Assignment of Benefits & Insurance Litigation

Four key drivers have increased property insurance rates by double- and triple-digits in Florida (as high as 111%) over recent years:

  • Underwriting losses from catastrophe claims over the past six years, including loss creep ($1.4 billion in 2022, $1.6 billion in 2021, and $1 billion in 2020)
  • Adverse loss reserve development (cost of claims greater than reserves allotted – by $337 million in 2021, $676 million in 2020, and $682 million in 2019)
  • Higher reinsurance costs (up 54% in 2020, another 28% in 2021, and another 52% in 2022 – especially impactful on Florida’s reliant domestic market)
  • Increases in costly litigation, despite the Florida Legislature’s 2019 Assignment of Benefits (AOB) reform and further 2021 Litigation & Solicitation reform.  According to the Florida Office of Insurance Regulation, Florida has 7% of the nation’s homeowners insurance claims yet 76% of the nation’s homeowners insurance lawsuits.  In 2021, insurance companies paid nearly $3.1 billion in direct Domestic Homeowners Defense Costs & Containment Expenses in their claims lawsuits. 

Lisa Miller & Associates continues to play an integral role in 2023 in the education and advocacy for the newest series of reforms taking effect this year on behalf of Florida’s top domestic insurance companies and the state’s 6.5 million policyholders.  Click the three links below to learn more!




At Lisa Miller & Associates, we have a passion for policy and client success.  Put Our Passion to Work for You – Give Us a Call Today!