Friday, July 13, 2012

Nationwide Is On Our Side: No Coverage For Drilling Damage

US insurance company, Nationwide Mutual Insurance Ompany, is the first to say it won't cover damage by gas drilling.  Nationwide said risks "are too great to ignore."   It's about time.

After months of research and discussion, we have determined that the exposures presented by hydraulic fracturing are too great to ignore. Risks involved with hydraulic fracturing are now prohibited for General Liability, Commercial Auto, Motor Truck Cargo, Auto Physical Damage and Public Auto (insurance) coverage.
It said "prohibited risks" apply to landowners who lease land for shale gas drilling and contractors involved in fracking operations, including those who haul water to and from drill sites, pipe and lumber haulers, and operators of bulldozers, dump trucks and other vehicles used in drill site preparation.

Read more here.
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1 comment:

  1. smurfetteJuly 14, 2012 at 11:57 AM

    Yes, when the insurance companies stop selling, you know you're doing something dangerous! Obviously, they can see the future and it's full of so many accidents that, even to bring money into their company for now, it's not worth it to sell the policies. Now, when will government see the dangers?

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