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Tag Archives: insurer

Hailstorm claims exceed $209M; Chaney expects more

METRO JACKSON — The latest report from Mississippi’s major insurance carriers on the March hailstorm to the Mississippi Insurance Department (MID) shows that both claim and payment numbers continue to rise. As of the April 15 reporting period over 56,000 homeowner and automobile damage claims have been filed and claims payments are at $209.4 million, according to the MID. “Companies ...

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Chaney expects insurers to pay only $24M for Isaac damage

ACROSS MISSISSIPPI — Private insurers expect to pay more than $24.3 million in claims in Mississippi as a result of Hurricane Isaac, Insurance Commissioner Mike Chaney says. Chaney says that as of yesterday, Mississippi’s 21 largest insurers had received 9,400 claims and paid $8.6 million. That’s tiny compared Hurricane Katrina’s $41 billion in insured damage nationwide. Isaac is expected to ...

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Report: Primary insurers to bear most of Isaac-related losses

NEW YORK — Fitch Ratings says it anticipates losses related to Isaac will be largely borne by primary insurers, but estimates remain uncertain. Fitch wrote: “Though Isaac carries significant threat, new flood control systems built post-Katrina are expected to limit the surge from Isaac in the New Orleans region. “Catastrophe modeler AIR Worldwide reported an initial estimate of industry insured ...

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Chaney: State will receive nearly $1M from AIG settlement

JACKSON — Mississippi will receive nearly $1 million in fines, penalties and taxes from American International Group Inc. (AIG) and its workers’ compensation insurance affiliates, according to the Mississippi Insurance Department. The monies are a result of a 2010 settlement agreement in a multi-state market conduct examination of AIG for its writing and financial reporting practices regarding workers compensation insurance ...

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Transparency is the best medicine

Health Insurer Code of Conduct may improve the quality of care Many of us entered med school for the age-old reasons generations before have gone into the profession — out of an interest in helping people and curing what ails them As a young physician in my first months of practice, I remember prescribing the “gold standard” to one of ...

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