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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

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drpepperTX Champion Author Texas Posts:8,950 Points:753,185 Joined:Apr 2011	Message Posted: Jul 25, 2012 1:17:05 AM Ignore drpepperTX Report Abuse 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]
LetemEatCake Champion Author Oklahoma City Posts:5,609 Points:1,206,580 Joined:Mar 2008	Message Posted: Jul 25, 2012 12:07:52 AM Ignore LetemEatCake Report Abuse 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]
PDQBlues Champion Author San Diego Posts:7,079 Points:1,449,300 Joined:Jan 2009	Message Posted: Jul 24, 2012 11:27:26 PM Ignore PDQBlues Report Abuse Of course insurance companies will refuse to insure a bad risk. And fracking is a bad risk.
drpepperTX Champion Author Texas Posts:8,950 Points:753,185 Joined:Apr 2011	Message Posted: Jul 24, 2012 8:52:15 AM Ignore drpepperTX Report Abuse The laughable thing is how the OP of this thinks this is somehow a condemnation of oil and gas exploration!
58salty Champion Author Jacksonville Posts:6,645 Points:631,840 Joined:Aug 2011	Message Posted: Jul 24, 2012 7:55:08 AM Ignore 58salty Report Abuse OK
cdrrod Champion Author Wisconsin Posts:4,159 Points:785,500 Joined:Feb 2006	Message Posted: Jul 24, 2012 7:02:49 AM Ignore cdrrod Report Abuse Better switch to State Farm!
Tacodan Champion Author Cincinnati Posts:2,334 Points:655,370 Joined:Apr 2011	Message Posted: Jul 24, 2012 6:50:13 AM Ignore Tacodan Report Abuse old news...................
ReddevilNO Champion Author New Orleans Posts:3,381 Points:582,890 Joined:Aug 2011	Message Posted: Jul 24, 2012 6:46:54 AM Ignore ReddevilNO Report Abuse Whatever.
humblepie Champion Author Toledo Posts:34,284 Points:2,373,320 Joined:Mar 2006	Message Posted: Jul 24, 2012 6:15:58 AM Ignore humblepie Report Abuse such nonsense, just like trading rick nash
KrsnaDragon Champion Author Montreal Posts:2,417 Points:532,500 Joined:Nov 2011	Message Posted: Jul 24, 2012 5:08:10 AM Ignore KrsnaDragon Report Abuse Lol, this is too ridiculous! Who would have insurance from Nationwide Mutual?
TravelinMan52 Champion Author Augusta Posts:1,935 Points:965,595 Joined:May 2008	Message Posted: Jul 24, 2012 4:58:26 AM Ignore TravelinMan52 Report Abuse And State Farm will cover it in Texas??? Something strange going on here.
1WI All-Star Author Appleton Posts:818 Points:274,255 Joined:Jan 2012	Message Posted: Jul 24, 2012 2:13:35 AM Ignore 1WI Report Abuse State Farm ?
BJWI Champion Author Milwaukee Posts:6,420 Points:738,275 Joined:May 2011	Message Posted: Jul 24, 2012 1:36:00 AM Ignore BJWI Report Abuse Citizens will be on their own yet again ...
coughlin Champion Author San Jose Posts:5,190 Points:1,119,590 Joined:Sep 2009	Message Posted: Jul 24, 2012 1:35:26 AM Ignore coughlin Report Abuse Scary.
PetroScopper Champion Author Houston Posts:6,632 Points:1,551,925 Joined:Aug 2008	Message Posted: Jul 24, 2012 1:34:57 AM Ignore PetroScopper Report Abuse 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.
CDMAuto Champion Author Connecticut Posts:3,798 Points:755,640 Joined:Apr 2011	Message Posted: Jul 24, 2012 1:32:41 AM Ignore CDMAuto Report Abuse This is a wait and see.....
unicornpmb Champion Author Buffalo Posts:8,496 Points:1,630,490 Joined:Sep 2005	Message Posted: Jul 24, 2012 1:31:36 AM Ignore unicornpmb Report Abuse Now it starts.
yonasb Champion Author Houston Posts:3,463 Points:739,875 Joined:Apr 2011	Message Posted: Jul 24, 2012 1:31:04 AM Ignore yonasb Report Abuse ok
12766 Champion Author New York Posts:2,453 Points:1,485,365 Joined:Oct 2008	Message Posted: Jul 24, 2012 1:29:07 AM Ignore 12766 Report Abuse OK
reeneedan Champion Author San Jose Posts:1,200 Points:385,245 Joined:May 2011	Message Posted: Jul 24, 2012 1:28:01 AM Ignore reeneedan Report Abuse 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
kcboy Champion Author Utah Posts:3,978 Points:1,509,750 Joined:Jun 2005	Message Posted: Jul 24, 2012 1:27:05 AM Ignore kcboy Report Abuse ok
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Jul 24, 2012 1:25:26 AM Ignore hubcapLA Report Abuse They just keep trying but no one really believes them any more because they have cried "Wolf" too many times.
UseLessGasFolks Champion Author Iowa Posts:5,456 Points:1,297,800 Joined:Jul 2007	Message Posted: Jul 24, 2012 1:24:23 AM Ignore UseLessGasFolks Report Abuse "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.
razeware Rookie Author Oregon Posts:53 Points:26,040 Joined:Feb 2012	Message Posted: Jul 24, 2012 1:23:37 AM Ignore razeware Report Abuse ....
roadrunnerMO Champion Author Kansas Posts:8,416 Points:1,701,415 Joined:Jul 2008	Message Posted: Jul 24, 2012 1:20:42 AM Ignore roadrunnerMO Report Abuse Can do things safely without all those environmentalists... Too much EPA just like government trying to take over out lives in every other fashion.
Math6149 All-Star Author Jacksonville Posts:873 Points:1,798,125 Joined:Jan 2007	Message Posted: Jul 24, 2012 1:20:20 AM Ignore Math6149 Report Abuse Why?
carman11 Champion Author North Carolina Posts:3,348 Points:693,675 Joined:Jun 2011	Message Posted: Jul 24, 2012 1:20:08 AM Ignore carman11 Report Abuse Now isn't that just great. Lets just go back to the dark ages then everyone would be happy.
Bruno44 Champion Author Texas Posts:7,085 Points:1,770,145 Joined:Sep 2007	Message Posted: Jul 24, 2012 1:18:05 AM Ignore Bruno44 Report Abuse Let the enviros pay for it.
tessnlu Champion Author Missouri Posts:24,274 Points:1,109,190 Joined:Aug 2008	Message Posted: Jul 24, 2012 1:14:13 AM Ignore tessnlu Report Abuse fine
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: Jul 24, 2012 1:12:33 AM Ignore granitestater Report Abuse Insurance? Really??
TheeRedRam Champion Author Hartford Posts:3,173 Points:674,585 Joined:Jun 2011	Message Posted: Jul 24, 2012 1:11:04 AM Ignore TheeRedRam Report Abuse Oh Frack
ifallsguy Champion Author Minnesota Posts:5,180 Points:1,552,795 Joined:Apr 2007	Message Posted: Jul 24, 2012 1:10:10 AM Ignore ifallsguy Report Abuse no way to figure their exposure since the science on this is undetermined
krobp46 Champion Author Milwaukee Posts:2,721 Points:543,045 Joined:Sep 2011	Message Posted: Jul 24, 2012 1:10:08 AM Ignore krobp46 Report Abuse whatever
jimpeel Veteran Author Colorado Posts:462 Points:107,540 Joined:Mar 2005	Message Posted: Jul 24, 2012 1:09:47 AM Ignore jimpeel Report Abuse Typical. They don't want to pay when the time comes.
JohnofGB Champion Author Flint Posts:5,431 Points:1,098,145 Joined:Feb 2010	Message Posted: Jul 24, 2012 1:08:59 AM Ignore JohnofGB Report Abuse Certainly not in Pennslyvania
Prodaddy Champion Author Houston Posts:8,385 Points:1,897,035 Joined:May 2007	Message Posted: Jul 24, 2012 1:07:21 AM Ignore Prodaddy Report Abuse 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
Tundralimited2009 Champion Author Dallas Posts:38,812 Points:1,447,425 Joined:Feb 2009	Message Posted: Jul 24, 2012 1:06:46 AM Ignore Tundralimited2009 Report Abuse "If done properly"
RENEGADEGAS Champion Author Missouri Posts:14,924 Points:1,593,175 Joined:Jul 2008	Message Posted: Jul 24, 2012 1:06:30 AM Ignore RENEGADEGAS Report Abuse I wonder how much the greenie weenie groups paid this company to deny coverage. More propaganda is forth coming.
AmbuDriver All-Star Author San Bernardino Posts:690 Points:461,080 Joined:Aug 2005	Message Posted: Jul 24, 2012 1:04:48 AM Ignore AmbuDriver Report Abuse Can't really say that I blame them.
dave1745 Champion Author Gary Posts:1,262 Points:739,000 Joined:Dec 2010	Message Posted: Jul 24, 2012 1:04:14 AM Ignore dave1745 Report Abuse hmm
SparkieMi Champion Author Kalamazoo Posts:3,271 Points:590,335 Joined:Sep 2011	Message Posted: Jul 24, 2012 1:03:25 AM Ignore SparkieMi Report Abuse Time will tell....
wilbur_gas Champion Author Los Angeles Posts:1,702 Points:648,610 Joined:Mar 2011	Message Posted: Jul 24, 2012 12:58:36 AM Ignore wilbur_gas Report Abuse OK
gem1224 Champion Author Tulsa Posts:1,541 Points:491,640 Joined:May 2011	Message Posted: Jul 24, 2012 12:57:42 AM Ignore gem1224 Report Abuse Ok
umitb Champion Author Indianapolis Posts:3,681 Points:844,415 Joined:Apr 2010	Message Posted: Jul 24, 2012 12:57:24 AM Ignore umitb Report Abuse ok
PK33 Champion Author Ann Arbor Posts:1,454 Points:498,495 Joined:May 2011	Message Posted: Jul 24, 2012 12:56:27 AM Ignore PK33 Report Abuse 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
mfeldstein Champion Author Ottawa Posts:8,181 Points:1,932,430 Joined:Feb 2007	Message Posted: Jul 24, 2012 12:55:53 AM Ignore mfeldstein Report Abuse Insurance companies haven't covered acts of God; now they won't cover acts of man.
TheSnowstorm Champion Author Montreal Posts:8,629 Points:1,915,730 Joined:June 2005	Message Posted: Jul 24, 2012 12:47:01 AM Ignore TheSnowstorm Report Abuse Insurance companies (in general) are not in the habit of losing money.
PrinceLH Champion Author Ontario Posts:2,702 Points:539,995 Joined:Jun 2011	Message Posted: Jul 24, 2012 12:45:27 AM Ignore PrinceLH Report Abuse Insurance companies are crooks.
kgbellman Champion Author Ann Arbor Posts:2,723 Points:733,790 Joined:Mar 2011	Message Posted: Jul 24, 2012 12:44:45 AM Ignore kgbellman Report Abuse I don't blame them considering we don't know the long term impact
BobD2009 Champion Author Long Island Posts:6,999 Points:1,241,735 Joined:Apr 2009	Message Posted: Jul 24, 2012 12:43:02 AM Ignore BobD2009 Report Abuse State Farm will.