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06-14-2011, 09:39 PM
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Florida's sinkhole shakedown
Quote:
State Farm wants to raise rates 28 percent, in large part because of sinkhole losses.
The state-owned Citizens Property Insurance takes in more than 200 sinkhole claims a month, paying out about four times as much as in claims as it takes in from premiums. We all know what happens when Citizens runs out of money and can't pay. We pay.
Florida is renowned for its insurance scams, and this one is a doozy.SNIP
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http://www.orlandosentinel.com/news/...5822172.column
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