· Insurance – Homeowners – Assignment – Clause in insurance contract requiring signatures of all insureds and mortgagees for an assignment of benefits was enforceable – Conflict certified. RESTORATION 1 OF PORT ST. LUCIE, a/a/o JOHN and LIZA SQUITIERI, Appellant, v. ARK ROYAL INSURANCE COMPANY, Appellee. 4th District. Case No. 4D17-1113.
Last month, the Florida Court of Appeals for the Fourth District weakened assignment-of-benefits claims after it held that an insurer may require all insureds and mortgagees to provide written consent prior to executing an assignment of benefits agreement. In Restoration 1 of Port St. Lucie v.
· Three of the five Florida District Courts of Appeal have weighed in on the validity of AOB conditions requiring the written consent of all insureds and named property mortgagees.
COMMISSIONERS Mark Fine, Chairman Mike Burrows, Vice Chair & Chair – Information & Tech. Committee Ilana Branda, Chair – Legislative Committee Marietta Ethier, Esq., Chair – P
"The provision that requires all insureds, including mortgagees, to approve the assignment does exist in other insurance company policies," said attorney Michael Packer, who heads up the florida insurance coverage and bad faith practice group for the law firm Marshall Dennehey Warner Coleman & Goggin in Fort Lauderdale, Fla.
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In a decision that lawyers say could have a significant impact on long-standing insurance practices in Florida, a state appeals court wednesday ruled that homeowners’ insurance policies may.
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The bill would provide that the requirements imposed on mortgage servicers, and mortgagees, trustees, beneficiaries, and authorized agents, described above are applicable only to mortgages or deeds of trust secured by residential real property not exceeding 4 dwelling units that is owner-occupied, as defined, and, until January 1, 2018, only to.
A state appeals court has upheld insurance policy language barring policyholders from signing assignment of benefits agreements without the approval of co-insureds, including financial.
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A Florida appeals court has sided with the state's insurance. but a hearing officer upheld it concluding that the policy language was. requiring an insurer's consent for a post-loss assignment of benefits is. “The provision that requires all insureds, including mortgagees, to approve the assignment does.