Chaney Discourages Coast-Only Rate Hikes

By: The Associated Press
By: The Associated Press

A state regulator says insurers are being discouraged from asking for higher rates targeted at a specific region of Mississippi, such as the Gulf Coast.

Insurance Commissioner Mike Chaney says he will require that insurance companies initially file requests for rate increases that would apply statewide.

Chaney says this is a departure from a longtime state Insurance Department practice of allowing companies to request higher rates only in south Mississippi.

Chaney, in an interview Wednesday with The Sun Herald newspaper, says past rate increases have driven rates high enough in south Mississippi for now.

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