Defensive Strategies and the Abolishment of AOB's
Although the recently enacted Senate Bill 2-A that became effective January 1, 2023 eliminates Assignments of Benefits (“AOB”) of property claims by rendering them void, invalid, and unenforceable, this new law only applies to eliminate AOBs executed on or after that date. It does not affect existing AOBs issued by a policyholder to an assignee prior to the effective date of the new law. Thus, it is important for at least three years following a loss occurring on or before December 31, 2022 for adjusters and attorneys to fully know the requirements of Florida Statute 627.7152 when dealing with AOB claims and suits presented for payment
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David Bronstein, Managing Partner, Bronstein & Carmona
Ian Singer, Associate, Segal McCambridge Singer & Mahoney