An exclusion for earthquakes caused by fracking, or drilling for oil using hydraulic fracturing to break apart the earth below the surface, has been refused by the Pennsylvania Acting Insurance Commissioner. See this Insurance Journal report on April 15, 2015 .
One of the reasons the Acting PIC gave for her action is that it is too difficult, she says, to prove that fracking causes earthquakes. This “official pronouncement” appears to be the real reason for rejecting the endorsement in Pennsylvania.
Tell that to Oklahoma.
If you are authorized to speak. Fracking companies settle most fracking damage claims and when they settle, the fracking companies demand secrecy, and they have done this for years. See Insurance Journal report from June 10, 2013. Of course, there are many reasons to settle and many reasons to demand secrecy.
Proof that fracking causes earthquakes does not appear to be an impediment to fracking companies’ settling these claims, however. The fracking companies and the insurance industry know that fracking causes earthquakes, of course. It is the reason that fracking companies settle fracking earthquake damage claims. See Insurance Journal Report on March 23, 2015.
Please Read The Disclaimer. ©2015 by Dennis J. Wall. All rights reserved.