posted on Jun, 2 2006 @ 11:34 AM
So why after all this time is this insurance carrier dropping all earthquake
insurance coverages? I can't prove it, but wanna' bet they had their own
private study done and the numbers came up against them? I guess we
will have to see if other insurance companies follow along. hmmmmm
This will effect a lot of things in the economy, including new houses being
built and sales of older homes that are already lived in. Who is going to
buy a house or enter a community where the insurance people have
decided it's too big of a risk to insure?
I'm not blaming the insurance people. Not at all. It's common sense
NOT TO BUILD in certain places .. like New Orleans ...
But I just wonder why now? This is their explaination -
Kreidler said Hurricane Katrina has the insurance industry
re-thinking its exposure to mass disasters. And when they start
pulling away from those risks, they start evaluating other risks as
well, including tsunami's and earthquakes.
But there are potential risks everywhere .. so why Seattle and why now??
[edit on 6/2/2006 by FlyersFan]