Missouri insurance regulator wants to end confusion over quake coverage
Jefferson City, Mo. – Missouri insurance regulators want to clear up confusion about buying earthquake coverage in the state.
Insurance director John Huff said many agents have been asking him about the availability and cost of earthquake insurance, especially in the New Madrid seismic zone.
Huff says his department is surveying the 20 largest insurers to find out what earthquake coverage they offer - if any - along with rates and deductibles.
A task force created by former Gov. Matt Blunt reported last year that Missouri is the nation's third-largest market for earthquake insurance.
In 2007, Missouri homeowners and businesses spent about $80 million on earthquake coverage. Only people in California and Washington spent more.