Gas Leasing & Nationwide Insurance

Coming up on the Capitol Pressroom –

“From an underwriting standpoint, we do not have a comfort level with the unique risks associated with the fracking process to provide coverage at a reasonable price.”

— Nancy Smeltzer, Spokesperson, Nationwide Insurance via email to Capitol Pressroom on 7/12/12

“What homeowners and our elected officials in Albany will now learn is that homeowner’s insurance not only doesn’t cover fracking (which we all should know) but that that homeowners risk losing their homeowner’s coverage IF there is drilling activity on/under their property—and a residence without homeowner’s could mean losing a mortgage and not having coverage for other day to day losses.”

— Attorney Elisabeth Radow via email to the Capitol Pressroom on 7/12/12

Attorney Elizabeth Radow, author of the November, 2011 NYS Bar Association cover story on insurance & risks related to gas leasing will be my guest. She has developed a spacing unit risk management plan in the event NYS approved fracking.

Additionally, we will be joined by anti-fracking pol State Senator Tony Avella.

An economist from the Insurance Information Institute will participate as well to address how Nationwide’s announcement may affect other insurers. Nationwide is the #1 farm insurer in the country. In January 2012, Nationwide and the NYS Farm Bureau announced a “historic” partnership. The NYFB has held a pro-fracking position for the past several years. On Monday we will speak with the NYS Farm Bureau about this development.

Finally, a mini reporter roundtable featuring Freeman Klopott of Bloomberg and Rick Karlin of the Times Union.