Tag: insurance cost reduction

Louisiana Homeowners Score Relief as Property Insurance Fees Drop Early

Angela Linders
Loiusiana Homeowners Property Insurance fee drop

Louisiana Insurance Relief: Ending the 1.36% Assessment Louisiana property insurance policyholders are poised to experience some financial relief this year as the Louisiana Citizens Property Insurance Corporation (Louisiana Citizens) implements significant changes to reduce costs. The most notable adjustment is the early termination of a 1.36% statewide assessment on residential and commercial property insurance policies. Originally scheduled to conclude in June 2026, the assessment will now end in April. This fee was introduced to pay off bonds associated with claims from hurricanes Katrina and Rita. Louisiana Citizens, the state-run insurer…

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Major Decision by Florida Court of Appeals Shakes Up Insurance Landscape

H. Cutner
Florida court of appeals

Florida Court Ruling Redefines Assignment of Benefits (AOB) and Its Impact on Homeowners Insurance A recent ruling by a Florida court of appeals has established that a “direction to pay” (DTP) by a policyholder does not equate to an “assignment of benefits” (AOB). This decision serves as a significant milestone reinforcing the legislative reform introduced through Senate Bill 2-A in 2023. The reform prohibits insurance policy benefits issued after January 1, 2023, from being assigned to third parties. The objective of Senate Bill 2-A is to curb the extensive litigation…

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