It’s been a few months since Florida’s new assignment of benefits (AOB) laws went into effect. AOBs generally authorize vendors (contractors, water remediation companies, etc.) to collect payment for their work directly from the owner’s property insurance company. AOBs are commonly included in contracts and can be easily abused...
In a previous article we introduced you to the sweeping statutory reform of Florida’s assignment of insurance benefits (AOB) laws. This reform was designed to limit the use of post-loss AOB agreements by insureds to assign their rights under an insurance policy to a third party. Home and...
An assignment of insurance benefits (AOB) allows a vendor to collect insurance proceeds directly from the insurance company instead of the insured. Many are surprised to discover that AOBs are quite common. In fact, if you ever had property damage that required a construction contractor or water remediation company,...