Insurance companies are smarting over the decision by six states and the District of Columbia to tell insurers they cannot impose hurricane deductibles for losses suffered from "Superstorm" Sandy.
Neil Alldredge, senior vice president, state & policy affairs, for the National Association of Mutual Insurance Companies, says the ultimate impact from the decision will likely be higher insurance rates for everyone.
Moreover, Alldredge says, it will result in another rethinking by companies as to how much coastal risk they can afford to underwrite.
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