JACKSON — Allstate Property and Casualty Insurance Co.’s has requested a hearing on the denial of its 44 percent rate increase for Mississippi customers.
Insurance Commissioner Mike Chaney tells The Sun Herald that he plans to schedule the hearing for some time in January.
The Mississippi Insurance Department concluded in September the increase was unjustified, but Allstate argues it is warranted.
The commissioner usually hears appeals. Allstate has asked that Chaney appoint someone else because he already has stated he will not approve the increase without a court order.
Allstate requested the rate hike in March, after Chaney had rejected the company’s request for a 65 percent increase.
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