AOB…the woods are on fire!

Soon after last year’s minor hail events in west-central Florida a small roofing contractor left his hometown in Polk County to set up temporary headquarters in a small strip mall just off of Highway 19, near Homosassa Springs. He began trolling the southern tip of Citrus County and neighborhoods like Sugarmill Woods knocking on doors, promising free roofs in exchange for the signing of a contract with an Assignment of Benefits (AOB) clause nestled surreptitiously within. “It’s necessary” confused locals were told “so we can inspect for possible hail damage you might not even know is there.”  

They always find damage. [Read more…]

AOB… an ugly iceberg!

Some say every insurance crisis inevitably traces back to a handful of lawyers and that abuse of Assignment of Benefits (AOB) is no exception. What I’ve recently uncovered seems to bear this out in mind-boggling terms.   [Read more…]

AOB & Roofers?!

Rapidly becoming Florida’s biggest residential insurance cost driver and once thought to involve mostly water extraction companies, abuse of AOB (Assignment of Benefits) has now metastasized into the roofing industry.

I use the phrase “roofing industry” loosely. The prime abusers don’t appear to be roofers at all but, fly-by-nighters, scammers and sometimes even criminals–with no experience, no license and, far too often… no conscience! [Read more…]

Rytech–A company agents can trust!

For months now you’ve been reading my posts on the rampant abuse of assignment of benefits (AOB)– mostly by emergency restoration companies, more specifically water extraction companies. You know how I feel about it and should know, therefore, how insurers, abused claimants, agents and even some public adjusters feel about it.

They don’t like it, nor do they believe anyone should sign a contract assigning the benefits of their insurance policy to someone else.

Insurance agents should be particularly interested in knowing which emergency restoration companies do not use AOB and which do not pay inflated plumber referral fee’s but make referrals based on quality of service and workmanship. [Read more…]

CITIZENS…The Long & Winding Road!

Politically it’s been arduous but, the decades long journey Citizens Property Insurance Company (Citizens) has been on appears to be nearing an end.

That’s not to say Citizens will be back where it started. Far from it. It’s meant to imply, however, that Citizens has done so much, come so far, morphed so many times, it may now have nowhere left to go. [Read more…]

Public Adjuster Conundrum–AOB & Direct Pay

Public Adjusters appear to strongly oppose Assignment of Benefits (AOB). Like every insurer I talk to, they point to consumer mistreatment and warn claimants to avoid contracts assigning the benefits of their insurance policy to someone else. [Read more…]

Weiss Ratings…three reasons for “no credibility”!

The problem with an insurer rating agency that confirms the suspicions of those who don’t understand insurance is that it becomes the de facto standard. The Palm Beach Post, the Herald Tribune, The Tampa Times and reporters like Charles Elmore, Daniel Ruth, Jeff Harrington and others, have spread fear using bogus ratings from Jupiter based, Weiss Ratings, Inc. [Read more…]

AUTO NO-FAULT: “…and here we are again!”

I’m often critical of the Palm Beach Post. And, for good reason.

But…just because it far too often “gets it wrong” on property insurance, doesn’t mean I shouldn’t recognize when it gets it right on auto insurance. [Read more…]

Citizens vs Big Bubba’s Insurance!

Aside from a piece two years back about a public adjuster threatening to sue me, the blog I wrote November 18th, “Big Bubba’s Catfish & Insurer Ratings“, generated more commentary than anything I’ve published over the last four years. [Read more…]

BIG BUBBA’S CATFISH & INSURER RATINGS

Had a far ranging conversation recently with a friend and lobbyist regarding Florida’s domestic property carriers. He asked… “What can we do about agents that keep telling their clients domestic insurer’s are thinly capitalized?”

First, I reminded him that independent agents would never intentionally deride carrier’s in which they’ve placed clients. Makes no sense.

But, here’s the rub. [Read more…]