Changing The Approach To Solving Florida’s Assignment Of Benefits Abuse
"What if the legislature was giving a small set of trial lawyers
An AOB agreement is a legal contract that allows repair vendors to receive payments directly from insurance companies for work they perform at a policyholder's home, without the homeowner having to pay money upfront. While it sounds good, unfortunately in the past 6 years in
Better data tools and analytics are part of the solution to
"A judicial decision reversing longstanding claims practices can increase the cost of losses and accompanying expenses. It's important to adjust the reported numbers as required to see the true picture," Petrelli told the webinar audience. Demotech changed its rating system last year to reflect, in part,
Better data and analytics will be key to solving another related problem discussed in the webinar: convincing the
"We need to do a better job of educating the legislature," said
"It's hard for our elected officials to believe that our insurance companies are trying to do the right thing," added panelist
Miller pointed to the latest face of AOB abuse,
Recent legislative reform efforts focused on
An industry database with aggregate data can help better analyze the problem and help make a more convincing case to lawmakers to reform AOB abuse. But there was frustration voiced as well at the lack of heed lawmakers – many of them lawyers - have given to existing data provided by
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