Insurance Commissioner David Altmaier issued the following statement following today’s Senate Rules Committee’s vote on SB 122 limiting one-way attorney’s fees in related to assignment of benefits (AOB) agreements:
Commissioner Altmaier said:
“Year after year we have watched the AOB crisis negatively impact our consumers – many of which are recovering from hurricanes. Now, more than ever, is the time to pass meaningful reform so we can protect consumers and start recovering from years of compounding abuse.
“The advancement of SB 122 is a significant step towards protecting Floridians from future AOB abuse and the leadership exhibited by Chair Benacquisto, Senator Broxson and countless members of the Florida Legislature is admirable.”
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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 the Office, please visit floir.com or follow us on Twitter @FLOIR_comm.
