Mississippi agency offers advice concerning homeowners insurance following recent storms

flood homeowners insurance rates

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…

Read More

Piecemeal insurance plan is costing Mississippi state employees

Health Insurance Mississippi

The method of coverage used for those workers has fragmented contracts that are more expensive. According to a recent report by The Clarion-Ledger in Mississippi, if all state employees were to receive supplemental coverage on their insurance plans, they would likely receive better benefits while paying less for them. At the moment, the contracts for insurance coverage are spread out among over 100 state agencies and school districts. At the moment, the state doesn’t require competitive bidding to occur for insurance plans, nor are proposals for the best price or…

Read More

Mississippi has a contingency plan in case health insurance subsidies are struck down

Mississippi health Insurance

State moves to secure health insurance coverage for residents pending Supreme Court ruling The majority of consumers in the United States receive subsidies from the federal government that helps cover the cost of health insurance coverage purchased through exchanges. These subsidies are being threatened, however, by a potential ruling from the Supreme Court. The issue involves whether or not it is legal for the federal government to provide subsidies through exchanges that it operates. Per the Affordable Care Act, these subsidies are primarily available through state-run exchanges. Mississippi has proposed…

Read More

Insurance industry clarity bill signed into law in Mississippi

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…

Read More

New legislation brings more clarity to property insurance

wind property Insurance news

Mississippi legislation aims to bring more clarity to the property insurance sector Mississippi lawmakers are attempting to bring more clarity to the property insurance space. A new legislation, which has won support from the House of Representatives, is set to appear before the state’s Senate. The legislation is designed to bring more transparency to homeowners insurance and provide clarity on the premiums that insurance companies collect. Called the Property Insurance Clarity Act, the legislation is gaining strong support. Last year, a previous version of the legislation was struck down by…

Read More

Louisiana seeks to provide homeowners insurance policyholders with options concerning hurricane deductibles

Louisiana homeowners insurance news

State Farm’s hurricane deductibles spur request from state’s Insurance Commissioner State Farm has announced that it has begun reviewing a request from Louisiana Insurance Commissioner Jim Donleon regarding homeowners insurance. The Commissioner has issued a request to the insurer concerning the offering of a second deductible option for hurricanes. Commissioner Donelon notes that hurricane deductibles have become common in coastal states, where hurricanes are somewhat frequent. State Farm recently introduced a 5% deductible for its homeowners insurance policies in Louisiana. Deductible has attracted controversy from homeowners The deductible is meant…

Read More

Florida may become home for private flood insurance

Marco Island Florida Flood Insurance

Florida lawmakers seek to open up the market to private insurers Flood insurance rates may remain stable in the U.S. for a time as federal lawmakers begin investigating ways to reform the federal program that provides flood protection, but many homeowners are still concerned about the financial impact of flood coverage and the federal program’s ability to actually honor the policies it represents. The National Flood Insurance Program is currently crippled by massive debt. While the program has been able to pay claims thanks to the support of emergency spending…

Read More