Filed Under:Carrier Innovations, Regulation/Legislation

Higher Rates, Lack of Coverage Likely After States' Hurricane Deductible Decision: Industry Rep

Credit: NOAA
Credit: NOAA

Insurance companies are smarting over the decision by six states and the District of Columbia to tell insurers they cannot impose hurricane deductibles for losses suffered from “Superstorm” Sandy.

Neil Alldredge, senior vice president, state & policy affairs, for the National Association of Mutual Insurance Companies, says the ultimate impact from the decision will likely be higher insurance rates for everyone.

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