AOB crisis drives Citizens rates up 6.8%

The board of Florida's state-backed insurer Citizens has
approved statewide rate increases of 6.8 percent for personal lines
policyholders in 2017, as it pointed to rising non-weather water
losses and assignment of benefit (AOB) abuse.
The carrier had previously warned that the growing AOB crisis
could send rates higher in the short-term and leave homeowners
facing price hikes for years to come if the situation was not
addressed.
And in a statement today (22 June), Citizens' board members
recomm