Insurance Commissioner David Altmaier issued the following statement following the recent advancement of assignment of benefits (AOB) reform efforts in the House Insurance and Banking Subcommittee and the Senate Judiciary Committee:
Commissioner Altmaier said:
“I applaud the leaders and individuals who have partnered with the OIR and many others across our state to protect Floridians.
“An insurance affordability crisis has been identified and if left unchecked, rates will likely continue to rise, and companies will likely stop writing policies in zip codes where AOB abuse is most prevalent. As a result, consumers will be left to navigate a crippled insurance market as they prepare for the next major hurricane to make landfall. Floridians deserve better and we owe it to our consumers.
“We stand with the many leaders who have prioritized consumer protection during the 2019 Legislative Session and their bi-partisan support towards AOB reform.”
About the Florida Office of Insurance Regulation
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 the Office, please visit www.floir.com or follow us on Twitter @FLOIR_comm.