Earthquake risk rattles Allstate

Updated: 7:00 p.m. ET March 26, 2006
The chance of a major earthquake hitting Ohio may be low, but it's not remote enough for one major insurer.
Allstate Insurance Co., battered over the past 15 months by seven of the 10 most-expensive catastrophes in the company's history, is taking steps to reduce its exposure to disasters by discontinuing writing residential and commercial earthquake coverage in most of the nation, including Ohio. The company also is planning to shed some of the 407,000 earthquake policies it has in force nationwide.
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