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GasBuddy News Article

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US Insurer Won't Cover Gas Drill Fracking Exposure

ABC News - Associated Press -- 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.

Health and environmental groups claim fracking can contaminate drinking water. The gas industry says it's safe if done properly. Nationwid


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Submitted Jul 24, 2012 By: NHLiveFree
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: US Insurer Won't Cover Gas Drill Fracking Exposure Back to Topics
REPLIES (newest first) Post a Reply
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drpepperTX
Champion Author Texas

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Message Posted: Jul 25, 2012 12:17:05 AM

LOL, of course PDQ, why do you think State Farm is pushing insurance on earthquakes??? You anti oil and gas folks are too funny! LMAO.

[Edited by: drpepperTX at 7/25/2012 1:18:13 AM EST]
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LetemEatCake
Champion Author Oklahoma City

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Message Posted: Jul 24, 2012 11:07:52 PM

I would hate to try to PROVE to any insurance company that Fracking or any damage cause by Fracking was caused by Big Oil.

It is not because fracking does not cause damage...but I just know insurance companies!

Good article NH!

[Edited by: LetemEatCake at 7/25/2012 12:08:31 AM EST]
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PDQBlues
Champion Author San Diego

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Message Posted: Jul 24, 2012 10:27:26 PM

Of course insurance companies will refuse to insure a bad risk. And fracking is a bad risk.
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drpepperTX
Champion Author Texas

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Message Posted: Jul 24, 2012 7:52:15 AM

The laughable thing is how the OP of this thinks this is somehow a condemnation of oil and gas exploration!

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58salty
Champion Author Jacksonville

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Message Posted: Jul 24, 2012 6:55:08 AM

OK
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cdrrod
Champion Author Wisconsin

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Message Posted: Jul 24, 2012 6:02:49 AM

Better switch to State Farm!
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Tacodan
Champion Author Cincinnati

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Message Posted: Jul 24, 2012 5:50:13 AM

old news...................
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ReddevilNO
Champion Author New Orleans

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Message Posted: Jul 24, 2012 5:46:54 AM

Whatever.
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humblepie
Champion Author Toledo

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Message Posted: Jul 24, 2012 5:15:58 AM

such nonsense, just like trading rick nash
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KrsnaDragon
Champion Author Montreal

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Message Posted: Jul 24, 2012 4:08:10 AM

Lol, this is too ridiculous! Who would have insurance from Nationwide Mutual?
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TravelinMan52
Champion Author Augusta

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Message Posted: Jul 24, 2012 3:58:26 AM

And State Farm will cover it in Texas??? Something strange going on here.
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1WI
All-Star Author Appleton

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Message Posted: Jul 24, 2012 1:13:35 AM

State Farm ?
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BJWI
Champion Author Milwaukee

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Message Posted: Jul 24, 2012 12:36:00 AM

Citizens will be on their own yet again ...
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coughlin
Champion Author San Jose

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Message Posted: Jul 24, 2012 12:35:26 AM

Scary.
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PetroScopper
Champion Author Houston

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Message Posted: Jul 24, 2012 12:34:57 AM

I guess we can safely assume that Nationwide has set a precedence. Every insurance company will deny their customers coverage as well. I suppose that also makes it a little clearer how safe tracking actually is- really.
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CDMAuto
Champion Author Connecticut

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Message Posted: Jul 24, 2012 12:32:41 AM

This is a wait and see.....
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unicornpmb
Champion Author Buffalo

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Message Posted: Jul 24, 2012 12:31:36 AM

Now it starts.
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yonasb
Champion Author Houston

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Message Posted: Jul 24, 2012 12:31:04 AM

ok
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12766
Champion Author New York

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Message Posted: Jul 24, 2012 12:29:07 AM

OK
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reeneedan
Champion Author San Jose

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Message Posted: Jul 24, 2012 12:28:01 AM

only the future will tell who is right, so we better hope its the oil companies or we all will be up a shit creek without a paddle
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kcboy
Champion Author Utah

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Message Posted: Jul 24, 2012 12:27:05 AM

ok
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hubcapLA
Champion Author Louisiana

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Message Posted: Jul 24, 2012 12:25:26 AM

They just keep trying but no one really believes them any more because they have cried "Wolf" too many times.
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Jul 24, 2012 12:24:23 AM

"Nationwide said risks involved in fracking operations "are too great to ignore" and apply to policies of commercial contractors and landowners who lease property to gas companies."

A landowner might want to think twice before leasing their land to these fools.
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razeware
Rookie Author Oregon

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Message Posted: Jul 24, 2012 12:23:37 AM

....
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roadrunnerMO
Champion Author Kansas

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Message Posted: Jul 24, 2012 12:20:42 AM

Can do things safely without all those environmentalists... Too much EPA just like government trying to take over out lives in every other fashion.
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Math6149
Champion Author Jacksonville

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Message Posted: Jul 24, 2012 12:20:20 AM

Why?
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carman11
Champion Author North Carolina

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Message Posted: Jul 24, 2012 12:20:08 AM

Now isn't that just great. Lets just go back to the dark ages then everyone would be happy.
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Bruno44
Champion Author Texas

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Message Posted: Jul 24, 2012 12:18:05 AM

Let the enviros pay for it.
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tessnlu
Champion Author Missouri

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Message Posted: Jul 24, 2012 12:14:13 AM

fine
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granitestater
Champion Author New Hampshire

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Message Posted: Jul 24, 2012 12:12:33 AM

Insurance? Really??
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TheeRedRam
Champion Author Hartford

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Message Posted: Jul 24, 2012 12:11:04 AM

Oh Frack
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ifallsguy
Champion Author Arizona

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Message Posted: Jul 24, 2012 12:10:10 AM

no way to figure their exposure since the science on this is undetermined
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krobp46
Champion Author Milwaukee

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Message Posted: Jul 24, 2012 12:10:08 AM

whatever
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jimpeel
Veteran Author Colorado

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Message Posted: Jul 24, 2012 12:09:47 AM

Typical. They don't want to pay when the time comes.
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JohnofGB
Champion Author Flint

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Message Posted: Jul 24, 2012 12:08:59 AM

Certainly not in Pennslyvania
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Prodaddy
Champion Author Houston

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Message Posted: Jul 24, 2012 12:07:21 AM

They only want your insurance preminum, then when you have a claim they always find a reason not to pay. It is called a one way street
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Tundralimited2009
Champion Author Dallas

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Message Posted: Jul 24, 2012 12:06:46 AM

"If done properly"
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Jul 24, 2012 12:06:30 AM

I wonder how much the greenie weenie groups paid this company to deny coverage. More propaganda is forth coming.
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AmbuDriver
All-Star Author San Bernardino

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Message Posted: Jul 24, 2012 12:04:48 AM

Can't really say that I blame them.
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dave1745
Champion Author Gary

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Message Posted: Jul 24, 2012 12:04:14 AM

hmm
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Jul 24, 2012 12:03:25 AM

Time will tell....
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wilbur_gas
Champion Author Los Angeles

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Message Posted: Jul 23, 2012 11:58:36 PM

OK
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gem1224
Champion Author Tulsa

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Message Posted: Jul 23, 2012 11:57:42 PM

Ok
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umitb
Champion Author Indianapolis

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Message Posted: Jul 23, 2012 11:57:24 PM

ok
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PK33
Champion Author Ann Arbor

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Message Posted: Jul 23, 2012 11:56:27 PM

I'm with you Bellman, it's way too early to tell, and if one insurance company denies coverage, more will follow, or the price will increase significantly
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mfeldstein
Champion Author Ottawa

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Message Posted: Jul 23, 2012 11:55:53 PM

Insurance companies haven't covered acts of God; now they won't cover acts of man.
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TheSnowstorm
Champion Author Montreal

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Message Posted: Jul 23, 2012 11:47:01 PM

Insurance companies (in general) are not in the habit of losing money.
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PrinceLH
Champion Author Ontario

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Message Posted: Jul 23, 2012 11:45:27 PM

Insurance companies are crooks.
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kgbellman
Champion Author Ann Arbor

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Message Posted: Jul 23, 2012 11:44:45 PM

I don't blame them considering we don't know the long term impact
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BobD2009
Champion Author Long Island

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Message Posted: Jul 23, 2012 11:43:02 PM

State Farm will.
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