First major insurance company to say it won't cover damage related to Fracking

[Viva_La_Revolution]

http://www.businessweek.com/ap/2012-07-12/us-insurer-wont-cover-gas-drill-fracking-exposure

ALBANY, N.Y. (AP) — Nationwide Mutual Insurance Co. has become the first major insurance company to say it won't cover damage related to a gas drilling process that blasts chemical-laden water deep into the ground.

The Columbus, Ohio-based company's personal and commercial policies "were not designed to cover" risk from the drilling process, called hydraulic fracturing, or fracking, Nationwide spokeswoman Nancy Smeltzer said Thursday.

[Canuckistanian]

1. Good!

Let's hope this starts a trend. Fracking isn't worth the risk.

And now, the gas companies will be forced to shoulder the FULL environmental costs, instead of shunting it off onto government.

[Scuba]

2. Well, if the R's get the tort reform they want, it won't matter. "Liability" will be antiquated.