Insurers Retreat From Coasts

Submitted by Bill St. Clair on Tue, 02 May 2006 11:41:34 GMT  <== Politics ==> 

Spencer S. Hsu at The Washington Post - insuring coastal property isn't worth the premiums to Allstate and State Farm Insurance. So they're asking gummint to take over. Of course, the only rational alternative is to raise their rates to where they'll cover the cost and leave those who can't afford the insurance to move inland or go uninsured. Reality sucks sometimes, eh? [root]

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