Allstate’s dropping earthquake endorsements from most of its homeowners
policies, according to this AP report:
Allstate Insurance Co. says it is dropping earthquake
insurance to most of its 407,000 quake customers nationwide as a part of a
larger move to reduce exposure to catastrophic losses.Allstate spokesman Mike Siemienas in Chicago said four states require the
company to offer earthquake coverage, but the company is in various stages
of talks with regulators there.He said the states are Kentucky, Connecticut, Rhode Island and Florida.
Additionally, the company will continue to renew earthquake coverage in New
Hampshire, New York and Pennsylvania.[...]California coverage is not affected by the Allstate decision, Gorand
said. It is covered by the California Earthquake Authority, which has about
750,000 policies in force covering about 13.5 percent of the state’s
homeowners