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December 26, 2006
Insurer to limit policies in Maryland
Allstate Corp., one of Maryland's largest insurers, will stop writing homeowners' policies in coastal areas of the state, citing warnings by scientists that a warmer Atlantic Ocean will lead to more strong hurricanes hitting the Northeast.The company will no longer offer new property insurance beginning in February in all or part of 11 counties mostly along the Chesapeake Bay and its tributaries. Existing customers won't be affected; a spokeswoman said Allstate intends to renew those policies even in coastal areas. It will continue to write new policies in Baltimore and Baltimore County.
......
Allstate's move will affect residents in Calvert, Dorchester, Somerset, St. Mary's, Talbot, Wicomico and Worcester counties and parts of Anne Arundel, Charles, Prince George's and Queen Anne's.
If other insurers follow suit this is going to be extremely bad for this area. You can't buy a home with a mortgage if you can't get insurance on it. As we've seen from our neighbors to the south that once the big boys move out of the insurance business in an area, it gets filled by much more dishonest and expensive replacements that slowly drain an area of the vitality. In places like Florida they have the tourist industry is able to prop up the drain on the local economy, but further North without that kind of offset, it's not clear to me how we will be able to keep the drain on our economy from happening. Definitely speaks to the need that once we get some real representation in the Governor's mansion and that we need to need to join West Coast and the other Northeastern states in restriction CO2 growth in our state and our country. I fear the people of District 31 are going to regret the lack of serious legislators in Annapolis during the next few years as things get worse.
[via America Blog]
Read more over at Baltimore Sun.
Posted by Jamison at December 26, 2006 9:00 AM
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Comments
Who said Kipke and Schuh aren't serious? Certainly an improvement over Cadden and Leopold...
Posted by: Ted at December 26, 2006 4:52 PM
Given that they are Republicans and given the track record of Republicans in Annapolis, I see no reason to expect that they will even try to be any more effective than their mentors Dwyer and Leopold. I could be totally wrong, but I expect to get the same level of poor service as I got from Dwyer and Leopold for the next four years from their disciples Kipke and Schuh. They will represent the most radical Republican ideals and not their constituents. It's just the way things are when you have Republicans in office.
Posted by: Jamison at December 27, 2006 9:30 AM