In the Headlines
September 5, 2018

Fla. Ruling Could 'Nix' Homeowner Assignments Of Benefits

Law360

A Florida appeals court ruled that homeowners' insurance policies may require signatures of all insureds and mortgagees to validate an assignment of claim benefits to a third party. The decision could have significant impact on long-standing insurance practices in the state.

Senior Counsel Andrew Marcus says that the court's approval may lead to other insurers seeking to use these limitations "to stem the rise of fake or exaggerated claims."

"Currently, some unscrupulous contractors will have homeowners unknowingly assign their benefits under an insurance contract to the contractor," Mr. Marcus said. "This ruling would allow parties with valid, vested interests in the property to have a say in the assignment."

READ: Fla. Ruling Could 'Nix' Homeowner Assignments Of Benefits (subscription required)

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