I had a filter with a water drain off but I have replaced it. The new quicksilver unit is detailed as filter and water separator but it looks just like a screw on filter. So the question is how does this work?
The filter cartridge does two jobs: it filters particulates out of the fuel and is made of stuff that will absorb water, as well as being shaped so that water tends to fall to the bottom of the casing. Therefore needs changing regularly as it becomes saturated with water if any is present in the fuel.