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Panel Hears Bill to Ban Post‑Loss Assignment of Benefits; OIC and Consumer Groups Support
Summary
House Bill 2399 would prohibit post‑loss assignment of benefits in property insurance, void such agreements, and authorize OIC enforcement with fines up to $50,000 per violation; proponents said the ban protects homeowners from predatory contractors who assume policy rights.
The Consumer Protection and Business Committee on Jan. 23 considered House Bill 2399, which would prohibit soliciting, coercing, requiring or contracting for post‑loss assignment of insurance benefits (AOBs) and render such agreements void and unenforceable. Megan Mulvihill, committee staff, said the bill authorizes enforcement by the insurance commissioner and includes a civil penalty of up to $50,000 per violation.
Vice Chair Representative Hackney, prime sponsor, described AOB…
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