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8/21/2013· Insurance

It's in the Plumbing

By: EFI Global - Michael J. O'Connor

Nationwide, water-loss claims continue to climb. In California alone, such claims have risen dramatically, with the percentage of homeowner claims growing from 24 percent in 1997 to 32 percent in 2001, costing insurers $1.7 billion. In a single year in California, between 2000 and 2001, claims rose $47 million. For some insurers, this meant that 40 percent of claim payments were for water losses.

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