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Allstate drops quake policies
By ASSOCIATED PRESS
Published June 3, 2006
Allstate Insurance Co. says it is dropping earthquake insurance to most of its 407,000 quake customers nationwide as a part of a larger move to reduce exposure to catastrophic losses. Allstate spokesman Mike Siemienas said four states - Kentucky, Connecticut, Rhode Island and Florida - require the company to offer earthquake coverage, but the company is in various stages of talks with regulators there. Another spokesman, Mike Trevino, said 540 earthquake policies are in force in Florida, out of more than 500,000 policies statewide. Last month, Allstate Floridian said it is dropping 174,000 homeowners policies in Florida, about 17,000 in the Tampa Bay area, because of hurricane exposure.
[Last modified June 3, 2006, 06:11:00]
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