Brooklyn, NY – Insurers Canceling Homeowners Policies.

Brooklyn, NY – Insurers are declaring Brooklyn a high-risk hurricane zone—and canceling policies.

Allstate and other big firms have been nixing policies in neighborhoods like Park Slope and Ditmas Park, saying they’re vulnerable to a Katrina-like catastrophe. “There’s no differentiation [in terms of] distance to water,” notes insurance broker Banach, who says he’s seeing two or three non-renewals every week. Sure, the city’s surrounded by water, but it seems pretty boneheaded to tax owners all over Brooklyn without regard to how close they are to the coast, or whether they’re in flood zones. [gothamist]
[nymagazine]