As a follow up to last week’s Wire regarding a Florida bill reforming existing assignment of benefits (“AOB”) laws, the Florida Senate passed House Bill 7065. On April 24, 2019, the Senate approved the bill and sent it to Governor Ron DeSantis’ desk for his signature.
HB 7065 allows insurers to offer residential or commercial property or automobile insurance policies with restrictions on the AOB, in whole or in part. The AOB reformations contained in the Bill are intended to slow down the vast increase in the filing of AOB cases throughout Florida.
For any questions regarding House Bill 7065, or for updates on the bill’s progress, please contact Westmont Associates, Inc