Insurers: Coastal Policies Unnecessary

Wednesday, February 14th, 2007 Property

State lawmakers are mulling new rules that would prohibit insurers from pulling out of areas they deem risky, like Maryland’s coasts. But insurers met said Tuesday there’s no need for alarm and that lawmakers shouldn’t tinker with the insurance market. Senators were briefed on the insurance question Tuesday amid concerns about insurance availability after the state’s second-largest home insurer said last year it would stop writing new home policies in many coastal areas in Maryland.

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http://www.forbes.com/feeds/ap/2007/02/13/ap3424102.html

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