Nicole Friedman

speaker

798 appearances 16 recordings 1 series first heard Aug 2017 last heard Dec 2024

Nicole Friedman’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How Contractors Can Drive Up Hurricane Irma Costs · 24 Oct 2017 podcast

And there was an attempt in the Florida legislature earlier in the year to fix this that didn't quite work out. matched

And so now there's another attempt. matched

Lawmakers are trying to get started on working on this again. matched

Right. matched

So contractors say they need these assignment of benefits because it's the insurers who are lowballing them and aren't paying as much as the claim costs. matched

And so they have to be able to negotiate with the insurers and potentially sue the insurers to get paid what they deserve for the work that they're doing. matched

And so insurers say that can't be that can't be the situation. matched

It's a lot of back and forth, of course, but insurers point to how much their costs have gone up. matched

And they say their costs for a standard claim when there's an AOB contract versus when there's not. matched

The AOB claims tend to cost much more and be more expensive. matched

And they say, you know, there's no way that this water claim could always be more expensive when there's an AOB contract. matched

And so they say that there's inevitably an incentive for the contractor to charge more. matched

The contractors say the insurers are underpaying them. matched

And so there's a lot of back and forth on that issue. matched

Absolutely. matched

And the state is trying to kind of do some consumer education, get out there, tell people don't sign something, you know, immediately in the wake of a disaster when you're distraught. matched

Don't immediately sign a paper. matched

You know, think about what you're signing. matched

Make sure you understand it. matched

Make sure you do some research and potentially talk it over with a consumer advocate or with your insurance company before committing to any sort of contract. matched

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