South Florida water losses reach crisis level: Citizens

Water losses in South Florida are reaching crisis level and will
lead to homeowners rates going up by 10 percent annually for years
to come, state-backed insurer Citizens has warned.
As previously reported, loss ratios of Florida carriers have
come under increasing pressure from rising water loss claims,
exacerbated by so-called assignment of benefits (AOB) and claims
filing abuses.
With AOB claims, homeowners assign their rights under a policy
for insurance recovery to a contractor or water mit