Insurer Won’t Cover Gas Drill Fracking Exposure

[white cloud]

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.

The process injects chemically treated water into wells to fracture shale thousands of feet underground and release trapped gas or oil. There are rich shale deposits in parts of Pennsylvania, New York, Ohio, West Virginia and elsewhere.
http://dfw.cbslocal.com/2012/07/13/insurer-wont-cover-gas-drill-fracking-exposure/

[Ilsa]

1. What was insured? The real estate?

Roads to and from the property degraded by big trucks? The big trucks that are damaged from driving on said roads? Health problems from drinking fracked water?

[mbperrin]

2. Insurance is another scam. You're covered, right up until

something happens. Then it's an act of God, force majeur, or whatever. Why don't they just write on your payment receipt, "Thanks, sucker!"

It'd be a lot more honest.

[sonias]

3. Insurance companies are the worst kinds of scammers

They won't cover anything. It's a big rip off industry.