Citizens considers rate rise after water losses

The Florida Citizens Property Insurance board is considering a
state-wide average rate increase of 6.8 percent for 2017, following
a spike in water loss claims.
The suggestion is considerably less than what had been predicted
in March this year, when Citizens warned that water losses in
southern Florida had reached crisis levels and would require
homeowners' rates to rise by 10 percent annually for years to
come.
By law, Citizens is required to recommend rates that are
actuarially sound but...