Allstate's 44 Percent Rate Hike Rejected

By: The Associated Press
By: The Associated Press

State Insurance Commissioner Mike Chaney has rejected Allstate Property and Casualty Insurance Co.'s request for a statewide rate hike of 44 percent.

Chaney said the company failed to justify its rate request and has filed requests for high increases since Katrina in 2005, possibly as a way to price itself out of the Mississippi market.

Allstate requested the rate hike in March, after Chaney had rejected the company's request for a 65 percent increase.

Allstate spokeswoman April Eaton said the company is "disappointed" by Chaney's decision.


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