AOB Law in Effect Should Lower Insurance Premiums in Sunshine State, Reformer Predicts
By: Florida Chamber of Commerce
Florida Record, By John Suayan, July 20, 2019
TALLAHASSEE — Consumers statewide should finally see an end to rising insurance premiums because of a new law that took effect July 1.
House Bill 7065 reforms assignment of benefits (AOB) law, which critics argued got out of control with lawyers teaming up with contractors to get homeowners to sign away their insurance rights. In exchange for the assignment, lawyers who took advantage of the law would promise to handle repairs to the homeowners’ property and often file inflated claims with an end game of getting insurers to pay legal fees.
William Large, president of the Florida Justice Reform Institute, praised Gov. Ron DeSantis for prioritizing passage of AOB reform, House Bill 7065.
“Gov. DeSantis really rolled his sleeves up to get this done. He showed incredible leadership during the legislative session,” Large said. “It is obvious the governor is first and foremost concerned about Florida’s consumers.”
What was arguably the official end to a decade-long fight for reform took place in late May when DeSantis signed the measure..