The Wall Street Journal today exposed secrets behind a property insurance fraud and abuse scam wreaking havoc on Florida homeowners. It’s a scheme that the Florida Chamber of Commerce and partners at the Consumer Protection Coalition have targeted for reform.
IN CASE YOU MISSED IT:
In a nationwide editorial, Florida’s Trial Bar Hurricane: Legal abuse threatens insurers that absorb extreme weather risk, the WSJ says:
“…taxpayers will still get whacked with Category 5 bills if Tallahassee doesn’t shut down the state’s latest plaintiffs attorney get-rich-quick scheme.”
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“Sunshine State lawyers, in cahoots with local contractors, are crisscrossing the state encouraging homeowners to sign away their insurance rights, a practice known as ‘assignment of benefits,’ or AOB….”
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“…insurance costs are predictably soaring. Citizens Property Insurance Corp.…has seen litigated claims jump to 45% of all claims in 2016, up from 12% in 2011….Private insurers are seeing similar trends and are passing the costs along to policyholders.”
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“How long can homeowners bear double-digit premium hikes?”….“This man-made fiscal hurricane is swirling…”
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“..legislative fixes have been thwarted in recent years by the state’s powerful plaintiffs-lawyer lobby, and competing bills would bless the trial bar’s practices.”
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“Florida homeowners already face risks from hurricanes, hail storms and other natural phenomena. Do they need to face the unnatural disaster knows as plaintiffs attorneys too?”
Here’s How You Can Help
- Share this consumer alert with your friends, family and colleagues, and help prevent future victims.
- Sign this petition to encourage lawmakers to take legislative action to protect consumers. The fight ahead is steep and your voices are needed.
- Watch this video to learn how the AOB scam is abusing homeowners.
For more information, contact Carolyn Johnson at 850-521-1235.