Save the Date.
377 days since November General Election.
Here is an article about Commissioner Chaney approving rate increases for State Farm and Allstate. These increases will hit insureds on the Coast particularly hard. You can click on a link in the Sun-Herald article to see the letters from the insurance companies requesting the rate increases. Interestingly, in its letter State Farm blames the "Mississippi legal environment" for Its actions. Of course, if State Farm had paid the claims they would not have had to face legal action. State Farm appears to be blaming the victims of their claims practices for these most recent increases in insurance costs. Further, while State Farm touts the millions of dollars in claims it paid, by my calculations the average amount paid per claim is just over $11,000.00.
