Posts Tagged ‘insurance’

Chaney orders expansion of efforts to meet storm victims’ needs

JACKSON — Commissioner of Insurance and State Fire Marshal Mike Chaney is expanding the efforts of the Mississippi Insurance Department (MID) and State Fire Marshal’s Office in assisting victims of Monday’s storms. Chaney and his staff visited Richland, Pearl, Brandon, Louisville and Tupelo Tuesday to assess damage, and he has ordered extra personnel in place […] [...]

Chaney drops lawsuit against National Flood Insurance Program

JACKSON — The state of Mississippi’s lawsuit against the National Flood Insurance Program (NFIP) will be withdrawn pending the Federal Emergency Management Agency’s (FEMA) implementation of a new law passed by Congress “intended to alleviate some of the draconian rate increases facing Mississippi homeowners,” Commissioner of Insurance Mike Chaney said. Chaney and the Mississippi Insurance […] [...]

Fight between county, insurer over courthouse fire continues

ABERDEEN — A dispute over how much an insurance company owes Webster County for its burned courthouse has moved into federal court. The Webster County Board of Supervisors and Atlantic Specialty Insurance Co. have sued each other, with two separate cases now pending in U.S. District Court in Aberdeen. Officials have said an electrical short […] [...]

Senators push FEMA to implement flood insurance reform

WASHINGTON, D.C. — U.S. Sens. David Vitter (R-La.), Thad Cochran (R-Miss.) and John Hoeven (R-N.D.) have sent a letter to the Federal Emergency Management Agency (FEMA) Administrator Craig Fugate requesting a meeting to discuss a plan to implement the recently passed flood insurance reform law and reinstating rates as Congress intended. The senators want Fugate […] [...]

BancorpSouth buying Louisiana-based insurance firm

TUPELO — BancorpSouth Insurance Services Inc., a subsidiary of BancorpSouth Bank, has, signed a definitive agreement to acquire the assets of Lafayette, La.-based Knox Insurance Group, LLC. The transaction is expected to close immediately.  Financial terms of the pending transaction were not disclosed. “The Knox acquisition gives us an opportunity to meaningfully expand our market […] [...]

Chaney: New building codes law could save lives, money

JACKSON — Mississippi Insurance Commissioner Mike Chaney believes Mississippi’s citizens can have more confidence in the strength and resilience of their new homes and also potentially save money on insurance premiums with the signing of Senate Bill 2378, creating mandatory statewide building codes, if local leaders decide to operate under the new law. A mandatory […] [...]

Concerns still high about possible flood insurance hikes

GREENVILLE — Henry Nathaniel has escaped the rising tide of flood insurance costs for now, but he’s still worried. The retired 70-year-old owns a 1,650-square-foot house valued at less than $50,000 on Greenville’s north side. He was already paying a relatively steep $550 a year to the National Flood Insurance Program. Then he got a […] [...]

Bryant signs hurricane deductible bill into law

JACKSON — Mississippians will see uniform rules about when hurricane deductibles apply to their homeowners insurance under a law that Gov. Phil Bryant has signed. House Bill 756, sponsored by Biloxi Republican Scott DeLano, requires Insurance Commissioner Mike Chaney to rule that higher deductibles apply beginning when a hurricane watch or warning is issued somewhere […] [...]

Woman accused of submitting false claim for work-related injury

PASS CHRISTIAN — A Coast woman is being charged with insurance fraud, according Attorney General Jim Hood. Paulina Wilkerson, 40, of Pass Christian, turned herself in to authorities at the Harrison County Detention Center following her indictment by a Harrison County Grand Jury on insurance and wire fraud. The indictment alleges that Wilkerson executed a […] [...]

Security Plan completes purchase of Magnolia Guaranty

RIDGELAND — Security Plan Life Insurance Company has completed the purchase of Magnolia Guaranty Life Insurance Company. On March 7, Citizens Inc. subsidiary Security Plan completed its acquisition of Magnolia of Ridgeland for $5.23 million. Security Plan paid cash in exchange for 409,553 shares of Magnolia capital stock outstanding. In response to receiving the Mississippi […] [...]

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