SB 2A
Assignment of Benefits (AOB)
pp. 99–102; §627.7152, F.S.
Prohibits the assignment, in whole or in part, of any post-loss insurance benefit under any residential property insurance policy or under any commercial property insurance policy issued on or after January 1, 2023.
Specifies that assignment agreements under a residential property insurance policy or under a commercial property insurance policy are only valid on policies issued on or after July 1, 2019, and before January 1, 2023.
Despite recent law changes with regard to AOBs, data from the OIR and the DFS' Service of Process database showed continued abuses of AOBs.
Effective date: December 16, 2022, except as otherwise expressly provided.
Chapter No. 2022-271, LOF