"Nearly 7,000 Alaskans will lose their earthquake insurance as their policies come up for renewal in the coming months."
Allstate Insurance Co. is cutting its optional earthquake coverage nationwide, and will drop this plan as policies come up for renewal, said Caitlin Gorand, spokeswoman for Allstate's Northwest region.
"It's part of a larger catastrophic management strategy," Gorand said. "The insurance industry is in the business of managing risk. We're trying to manage our exposure to mega-catastrophes."
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Well that just doesn't sound like a very nice thing to do...
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