Insurance Commissioner David Altmaier issued the following statement following the passage of PCB CJS 19-01, regarding assignment of benefits (AOB), by the House Civil Justice Subcommittee:
Commissioner Altmaier said:
“AOB abuse has an adverse impact on our consumers and directly undermines the ability of Floridians to have reliable insurance products available at affordable prices. I will remain a vocal proponent of measures that stem AOB abuse and protects consumers from the abusive tactics exhibited by bad actors who exploit Florida’s unique attorney fee structure.
“Floridians deserve relief and I thank Chair Rommel and members of the House Civil Justice Subcommittee for helping to protect Floridians.”
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The Florida Office of Insurance Regulation has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. For more information about OIR, please visit our website or follow us on Twitter @FLOIR_comm.