In the News Today - June 7, 2018

June 07, 2018

Credit Rating Agency: Assignment of Benefits Abuse May Increase Florida Home Insurance Costs: Fitch Ratings, one of the country’s largest credit rating agencies, said “accusations of fraud and abuse of assignment of benefits clauses” was one reason that “led many property insurers to push for rate increases” in Florida. The state approved changes to the rates of Citizens’ Property Insurance Corp., the state-sponsored insurer, with an average statewide increase of 5 percent. (Tampa Bay Business Journal)

ILR Recommends Class Action Reforms to the Ontario Law Commission: ILR filed public comments last week to the Ontario Law Commission, which is currently reviewing the province’s class action system. ILR’s comments “can serve help steer the Commission toward a system in which ‘access to justice’ means access to balanced and reasonable results, not just access to the system itself.” (ILR Blog)