Search
 

It's in the Plumbing

Nationwide, water-loss claims continue to climb.

By Michael J. O'Connor | Updated on August 30, 2005

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.

The rise in water-related losses has been attributed to many causes. Some studies point out that modern homes have much more plumbing in them than older homes. In general, older homes do not have as many bathrooms, while newer homes often have extras such as wet bars, icemakers, water filter systems, soft water systems, and residential automatic fire sprinklers. Modern homes also are built to be more airtight, thus tending to trap moisture more readily. Much of the increase in water-related losses can be blamed on modern materials used in the manufacture of plumbing fixtures, as well as poor construction methods.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.