On Dec. 16, Florida Gov. Ron DeSantis, signed SB 2-A, a sweeping property insurance bill that he said is aimed at stabilizing Florida’s property insurance market, increasing competition and strengthening consumer protections.

One of the biggest effects of this new legislation is the elimination of assignment of benefits (AOB) contracts under a property insurance policy effective Jan. 1, 2023. Any assignment of benefits dated Jan. 1, 2023, or after is considered to be void, invalid and unenforceable.