Scott Rybny of Rebar Bernstiel will be speaking in an upcoming Strafford live webinar, “Assignment of Benefits in Insurance Claims: Recent Trends, Court Decisions, and Practical Guidance” scheduled for Wednesday, October 16, 1:00pm-2:30pm EDT.
Assignment of benefits (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.
Scott will be part of a panel that will provide insurance practitioners with an enhanced understanding of insurance claims brought under an 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.
We will review these and other key issues:
After our presentations, we will engage in a live question and answer session with participants so we can answer your questions about these important issues directly.
I hope you’ll join us.
For more information or to register:
C. Scott Rybny, Partner