Insurance Law Podcast Discusses “Assignment of Benefits” Issue

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has released the latest installment of the Insurance Law Podcast, a series that examines timely insurance issues from an attorney’s point of view.

This episode features attorney Travis Miller from the Radey Law Firm in Tallahassee, FL. Mr. Miller practices insurance regulatory law, business and transactional law, and administrative law. The discussion addresses post-loss assignments to vendors involved in remediating a loss.

Mr. Miller explains that post-loss assignment of policy proceeds has been allowed, but that direct assignment to vendors can be problematic because vendors have the capacity to influence the amount of loss and inflate claims. He further explains that litigation resulting in disagreement on justifiable loss can be costly and can negatively impact the market through upward pressure on rates and increased cost to consumers. He concludes by suggesting that the issue is one for the Florida Legislature to address.

The Radey Law Firm is listed in Best’s Directories of Recommended Insurance Attorneys and Adjusters, the most authoritative and detailed reference for locating qualified legal counsel, independent insurance adjusting services and expert service providers since 1928. Learn more at http://www.ambest.com/directories.

Listen or subscribe to the Insurance Law Podcast at http://feeds2.feedburner.com/InsuranceLaw.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150616006323/en/

A.M. Best
John Czuba, 908-439-2200, ext. 5673
Manager Editor, Directories Group
[email protected]

Source: A.M. Best Company, Inc.

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