Tuesday, February 06, 2007

Insurers Refuse to Renew Policies along East Coast

Insurers are refusing to renew policies in Long Island and along the New York coastal area for fear of hurricanes.

Insurers claim they are "overexposed" in certain areas and are cutting back to avoid huge payouts. State law limits the yearly number of nonrenewals to 4% of a company's policies.

Richard J. Dalton, Newsday 02/02/2007
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