I.I.I.’s Chief Actuary Testifying on Feb. 4 And Feb. 7 At Tallahassee Hearings on Florida’s Assignment Of Benefits System

NEW YORK, Feb. 4 -- The Insurance Information Institute issued the following news release:

James Lynch, the Insurance Information Institute's (I.I.I.) chief actuary, will brief lawmakers in Tallahassee on Monday, Feb. 4, and Thursday, Feb. 7, about Florida's Assignment of Benefits (AOB) Crisis, an I.I.I. study he co-authored.

Details on the two public hearings are below:

* Monday, Feb. 4, 4 to 6 p.m.--state Senate's Banking and Insurance Committee, Pat Thomas Committee Room, 412 Knott Building, Tallahassee, Fla.

* Thursday, Feb. 7, 8 to 10 a.m.--state House of Representatives' Civil Justice Subcommittee, Sumner Hall, 404 House Office Building, Tallahassee, Fla.

An AOB form is a document signed by a policyholder which allows a third party, such as an auto repair shop or a roofer, to seek direct payment from an insurer on a policyholder's behalf. In Florida, a policyholder is permitted to sign an AOB document without notifying their insurer, or seeking the insurer's consent. The process is further complicated when the third party, with a signed AOB document in hand, retains a plaintiff's attorney to sue an insurer when the insurer disputes a bill from the third party.

Reporters wishing to schedule an interview with Lynch should contact the I.I.I.'s Lynne McChristian at either 813-480-6446 or [email protected].

The I.I.I. has a full library of educational videos on its YouTube Channel. Information about I.I.I. mobile apps can be found here.

THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org