Nationwide Mutual Insurance Co. is making headlines today by being the first major insurance company to say it’s not covering damage related to gas drilling process called fracking.

The Associated Press reported the story after the controversial policy came to light when an internal memo by Nationwide surfaced on anti-fracking websites.

The AP article quotes the memo:

“After months of research and discussion, we have determined that the exposures presented by hydraulic fracturing are too great to ignore. Risks involved with hydraulic fracturing are now prohibited for General Liability, Commercial Auto, Motor Truck Cargo, Auto Physical Damage and Public Auto (insurance) coverage.”

Fracking opponents are citing the memo as proof that fracking, a process that extracts natural gas from underground deposits by injecting fluid at high pressures into rocks underground, is unsafe.

» Via: The Huffington Post › Nationwide Insurance: Fracking Damage Won’t Be Covered