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News
July 19, 2018

In the News Today – July 19, 2018

Education, Education, Education”: How Florida’s Insurers Plan to Tackle the AOB Issue: The president, CEO, and executive director of the Citizens Property Insurance Corp. said Florida insurers need to “link (assignment of benefits) to the impact that it’s having on the individual consumer and the huge impact it’s having on the premiums that the consumer’s paying.” Citizens, a state-run insurance company, has said it will spend $70 million this year defending assignment of benefits lawsuits, which is equal to 17 percent of its total premium. (Insurance Journal)

“Keep Politics Out of the Boardroom”: A former chairman of the Senate Banking Committee cautioned against the use of shareholder votes to advance the “interests of activists, managers or advisers” in a Wall Street Journal op-ed. He said “[p]olitical issues should be debated in Congress and state houses, not corporate boardrooms and shareholder meetings.” (Wall Street Journal)

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