Lessons for Health, Beauty & Wellness Companies [Part 3]: When to Consider Acquiring a Distressed Company
Apex Roofing & Restoration LLC a/a/o Monica Williams v. United Auto. Ins. Co., Fla. 1st DCA, No. 1D2022-3990, October 2, 2024 - Prior to suit, USAA’s insured assigned her rights to Apex via an Assignment of Benefits (AOB)...more
So many things in life can be randomly assembled and made to function seamlessly: puzzle pieces for your five-year-old, online gaming teammates, and music mixed by a deejay, to name a few....more
The Florida Legislature passed Senate Bill 2-A (“SB2A” or the “Act”), which was signed into law on December 16, 2022. The Act has the potential to significantly reduce litigation of first party property cases in the state of...more
The last week of September, 2022, the State of Florida braced for what was categorized to be one of the worst storms to make landfall in U.S. history. Initially, all weather channels displayed the storm’s trajectory...more
Section 627.7152, Florida Statutes went into effect on July 1, 2019 and regulates assignment of post-loss benefits agreements between an insured under a property insurance policy and any “person providing services to protect,...more
Two years after implementing meaningful assignment of benefits reform, Florida enacted broader property insurance claim reform. On June 11, 2021, Governor DeSantis sign S.B. 76, which takes effect on July 1, 2021. ...more
On April 26, 2019, Florida Governor Ron DeSantis signed into law Florida House Bill 7065. The law, which took effect on July 1, 2019, was designed to reduce the amount of assignment of benefits (“AOB”) agreements that could...more
The Florida Legislature passed House Bill 7065 (“HB 7065” or the “Act”), which takes effect today, July 1, 2019, as Section 627.7152, Florida Statutes. The Act regulates post-loss assignment of benefits (“AOB”) contracts...more
A new law represents a major step forward to remedy Florida’s assignment of benefits (“AOB”) crisis, which Florida Governor Ron DeSantis has described as a “racket” in recent years....more
Significant changes appear to be in the pipeline for Florida property insurers after the Florida legislature passed sweeping assignment of benefits (AOB) reform legislation last week....more
This week, after 7 years of failed efforts, the Florida Legislature passed a meaningful Assignment of Benefits (“AOB”) reform bill. Florida Governor Ron DeSantis announced yesterday that he would sign the legislation...more
The Florida Legislature just passed a bill that makes significant changes to the assignment of benefits ("AOB") process in Florida. Governor Ron DeSantis stated he will sign the bill into law. ...more
At least two Florida appellate courts have directly contradicted each other on an increasingly-important question facing Floridians and the insurance industry. The question is as follows: “Are insurance provisions valid which...more
The Florida House of Representatives recently approved HB 7015 with an 82-20 vote. HB 7015 would make significant changes to state law relating to assignment of benefits (“AOB”) and related legal fees in property insurance...more
On January 12, 2018, the Florida House of Representatives passed a bill (HB 7015) that would dramatically affect the way contractors and their lawyers use assignments of benefits (“AOBs”) in first-party property insurance...more
An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a...more
As the waters recede from Hurricane Irma, there are many issues for property insurers to consider as they adjust claims in Florida, including unique issues raised by assignment of benefits, Florida law on concurrent...more
As the waters recede from Hurricane Irma, property insurers have many issues to consider as they adjust claims in Florida. This alert discusses a few of those issues. Claims Reporting - The Florida Office of Insurance...more
The practice known as the Assignment of Benefits (AOB) is a big problem for Florida property insurers. AOBs have been driving up the cost of property insurance claims in the state for several years....more