Assignment of benefits agreements has been the bane of the property insurance industry’s existence because of perceived fraud, overcharges, and resulting litigation leading to increases in insureds’ premiums and disgruntled homeowners. Recognising these abuses, state legislatures and governors across the country are taking action to protect insureds from unscrupulous practices and slow the flood of lawsuits related to these assignments. The National Association of Mutual Insurance Companies sets forth its support of legislation which prevents abusive assignment of benefits practices here.
