Assignment of Benefits in Insurance Claims: Recent Trends, Court Decisions, and Practical Guidance

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, October 16, 2019

Recorded event now available

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Program Materials

This CLE webinar will provide insurance practitioners with an enhanced understanding of insurance claims brought under an assignment of benefits (AOB). The panel will discuss the current state of the law, including state-specific reform efforts and trends, how assignments of benefits affect the adjustment of a loss, negotiating the loss settlement, competing interests in the policy proceeds, investigating and countering contractor misrepresentations, and related appraisal and litigation issues.

Description

AOB is standard practice in insurance: an agreement that transfers the insurance claims rights or benefits of the policy to a third party. An AOB gives the third-party authority to file a claim, make repair decisions, and collect insurance payments without the involvement of the policyholder.

AOBs have been used with life and health insurance policies for many years. Now, AOBs are commonly used in homeowners' insurance claims by restoration companies and contractors. AOBs can be helpful with navigating the claims process but can lead to unintended consequences for both insurer and policyholder.

Savvy counsel must understand the nuances of AOBs and their impact on claims, along with the evolving approaches of public adjusters, contractors, and lawyers in the first-party property insurance context.

Listen as our authoritative panel of insurance practitioners discusses the current state of the law, including state-specific reform efforts and trends, how AOB affect the adjustment of a loss, and strategies for negotiating the loss settlement. The panel will also address the importance of understanding the competing interests in the policy proceeds, best practices for investigating and countering contractor misrepresentations, and related appraisal and litigation issues.

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Outline

  1. Assignment of benefits overview
  2. The current state of the law
  3. State reform efforts and trends
  4. Policyholder perspectives
  5. Insurer perspectives
  6. Best practices and case studies

Benefits

The panel will review these and other key issues:

  • What are the essential elements of an AOB contract and who benefits from it?
  • What are "red flags" for potential fraud involved with the assignment of claim presentations?
  • What are the best strategies to help navigate a policyholder's claim through an AOB situation?
  • What is the current state of the law and state-specific reform efforts?
  • What are the critical AOB-related appraisal and litigation issues?

Faculty

Friedman, Robert
Robert H. Friedman

Principal
Friedman

Mr. Friedman provides corporate insurance counseling to companies in Florida, the Caribbean, New York, and other...  |  Read More

Rybny, C. Scott
C. Scott Rybny

Chair Insurance Coverage & Extra-Contractual Litigation Group
Morgan & Akins

Mr. Rybny represents insurers in all phases of first and third party insurance disputes, including pre-litigation...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

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