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Columbus, Ohio-based Nationwide says risks involved in fracking operations “are too great to ignore” and apply to policies of commercial contractors and landowners who lease property to gas companies.
Originally posted by dawnstar
thought about just resurrecting an old thread for this, but a search didn't come up with anything near being current so well, decided to make a new one.
to me, this is kind of worth letting everyone know about. I mean obviously at least one of the insurance companies think that the risks that fracking poses are too great to take on!
The National Casualty Company, which is part of the Nationwide Mutual Insurance Co., says it won’t cover damage related to hydraulic fracturing — or fracking .
www.syracuse.com...
Columbus, Ohio-based Nationwide says risks involved in fracking operations “are too great to ignore” and apply to policies of commercial contractors and landowners who lease property to gas companies.
wonder if other insurance companies are following suit??
yep, perfectly safe, no problem here, think I'll lease my land tomorrow!!
Originally posted by jdub297
Preliminary reports in the US have been based upon possible causes, but the public ignores the other likely casues such as poorly drilled or maintained water wells and natural seepage of gas
Methane and oil travel underground naturally and even come to the surface all by themselves in places.
Ever heard of "tar pits" or "hot springs?" .
Originally posted by dawnstar
reply to post by jdub297
putting yours and Valhall's comments together, just wondering here....
so, let's say that my neighbor has decided that he wants to make a few bucks by leasing his land out for fracking, and well, then suddenly, out of the blue, there's a massive earthquake where no earthquake has ever hit before.
the insurance company refuses to pay a dime, because, well, fracking has been sighted as a possible cause for the earthquake, while...the company doing the fracking says nonsense, there's other possible things that could have caused that earthquake!!
so, I am left with a huge mortgage to pay, a pit in the ground that once had a house on it, and told to eat my loss???
Originally posted by dawnstar
reply to post by Valhall
more than likely, since well the end result of the events outlined by we would be my walking away from mortgage, leaving the bank with a hole in the ground to foreclose on and a bankruptcy hearing.....
and well, we all know that the bank would trump both the insurance company and the fracking company!!! heck, they are too big to fail!!!
I just thought it might be news that would interest some of the readers here.
I mean, there's been fish kills associated with it..what if it was a pond that I just paid a large sum of money to stock, or my primary source of water, ect. ect....
for an insurance company to announce that they won't pay claims that are associated with fracking because of the risks involved kind of tells me that there are risks involved!!
Originally posted by dawnstar
not proven , as far as I know....
www.abovetopsecret.com...
ain't nothing gonna ever be proven, unless, well, something bigger than the energy companies come along and have more money to throw at washington and want a piece of the energy pie!!
the only thing that has been proven is that smoking kills...
although the same chemicals that are griped about in the cigs are being added to a large number of other products, and appearantly, they don't kill then....
Originally posted by Valhall
[Exactly and that's why I say it makes no sense that a personal property insurance company would even offer this coverage. UNLESS a property owner is requesting it because he thinks he can get a local mom and pop bubba-gump with a pump truck to boost his own personal oil well. And if I were a personal property insurance company I would run like my hair was on fire from that scenario!
If people would just take the time to learn how a well is completed and WHERE the fracturing zones are relative to any water tables, they would understand how they have been jerked by the ring in their nose.
Originally posted by dawnstar
reply to post by jdub297
putting yours and Valhall's comments together, just wondering here....
so, let's say that my neighbor has decided that he wants to make a few bucks by leasing his land out for fracking, and well, then suddenly, out of the blue, there's a massive earthquake where no earthquake has ever hit before.
the insurance company refuses to pay a dime, because, well, fracking has been sighted as a possible cause for the earthquake,
while...the company doing the fracking says nonsense, there's other possible things that could have caused that earthquake!!
so, I am left with a huge mortgage to pay, a pit in the ground that once had a house on it, and told to eat my loss???
Originally posted by dawnstar
reply to post by Valhall
for an insurance company to announce that they won't pay claims that are associated with fracking because of the risks involved kind of tells me that there are risks involved!!
the only thing that has been proven is that smoking kills...
Originally posted by dawnstar
reply to post by jdub297
so, let's assume I am right, and I am covered for earthquakes...but well, it's possible that the earthquake was caused by the fracking and the insurance company feels that they have enough evidence to deny the claim...
and, well, ya, red cross would help house me for awhile, but they wouldn't pay for the mortgage for the home that is no longer there, so I would still be stuck paying it
and well, we don't make enough money to pay for a home we can no longer live in along with the rent for another suitable place to live...
yes there are risks in life, but, one should be able to avoid that risk if one choses to . with fracking, it seems that alot of people are trying to avoid it, but the gov't and industry is trying to force them to accept the risk....
my guess would be that only the citizens would be taking the risk here....
the industry and insurance companies would be risk free!