SaintPetersBlog – Lloyd Dunkelberger
The Citizens Property Insurance Corp. board of governors Tuesday approved a $1.8 million contract with a company that will examine escalating water damage claims from policyholders and determine whether the charges are excessive.
“The goal is to identify inflated or excessive charges on invoices from contractors that have performed water damage restorations for Citizens’ policyholders and to contest or adjust invoices so it comports with industry standards,” said Jay Adams, Citizens’ chief of claims.
Without debate, the board unanimously approved the five-year contract, which includes two one-year extensions, with Lynx Services, LLC.
Rising water claims have been a growing concern for Citizens officials. The property insurer, which is backed by the state, is advancing a 6.8 percent statewide rate hike for its nearly 500,000 policyholders, citing rising water-damage claims as a key reason for the premium increase.
