In the News Today - September 13, 2018

September 13, 2018

State-Backed Insurer to Hold Hearings on AOB Abuse: Citizens Property Insurance, Florida’s state-backed insurance company, will hold public hearings on assignment of benefits (AOB) arrangements that many have linked to the state’s rising insurance costs. Citizens President and CEO Barry Gilway said “AOB abuse and runaway litigation threaten to raise premiums for many Citizens policyholders who otherwise would see their rates remain steady or go down.” (Miami Herald)

New York Federal Judge Tosses Lawsuit Lending Case: A federal judge in New York tossed a lawsuit brought by the state’s attorney general against RD Legal Funding. The lawsuit accused the firm of charging excessive interest rates in lawsuit loans to 9/11 first responders and former football players who are injured. (New York Times)