Nationwide Insurance: Fracking Damage Won't Be Covered

[phantom power]

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.

http://www.huffingtonpost.com/2012/07/13/nationwide-insurance-fracking_n_1669775.html?utm_hp_ref=green

[pscot]

1. You can't really blame them.

I'm sure you could get a rider, if you're willing to pay for it.

[limpyhobbler]

2. ok it's too risky for Nationwide insurance to cover,

but government says the risk is acceptable for people's health.

The oil industry says it's perfectly safe.

This practice is dangerous for the people who leave near it and whose water comes from those areas.

The only thing driving this drilling is industry profits and government they bought.

[Nihil]

3. Good summary ...

> The only thing driving this drilling is industry profits and government they bought.

All of that "by the people, for the people" stuff is way out of date ...

[DavidDvorkin]

4. But I thought Nationwide is on your side.