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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.

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