10 MYTHS & FACTS OF AN ASSIGNMENT OF BENEFITS
MYTH 1: Assignments of property insurance benefits are a recent phenomenon
FACT: Assignments of post-loss benefit payments have been recognized by Florida law for over 100 Years
MYTH 2: Assignment Of Benefits give contractors special rights the policyholder would not have
FACT: Assignment of Benefits does not give contractor’s additional rights
MYTH 3: Assignment of benefits allow contractors to inflate prices
FACT: Assignment of benefits have no impact on a contractors ability to inflate pricing
MYTH 4: Assignment of Benefits allow contractors to file lawsuits within days of claim being filed
FACT: Assignment of Benefits does not override insurance policy provisions allowing certain time periods for coverage determinations
MYTH 5: Assignment of Benefits are not fair because they violate “Non-Assignment” clauses in insurance contracts
FACT: Assignment of Benefits only assign the right to receive payment for services performed, not the insurance policy itself
MYTH 6: Assignment of Benefits let contractors circumvent policy obligations
FACT: Even with an assignment, all policy obligations remain with the homeowner and will be enforced by Florida courts
MYTH 7: Contractors who take Assignment of Benefits are claiming ownership of the entire claim, not just payment for services they performed!
FACT: Assignment of Benefits only transfers the right to receive payment for contracted services, not an entire claim.
MYTH 8: Contractors who receive Assignment of Benefits violate Florida’s “Public Adjusting” Statue
FACT: An Assignment of Benefits is legally distinct from Public Adjusting
MYTH 9: An Assignment of Benefits violates Florida Statue 627.405 because contractors don’t have an “insurable interest” in the property
FACT: Florida Statue 627.405 only requires that the policyholder have an insurable interest at the time of the loss
MYTH 10: An Assignment of Benefits violates Florida’s “Lien Laws” pursuant to Florida Statue 713.32
FACT: Florida Statue 713.32 only deals with applications to place a lien on the property; an Assignment of Benefits is not lien or an application for a lien.
IMC406 : LIBRARY SKILL
(March – July 2017)
(Facts Findings) (Group Work- 3) 10%
Answer the questions below, using the appropriate reference source. Provide the information of the source that you have consulted PLUS the printed evidence of the answer
(printout the page that contains the answer).
Please highlight or mark your answer in the printout.
For printed source
- give the title of the source, edition, year of publication, place of publication, publisher and the exact page from where you get the answer
- give the URL address and the date of access
- not more than 50% of the question
Q 1. An exact date for Sultan Mahmood Iskandar Ibni Almarhum Sultan Ismail installed as the 8th King of Malaysia.
Q 2. Date and place of birth for Datuk M. Kayveas, President of PPP.
Q 3. Worth (in RM) of manufactured exports from Malaysia to Japan (January to August 1999)
Q 4. Death number of the world’s first concord crash, and the date.
Q 5. New name for Benares in Utter Pradesh.
Q 6. A country that uses schillings as their currency.
Q 7. Location for a place name Humpty Doo.
Q 8. Name of a world-famous site for bird migration in Southern Canada.
Q 9. Meaning of “mama bear” for an American.
Q 10. Full meaning for LIFO and what does it refer to?
Q 11. Address for University for Peace and date of its establishment.
Q 12. Meaning of ledger in architecture.
Q 13. Title of the paper presented at a conference in 1994
by Meor Zainuddin Mohamed regarding aeronautics.
Q 14. The ISBN for Guidebook for nutrition counselors, published in 1980.
Q 15. Operational date for World Food Program (WFP) of the United Nation and its aims.