Sinkhole insurance abuse hurts us all

 Tuesday, August 2, 2011

 The Miami Herald

The recent rate increases proposed by Citizens Property Insurance Corporation for optional sinkhole activity coverage, while eye-popping in a few regions, are not surprising to actuaries. We have observed the alarming trend in claims costs since the last big round of changes to Florida property insurance law — and observed the explosion of billboards and TV ads encouraging new claims.
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