Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Cypress offers Florida AOB-blunting deductible plan

David Bull 4 August 2017

Florida homeowners' carrier Cypress Property & Casualty Insurance has introduced a deductible instalment plan for policyholders that may provide an incentive not to enter into assignment of benefits (AOB) agreements with third parties after a damaging storm.

According to sources the carrier has been approved by the Florida Office of Insurance Regulation to provide the policy endorsement to existing and new policyholders for hurricane deductibles.

The patented plan applies to up to 2 percent of the insured value of the...

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