by Associated Press Published: June 23,2011
Tags: homeowners insurance, insurance, insurance rates, real estate
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. [...] [...]
by For the MBJ Published: April 19,2011
Tags: homeowners insurance, homes, hurricanes, real estate, severe weather
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 [...] [...]
by For the MBJ Published: April 19,2011
Tags: disasters, flood insurance, floods, homeowners insurance, homes, insurance, real estate, severe weather, Weather
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 [...] [...]
by Associated Press Published: April 12,2011
Tags: auto insurance, homeowners, homeowners insurance, homes, insurance, real estate, state government
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 [...] [...]
by Associated Press Published: January 25,2011
Tags: courts, disaster, disaster recovery, homeowners insurance, homes, housing, hurricanes, insurance, real estate, Weather, whistleblower
GULFPORT — U.S. District Judge L.T. Senter Jr. has declined to dismiss a whistleblower lawsuit filed against State Farm Fire & Casualty Co. State Farm had sought dismissal of the 2006 lawsuit filed by Cori and Kerri Rigsby, who alleged State Farm and its engineering firms defrauded policyholders after Hurricane Katrina. It claimed the Rigsbys [...] [...]
by Associated Press Published: January 6,2011
Tags: disaster, homeowners insurance, housing, insurance, real estate, Weather
JACKSON — The Mississippi House has failed to override a governor’s veto of legislation that would have placed a $20-million subsidy into a state wind pool insurance fund. The vote yesterday was 68-52 in favor of an override, but at least 80 votes were needed for a two-thirds majority. Barbour vetoed the proposal last May. [...] [...]
by Wally Northway Published: March 18,2010
Tags: disaster preparedness, disaster recovery, homeowners insurance, housing, real estate
JACKSON — Gov. Haley Barbour says he prefers strengthening construction along Mississippi’s coastal counties to lower insurance rates rather than subsidizing insurance policies through the wind pool program. “Since Katrina I have emphasized the need to build back stronger than before,” Barbour said. “Working with the insurance commissioner, we’re putting $20 million into helping people [...] [...]
by Associated Press Published: March 3,2010
Tags: homeowners insurance, insurance, State Farm, wind mitigation
MISSISSIPPI GULF COAST — State Farm will offer discounts in Mississippi beginning May 1 for homes and rental property strengthened against wind damage. Insurance Commissioner Mike Chaney tells The Sun Herald that he approved State Farm’s plan to offer the mitigation discounts. They will apply to new construction and retrofits to older homes. Discounts range [...] [...]
by Associated Press Published: January 29,2010
Tags: homeowners insurance, housing, insurance, real estate, State Farm
TALLAHASSEE, Fla. — Thousands of State Farm Florida property insurance customers will be seeing notices in their mailboxes next week saying their policies will not be renewed, a company spokesman said Thursday. The first wave of notices will be mailed Monday to a selected number of the company’s policyholders who were set to renew Aug. [...] [...]
by Wally Northway Published: December 28,2009
Tags: disaster recovery, homeowners insurance, insurance, natural disaster, real estate
MISSISSIPPI GULF COAST — Wind Pool policyholders may soon find needed relief from rising premium costs with the transfer of $19 million from the Mississippi Insurance Department (MID) to the Mississippi Windstorm Underwriting Association, commonly referred to as the Wind Pool. The transfer of funds is in process, and should be completed by the first [...] [...]
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