[Liability Insurance] Fwd: Press Release - Statement from Citizens Property Insurance Corporation on signing of AOB reform bill

[Pence, Scott]

Please see below and attached thanks to Jay Mussman.

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From: "Mussman, Jay D." <jmussman at daypitney.com<mailto:jmussman at daypitney.com>>
Date: May 23, 2019 at 6:28:08 PM EDT
To: "Pence, Scott" <spence at carltonfields.com<mailto:spence at carltonfields.com>>
Subject: Fwd: Press Release - Statement from Citizens Property Insurance Corporation on signing of AOB reform bill

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From: Newsroom <Newsroom at citizensfla.com<mailto:Newsroom at citizensfla.com>>
Date: May 23, 2019 at 5:24:48 PM EDT
To: Newsroom <Newsroom at citizensfla.com<mailto:Newsroom at citizensfla.com>>
Subject: Press Release - Statement from Citizens Property Insurance Corporation on signing of AOB reform bill

[[EXTERNAL EMAIL]]
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FOR IMMEDIATE RELEASE
May 23, 2019


Contact: Michael Peltier
(850) 264-7702 (cell)
(850) 513-3774

Statement from Citizens Property Insurance Corporation on signing of AOB reform bill

TALLAHASSEE, FL - Barry Gilway, President, CEO and Executive Director of Citizens Property Insurance Corporation, issued the following statement Thursday following the signing by Governor Ron DeSantis of HB 7065, a bill addressing assignment of benefits (AOB) reforms.

"I want to thank Gov. DeSantis for his quick action on this much-needed piece of legislation," said Barry Gilway, Citizens President, CEO and Executive Director. "This new law represents a major step forward in our efforts to stem rising premiums caused by unnecessary litigation and assignment of benefits abuse. It is going to make a difference."

The measure, which goes into effect July 1, bolsters consumer protections by tightening policy language requirements for the execution, validity and effect of assignment of benefits agreements. The law also creates a formula to determine the award of attorney fees in cases between insurers and third parties in assignment of benefits litigation. The law is expected to curtail an exponential growth in AOB litigation and abuse that has contributed to rising insurance costs for Floridians.

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In 2002, the Florida Legislature created Citizens Property Insurance Corporation (Citizens), a not-for-profit alternative insurer, whose public purpose is to provide insurance to, and serve the needs of, property owners who cannot find coverage in the private insurance market.





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