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Mississippi Denies State Farm Rate Increase

Mississippi Insurance Commissioner Mike Chaney recently denied State Farm Fire and Casualty Co.'s average 45 percent rate increase for homeowners in three coastal counties and...
September 15, 2009

Mississippi Insurance Commissioner Mike Chaney recently denied State Farm Fire and Casualty Co.'s average 45 percent rate increase for homeowners in three coastal counties and requested additional information from the firm. It could be several months before a final decision is made, but Chaney says he expects to ultimately deny the request. "State Farm told us they would not write any new business on the Gulf Coast even if we gave them the rate increase. I don't know what the incentive would be to even give them a rate increase," says Chaney.

Chaney Denies Insurance Hike (Biloxi MS Sun-Herald 9/9/09)

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