax Reform Tax reform could provide a much-needed boost to […]
While Hurricane Matthew brushed along the Atlantic coast last year, no major hurricane has made landfall in Florida since 2005. Despite that luck, homeowner insurance premiums remain very high, and have experienced double-digit annual increases in Southeastern Florida. Over the next 5 years, rate hikes are expected to increase over 60% in Miami-Dade County alone. The increase […]
As Florida’s legislators consider what to do with auto insurance requirements in a “post” No-Fault/Personal Insurance Protection (PIP) world, there is talk of mandating rate rollbacks or passing new laws with “recommended” rate savings. This would be a mistake. To read the entire op-ed, visit the Palm Beach Post.
Every year, disreputable attorneys and home repair contractors launch an Assignment of Benefits (AOB) “open season” on home insurance policy holders. Consumers, whose homes are damaged by a leaky pipe or storm damage, want quick action by repair contractors to mitigate further damage. Some contractors will not proceed unless the owner completes an “assignment of […]
The election’s promise of tax reform raises both anticipation for some and anxiety for others. One thing is for sure – sensible tax reform will reinvigorate the economy. There is no question that the proposed expensing of capital purchases will encourage business and infrastructure investment, and repatriating the $2.6 trillion being held overseas back into […]
Worldwide, counterfeit drugs kill more than one million people each year. For Floridians, unregulated and illegally imported medications have become a big threat to public safety, and this is likely one of the many contributing factors to the recent and unexpected increase in the death rate for Americans under 65 years of age. …To continue […]