DISASTER As Weather Gets Biblical, Insurers Go Missing - Insurance Companies Bail On Homeowners

[RedRockCatalyst]

Because of the increase in natural disasters, insurance companies are bailing on homeowners. Some companies are pulling out of "weather challenged" states, altogether, meaning they will not write new homeowners policies and may not renew contracts with current policyholders. Others are simply refusing to pay for claims, even though policy holders have paid their premiums.
http://news.yahoo.com/insurers-rethink-coverage-weather-disaster-payouts-124608977.html

 

[Beetree]

Because of the increase in natural disasters, insurance companies are bailing on homeowners. Some companies are pulling out of "weather challenged" states, altogether, meaning they will not write new homeowners policies and may not renew contracts with current policyholders. Others are simply refusing to pay for claims, even though policy holders have paid their premiums.
http://news.yahoo.com/insurers-rethink-coverage-weather-disaster-payouts-124608977.html

Ahhh..aren't they kinda helping the bank take possession when they do this? Don't the mortgage papers say,"no insurance/NO mortgage?? Not a happy thought to think. The insurance companies would not work in cahoots with the banks would they?