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 [...] [...]
MADISON — Fitch Ratings has placed the ratings of Old Republic International Corporation’s (ORI) and its insurance company subsidiaries, including Mississippi Valley Title Insurance Company, on “Rating Watch Negative.”
Fitch reports: “The Rating Watch reflects uncertainty as to ORI’s ability to continue to avoid a covenant breach under its debt obligations in light of ongoing challenges [...] [...]
by MBJ Staff Published: January 25,2012
Tags: bank, banking, cellphones, finance, financial institution, insurance, investing, investments, investors, mobile app, publicly traded company, shares, smartphones, stock, telecommunications
TUPELO — BancorpSouth Inc. has closed an underwritten public offering of 10,952,381 shares of its common stock at a price to the public of $10.50 per share. The gross proceeds from the offering, before expenses, were $109.3 million.
The proceeds from the offering will be used by the financial institution for general corporate purposes, including to [...] [...]
HERANADO — DeSoto County supervisors have approved refinancing $22 million in 2004 general obligation bonds, a move that could save $900,000.
The Commercial Appeal reports the board also approved a health coverage pact for county employees. The new plan keeps rates flat.
The current interest rate the county must pay from 2015 to 2024 ranges from 4.25 [...] [...]
by MBJ Staff Published: January 5,2012
Tags: businesses, damages, drought, flooding, floods, hail, homes, houses, insurance, rain, residences, severe weather, tornadoes, tropical storms, tropical weather, Weather, wind
ACROSS MISSISSIPPI — Insurance companies will pay more than $32 billion in claims to help people rebuild homes and businesses damaged or destroyed by natural disasters in 2011, a record year for federal disaster declarations, according to the Insurance Information Institute (I.I.I.).
“Catastrophes striking the United States in the first nine months of 2011 caused $32.6 [...] [...]
HATTIESBURG — Hancock Bank has renamed Hattiesburg-based Ross King Walker as Hancock Insurance Agency.
Hancock Bank acquired 103-year-old Ross King Walker (RKW) in 2004, and RKW retained its name as a division of Hancock Insurance Agency, a wholly owned subsidiary of Hancock Bank founded in 1902. RKW executives said the decision to rename RKW as Hancock [...] [...]
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 Associated Press Published: December 21,2011
Tags: courts, federal government, health, healthcare, healthcare benefits, insurance, law enforcement, lawsuit, settlement, state government
JACKSON — The federal government says Mississippi must turn over $17 million of a $20 million settlement with pharmaceutical companies accused of inflating wholesale prices.
Attorney General Jim Hood told The Clarion-Ledger the state doesn’t owe anything, because the companies paid the federal government under separate settlements.
“I will sue to stop (them) from double-dipping,” Hood said [...] [...]
Ross & Yerger Insurance is pleased to announce the promotion of two employees. In its Tupelo office, Marilyn Jones has been promoted to vice president. She has been employed with Ross & Yerger since 1986, and has 25 years of personal lines insurance experience. Jones was chosen as Insurance Woman of the Year by the Insurance [...] [...]
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 [...] [...]
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