Heritage earnings plunge as it tackles AOB exposure

Heritage net income tumbled 64 percent in the second quarter as
efforts to rein in exposure to Assignment of Benefits (AOB) abuses
led its top line to shrink while net earned premium dropped 17
percent from the year-earlier period.
The company posted net income of $6.6mn, or $0.23 a share,
compared with $18.4mn, or $0.62 per share, in the year-earlier
period.
Heritage took steps to reduce exposure to catastrophe losses and
to "strengthen the quality" of its Florida policies, CEO...