MISSISSIPPI GULF COAST — Jackson County board member Mark Cumbest says Mississippi’s insurer of last resort has bought $815 million in reinsurance for the coming storm season. Reinsurance — essentially insurance for insurers — is a major driver of policy premiums. It protects the Mississippi Windstorm Underwriting Association from debilitating claims, such as those created [...] [...]
by Associated Press Published: January 30,2012
Tags: flood insurance, homeowners insurance, hurricanes, insurance, real estate, severe weather, state government, storm surge, tropical weather, Weather, wind, Wind Pool
MISSISSIPPI GULF COAST — Members of Mississippi’s wind pool board are in London this week to seek low reinsurance rates — a key factor in the cost of policyholders’ premiums. The Mississippi Press reports that the board left Saturday and are expected to return Friday. The Mississippi Windstorm Underwriting Association is the insurer of last [...] [...]
MISSISSIPPI GULF COAST — Gov. Haley Barbour’s veto of legislation giving an additional $20 million to the Mississippi Windstorm Underwriting Association (Wind Pool) will not increase coastal rates this year and will not have an immediate impact on coastal Wind Pool rates, according to Insurance Commissioner Mike Chaney. “In the previous fiscal year, the Legislature [...] [...]
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