Home » NEWS » Hailstorm claims exceed $209M; Chaney expects more

Hailstorm claims exceed $209M; Chaney expects more

METRO JACKSON — The latest report from Mississippi’s major insurance carriers on the March hailstorm to the Mississippi Insurance Department (MID) shows that both claim and payment numbers continue to rise.

As of the April 15 reporting period over 56,000 homeowner and automobile damage claims have been filed and claims payments are at $209.4 million, according to the MID.

“Companies continue to work with consumers as quickly as they can and again MID has had very few complaints about the claims process,” Commissioner of Insurance Mike Chaney said.

The most frequent question being asked of MID Consumer Services has to do with the total loss process for automobiles and delays caused by the volume of claims filed.

According to the aggregate figures reported to the MID, as of April 15 there have been over 15,000 homeowner claims and nearly 40,000 auto claims filed and paid.

The next reporting period during which insurance companies report updated figures to the MID is May 1, 2013. Commissioner Chaney said he expects the numbers will increase more at that time and will probably exceed 60,000 claims.

 

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 MBJ Staff

Leave a Reply

Your email address will not be published.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

*