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 resort for [...] [...]
by Associated Press Published: December 27,2011
Tags: courts, flood insurance, homeowners, homeowners insurance, homes, hurricanes, insurance, severe weather, tropical weather, Weather
PASCAGOULA — The Mississippi Supreme Court has overturned a judgment for an insurance company in a wind vs. water case involving a Pascagoula home hit by 6.3 feet of storm surge during Hurricane Katrina in 2005.
The National Flood Insurance Program paid Michael Robichaux and his wife, Mary, who has since died, policy limits for the [...] [...]
by MBJ Staff Published: December 16,2011
Tags: federal government, flood insurance, flooding, floods, homeowners insurance, insurance, levees, rain, severe weather, Weather
WASHINGTON — U.S. Senators Thad Cochran (R-Miss.) and Roger Wicker (R-Miss.), are encouraging community leaders, engineers and people in flood-prone areas to assess and then comment on a new “levee-inclusive” risk assessment process that will replace the “without levee” method criticized by the lawmakers earlier this year.
The Federal Emergency Management Agency has opened a 45-day [...] [...]
by MBJ Staff Published: October 20,2011
Tags: flood insurance, flood protection, flooding, floods, homeowners, homeowners insurance, homes, houses, rains, real estate, residential real estate, severe weather
WASHINGTON — U.S. Senators Thad Cochran (R-Miss.) and Mark Pryor (D-Ark.) have launched an effort to convince their colleagues to overturn a provision in Senate legislation that would require federal flood insurance coverage in areas already protected by levees, dams or other flood control structures.
Cochran and Pryor are asking their colleagues to join them in [...] [...]
by Associated Press Published: October 11,2011
Tags: courts, disaster, disaster recovery, homeowners, homeowners insurance, homes, houses, hurricanes, insurance, lawsuit, natural disaster, rain, real estate, residences, severe weather, storm surge, tropical weather, water, Weather, wind
PASCAGOULA — A decision is pending from the Mississippi Supreme Court in another wind-versus-water case, this one involving a Pascagoula home subjected to 6.3 feet of storm surge.
The National Flood Insurance Program paid Jackson County sheriff’s deputy Michael Robichaux and his wife, Mary, who has since died, policy limits for the loss of their home [...] [...]
by MBJ Staff Published: August 26,2011
Tags: disaster, flood insurance, flooding, floods, homeowners insurance, homes, houses, housing, insurance, natural disaster, rain, real estate, residences, severe weather, Weather
JACKSON — Attorney General Jim Hood is requesting the help of Mississippi’s congressional delegation in asking for a federal waiver of the Federal Emergency Management Agency’s (FEMA) flood mitigation ordinance for hunting and fishing camps.
A recent opinion by the Attorney General’s Office highlights a conflict between state law and FEMA regulations. The opinion recognizes an [...] [...]
MISSISSIPPI GULF COAST — State Insurance Commissioner Mike Chaney says property insurance rates in Mississippi have leveled off for the time being.
The Sun Herald reports Chaney told a meeting of the Gulf Coast Business Club that more carriers have entered the insurance market but many of them are not writing on the Gulf Coast.
Many private [...] [...]
MISSISSIPPI GULF COAST — The Mississippi Windstorm Underwriting board of directors, better known as the Wind Pool Board, just completed the purchase of $815 million in reinsurance coverage for the upcoming year.
Wind Pool Board member Mark Cumbest, broker-owner of Cumbest Realty Inc., said, “I am delighted that we were able to purchase an additional $65 [...] [...]
WASHINGTON — U.S. Senators Roger Wicker (R-Miss.) and Thad Cochran (R-Miss.) have called for the Federal Emergency Management Agency (FEMA) to offer lawmakers its recommendations for reforming the National Flood Insurance Program (NFIP), which needs to be reauthorized this year.
In a letter to FEMA Administrator Craig Fugate, the senators requested FEMA provide these recommendations as [...] [...]
ACROSS MISSISSIPPI — Mississippi Insurance Commissioner Mike Chaney says Allstate Property and Casualty Co. will increase homeowner insurance rates 19.4 percent in Mississippi.
Chaney told The Sun Herald newspaper that Allstate was threatening to drop 18,000 policyholders unless he allowed a rate hike of at least 44 percent. He said he “worked diligently to negotiate the [...] [...]
Loading ...