Home » NEWS » Manufacturing » State Farm staying off Coast

State Farm staying off Coast

ACROSS MISSISSIPPI — A little more than two years after suspending the writing of new homeowners policies in Mississippi, State Farm is again writing new policies, except in the coastal counties of Hancock, Harrison and Jackson.

New policyholders will pay a little more for their policies. A roughly 3.9 percent statewide rate increase was approved by Insurance Commissioner Mike Chaney.

In the wake of Hurricane Katrina in 2005, State Farm was criticized for its handling of claims, and faced numerous lawsuits. In February 2007, citing Mississippi’s legal and business environment, State Farm suspended the writing of new homeowners policies in Mississippi.

Last January, State Farm announced it would resume writing renters insurance in Mississippi, except on the Coast.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply

Your email address will not be published. Required fields are marked *

*