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GLRE - Too Early To Tell How AOB Reform Will Affect Reinsurance Pricing: Universal CEO
Greenlight Reinsurance Ltd.
With a bill designed to reform assignment of benefits ((AOB)) having passed the Florida Senate this week, already discussions are turning to how the market impact will be quantified and whether it will reduce reinsurance pricing.
SB 122 (once HB 7065) passed the Florida Senate vote by 25 to 14 this week and now heads to Governor Ron DeSantis for his signature to become law.
It promises to reform the assignment of benefits system in the state, which could have significant ramifications for pricing of insurance, as lower fraud and legal costs may significantly reduce