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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  • by Anonymous on Sep 21, 2010 at 10:24 AM
    well it will come to the point all the insurance company's will leave the sate.. the same that happened in N.J. years ago.. the laws need to be changed.. on alot of areas.. like Va. 1% law that not only brought down car insurance rates but stopped the fraud big time.. Ie. you pull out of a drive and you are hit. as it stands now you are at fault doesnt matter the other guy was doing 60 in a 30.. in VA yes youare at fault but the other is also held and can be charged for speeding that caused or impeded your ability to drive safely
  • by Anonymous on Sep 21, 2010 at 10:03 AM
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