Mississippi Business Journal » Joe Shumaker

Windpool, private insurer on coast confident they can handle Isaac risks

Ted Carter — Sun, 02 Sep 2012 06:01:19 +0000

As Isaac bore down on the northern Gulf Coast last week, newly purchased reinsurance allowed the head of the Mississippi Windstorm Underwriting Association to concentrate on the storm’s path and its aftermath rather than worry over covering claims. The new reinsurance — and Windstorm Underwriting Association chief Joe Shumaker’s sense of security — had been [...]

The post Windpool, private insurer on coast confident they can handle Isaac risks appeared first on Mississippi Business Journal.

A man of many hats

Lynn Lofton — Sun, 13 Mar 2011 06:00:34 +0000

Shumaker must be versatile at the state rating bureau Joe Shumaker has had a long career with the Mississippi Rating Bureau, where he began working at age 20. He currently wears three hats as manager of the three separate entities at the bureau. There’s the Mississippi Rating Bureau, established by state law in 1924, which [...]

The post A man of many hats appeared first on Mississippi Business Journal.

Coast homeowners not likely to see insurance rate increase in 2011

Amy McCullough — Sun, 27 Feb 2011 06:00:47 +0000

Coast residents want people to understand that their high homeowners’ insurance rates affect everyone. And now that the state of the economy ensures that no more federal and state subsidies are likely, residents dependent on the state’s public insurance program called the Wind Pool could eventually face a rate increase. As studies have pointed out, [...]

The post Coast homeowners not likely to see insurance rate increase in 2011 appeared first on Mississippi Business Journal.

Insurance rates hinge on local standards

Ted Carter — Sun, 31 Oct 2010 06:00:58 +0000

Economy could force changes in urban and rural fire operations Steps taken by Mississippi’s state government during the last 23 years are credited with keeping today’s home and business fire insurance rates stable. But budget problems in urban fire departments and manpower shortages in rural ones threaten the hard-won stability. As the recession lingers, localities [...]

The post Insurance rates hinge on local standards appeared first on Mississippi Business Journal.

Coastal American set to grow as coastal insurer

Ted Carter — Sun, 31 Oct 2010 06:00:39 +0000

New insurance firm staking its viability on belief water — not wind — is biggest threat to Gulf homes A little more than seven months after it began providing wind and flood coverage to homeowners along Mississippi’s coast, Coastal American Insurance Co. is ready to take on several thousand new policyholders, says Ned Dolese, a [...]

The post Coastal American set to grow as coastal insurer appeared first on Mississippi Business Journal.

Proximity pays OFF

Ted Carter — Sun, 31 Oct 2010 06:00:10 +0000

Fire Ratings Bureau more concerned with nearness of fire services than number of homes to be served Want to pay less for fire insurance? Move next door to a fire station, even if the neighborhood is jam packed with dwellings. In fire insurance, as in real estate, location is everything. When Joe Shumaker and his [...]

The post Proximity pays OFF appeared first on Mississippi Business Journal.