Nationwide Won't Cover Fracking Losses
7/12/2012 (Updated 10:51:39 PM)Hydrofracking is again in the news, but for a reason that hasn't been much discussed during the usual debates about the controversial drilling process. This time it concerns insurance.
Fox 40 News has learned that Nationwide Insurance will not provide coverage for any fracking-related losses.
The insurance giant says fracking-related losses have never been a covered loss under its personal or commercial lines policies.
That means losses or damages involving cars and various types of vehicles, property, houses, and other possessions and valuables are not covered. However, Nationwide also says that claims are reviewed on a case-by-case basis.
A company spokesperson says "from an underwriting standpoint, we do not have a comfort level with the unique risks associated with the fracking process to provide coverage at a reasonable price."
The advice to those who want to make sure they are covered? Nationwide says the customer "should seek out an insurer that handles these customized types of insurance."
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