In the aftermath of Hurricane Michael’s destruction, Florida’s home insurance costs will soon be reaching an all-time high, but not primarily due to violent storms or exceptional levels of flooding. It’s being driven by the abuse of a Florida insurance provision called “Assignment of Benefits” or AOB. This entire article is available at the Fort […]
fraud
Sunshine State News: Bad Politics Blocks AOB Reform in Florida
Now that the elections are behind us, it is time for the Legislature to address the fraud that has increasingly pushed homeowner insurance rates higher each year. Florida is the nation’s top “judicial hellhole,” according to the American Tort Reform Foundation, and Assignment of Benefits (AOB) abuse is playing a big role in the dysfunction. […]
Morning Consult: Smarter Tech Could Help Curb Medicare Fraud, Combat Opioid Crisis
What if there was a way to simultaneously reduce the stunning levels of health care fraud in the United States while also combating the opioid crisis ravaging our communities? Well, there is. To read this op-ed, please visit the Morning Consult.
The Evolving Security of Credit Cards
Another breach of consumer credit card information was reported by Hudson’s Bay, the owner of Lord and Taylor and Saks stores. Hudson’s Bay said “it was the victim of a security breach that compromised data from payment cards that had been used at some stores in North America, and that it had “taken steps to […]
Pensacola News Journal on AOB Fraud
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 […]
ACI in the Miami Herald: Insurance Fraud Pushing Up Consumer Costs
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.
ACI in the News-Press: Insurance Fraud From Skyrocketing Consumer Prices
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 […]
Miami Herald: Assignment of Benefits Cabal
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 […]
Time and Security at the Checkout Line
For retail payments there are six protocols in common use – cash, check, credit card swipe and sign, debit card swipe and pin entry, EMV chip and sometimes sign, and mobile payments (using near field communications) with a second form of authentication. Cash and check are less commonly used. Cash payments challenge some of the […]
Forbes: Chip and PIN Still Not Here
This piece published in Forbes sets the record straight about Chip and PIN credit cards.