Reason? Global Warming.
Straight from the post:
Allstate plans to stop offering property insurance in nearly a dozen counties along the Chesapeake Bay starting in February.
The reason: the increased risk of hurricane damage due to rising ocean temperatures, possibly caused by global warming.
According to the Baltimore Sun, Allstate is part of a growing number of insurance companies that are refusing to cover hurricane-prone areas. The trend started in Florida, which sustained millions of dollars in damage from Hurricane Andrew, and is now moving up to our neck of the woods.
Source:
Washington Post, Global Warming Ate My Insurance Policy, Annys Shin | December 22, 2006; 7:50 AM ET
4 comments:
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