Florida water claim losses spiral: AM Best

Assignment of benefits (AOB) problems in the Florida property
insurance market have led to a 14.2 percent annual increase in
water claim losses since 2010, according an AM Best report.
The AOB process allows an insured to assign rights to payment of
a claim to a third party, and gives contractors the right to have
their legal fees reimbursed if they are found by courts to be owed
a larger sum - no matter how small the additional amount -...