Allstate Cutting Underwriting Of Certain Catastrophic Risks
It's always fascinating to watch what happens when facts collide with politicians. Here's a story about Allstate reducing its national exposure on catastrophic risks, including earthquake insurance, due to major losses. Allstate also has stopped underwriting hurricane insurance in the New York City area, leading to this meltdown from Sen. Chuck Schumer.
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Written By:Scott Jonsson
On April 4, 2006 12:27 PM
Does this mean Allstate will drop earthquake insurance in Oregon as well ?
We are much more earthquake prone than Ohio.... thoughts ?
"Senator Demands Allstate Continue Selling Homeowner Coverage without Raising Premiums"
That about says it all, doesn't it?
Maybe Ohio could take a page from Mexico's book with Earthquake CAT bonds. But how likely is Ohio to have an earthquake?
Memphis, on the other hand....
Word here in California is that Allstate has dropped all fire insurance coverage.
What happened to the "Good Hands" when thee times get rough?
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