AOB lawsuits outpacing population growth
Florida is growing fast.
The state is already the third-largest in the union and recent research from the Florida Chamber of Commerce estimates 1,100 people move to the Sunshine State every day — that’s amounts to 5 million new residents by 2030.
But another statewide metric is accelerating faster: assignment of benefits lawsuits.
“While Florida is a growth state, AOB lawsuits are growing much faster than population, going from little more than a few hundredths of a point as a fraction of Florida’s population to nearly a full three-quarters of a percent now,” said Capital City Consulting lobbyist and FJRI counsel Ashley Kalifeh.
AOB is a process where policyholders sign over their insurance benefits for a quick repair after their property — be it a home, car windshield or something else — is damaged.