Mississippi homeowners insurance Archives

Mississippi agency offers advice concerning homeowners insurance following recent storms

January 5, 2016January 3, 2016 Logan B.

Storms have damaged properties in some parts of the state Recent storms in Mississippi have caused problems for many homeowners, who have seen their properties damaged by the storms. The Mississippi Department of Insurance is urging those affected by these storms to file homeowners insurance claims as soon as possible. The organization is also offering advice concerning the claims filing process, and agency representatives are on hand to assist in filing claims to ensure that consumers are taken care of by their homeowners insurance providers. Consumers are being encouraged to…

Insurance industry clarity bill signed into law in Mississippi

May 6, 2015May 5, 2015 Marc

Mississippi Homeowners Insurance Industry

Mississippi Governor Phil Bryant signs clarity bill into law Mississippi’s Insurance Clarity has been signed into law by Governor Phil Bryant. The bill is meant to ensure more transparency in the insurance industry, forcing companies to provide more information concerning the premiums they collect and the losses they face in doing business. Transparency has become an important issue for the insurance industry, where many consumers have voiced their concerns that insurers do not offer enough information and attempt to hide this information in order to preserve themselves. Insurance industry will…

Mississippi homeowners insurance companies targeted by new legislation

February 4, 2014February 1, 2014 Logan B.

Lawmakers seek out answers concerning troubling insurance trends Mississippi lawmakers may soon pass legislation that will require the state’s property insurance companies to disclose how much they collect in premiums and how much money they spend on claims. This legislation would target insurers that provide coverage for the damage associated with hurricanes. Most insurance companies only provide coverage for wind damage, as flood insurance is primarily a matter for the federal government to handle. State officials suggest that insurers are not always straightforward with the information they provide concerning damage…

Homeowners insurance claims pour in following hail storm

March 21, 2013April 30, 2013

The widespread damage in Mississippi also lead to hundreds of auto filings within the first few hours. Within the first days following the hailstorms in Mississippi, hundreds of auto and homeowners insurance claims have been coming in due to the damage that had been left behind in the state’s capital city and surrounding areas. Authorities have yet to calculate precisely how many structures and vehicles were damaged. It looks as though Jackson and its suburbs faced the heaviest damage in the state. According to a Farm Bureau Insurance employee, Jim…

Hurricane Isaac may make its way to Mississippi

August 28, 2012 S.Vagus

Isaac matures into a hurricane and Mississippi prepares for storm’s arrival Tropical Storm Isaac has matured into a full-fledged hurricane as it made landfall in Florida early Monday. According to Florida’s Citizens Property Insurance, more than 300 claims have been generated by the storm already, with many more expected in the coming days. Isaac’s path is expected to continue well beyond Florida, reaching as far as Mississippi, where that state’s Department of Insurance is taking the time to remind homeowners to take caution before evacuating their property if such action…

Legislators look to revoke insurance mandate on areas protected from floods

October 20, 2011May 7, 2013

Two legislators are looking to reverse federal flood-insurance mandates requiring property owners in areas protected by flood-control structures to have flood insurance. Senators Thad Cochran of Mississippi and Mark Pryor of Arkansas say that the mandate presents an undue financial burden to those living in areas that are not prone to floods due to the protective measures taken against such a happening. The legislation in question is part of the National Flood Insurance Program, which itself is the subject of much debate in Congress due to its financial instability. The…

Mississippi homeowners insurance increase approved

April 15, 2011April 15, 2011 Marc

Beginning in June some residents of Mississippi could see their homeowners insurance rates go up. The state Insurance Commissioner has been in negotiations with Allstate Insurance Company for almost a year and a half, before the two reached an agreement. In 2006 Allstate was given the ok to raise rates in Mississippi by 29 percent, with three of the counties considered coastal being raised by 90 percent. In 2008 they petitioned for another rate increase and were given approval for a 14 percent statewide average increase. When Allstate filed for…