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.

Featured Video

Most Recent Videos

Video Library ››

Top Story

Taiwan earthquake collapses two high-rises. Shoddy construction investigated

The Taiwanese government has ordered an investigation into a building's collapse, as images show tin cans built into the walls of the toppled complex.

Top Story

20 of the wealthiest places in America

If you want to build your roster of high-net-worth clients, these are the cities you should be targeting.

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.