Nationwide Insurance Won't Cover Gas Fracking Drilling Exposure

[Rick Rowlands]

I think most insurance companies don't want to be in situations where they have claims arising from drilling activity on property they insure.  Or maybe the leadership of nationwide are liberals.

[Youngstownshrimp]

I believe that the Russian backed antifracking movement in our country again grasp at anything new to exploit and place in their arsenal.  For instance mortgages, they all claim banks will call in all notes if a lease is placed on a parcel.  First of all, no mineral rights are known to be encumbered by mortgages, they are historically encumbered only by energy companies.  This does not mean that banks are not currently scrutinizing minerals as they examine equity.  With insurance, it all depends on liability exposure.

[iwasthere]

kj that should be with all insurance coms. when it comes esp. to the fracking business.

[kenneyjoe330]

I am sure any insurance company will take your money  It is when the time comes to PAY that the 'fine print' shows up really clear and then litigation begins with one fracking step out of or maybe in  the hole at a time  .  You have to give Nationwide credit for telling people they will not pay right up front 

[iwasthere]

I use General and Progressive, they're outcompeting Nationwide.

what is their policy on clients that are involved in the fracking industry or customers that lease their lands to the gas and oil companies to frack their lands?

[Youngstownshrimp]

I use General and Progressive, they're outcompeting Nationwide.

[Rick Rowlands]

What is there to say?  The article already lays it all out.

[irishbobcat]

Funny how the pro frackers on this forum won't response to this.....lol

[irishbobcat]

http://www.lcountyfracking.org/archives/637