Insurance companies are smarting over the decision by six statesand the District of Columbia to tell insurers they cannot imposehurricane deductibles for losses suffered from "Superstorm"Sandy.
Neil Alldredge, senior vice president, state & policyaffairs, for the National Association of Mutual InsuranceCompanies, says the ultimate impact from the decision will likelybe higher insurance rates for everyone.
Moreover, Alldredge says, it will result in another rethinkingby companies as to how much coastal risk they can afford tounderwrite.
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