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CFO Jimmy Patronis: Florida Fighting Against Rampant AOB Abuse

4/24/2019

For Immediate Release: Wednesday, April 24, 2019
Contact: Katie Strickland, 850.413.2842, katie.strickland@myfloridacfo.com
Devin Galetta, 850.413.2842, devin.galetta@myfloridacfo.com

CFO Jimmy Patronis: Florida Fighting Against Rampant AOB Abuse

TALLAHASSEE, Fla. – Chief Financial Officer (CFO) Jimmy Patronis released the following statement today regarding the final passage by the Florida Legislature of HB 7065, which protects Floridians from assignment of benefits (AOB) abuse. This bill now heads to Gov. Ron DeSantis for his signature.
 
CFO Jimmy Patronis said, “We fought for Florida homeowners this year and passed this bill to stop the man-made hurricane of rampant AOB abuse in our state that is driving up insurance rates. Bad actors have exploited loopholes in Florida law to take advantage of a system meant to empower consumers, and today families take back control of their insurance benefits.
 
“Not only does this bill protect homeowners from being taken advantage of during vulnerable times, but it requires savings to be passed along to Floridians who have coverage through Citizens Property Insurance Corporation. A 'no' vote on this bill is a vote against savings for Florida consumers and everyone should take notice. Tackling AOB abuse not only protects consumers but is essential to the financial health and stability of our state.
 
"I'd like to thank Senator Broxson, Senator Simmons, Representative Renner, Representative Rommel, President Galvano and Speaker Oliva for all of their efforts."
 
AOB is an agreement that, once signed, transfers the insurance claims rights or benefits of your insurance policy to a third party. An AOB gives the third party authority to file a claim, make repair decisions and collect insurance payments without your involvement.
 
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About CFO Jimmy Patronis 
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).