State Farm spokesman David Majors told The Clarion-Ledger that details are still being worked out for a rate hike request.
Last year, State Farm boosted rates by an average of 19.5 percent in Mississippi's three coastal counties: Harrison, Hancock and Jackson. The company was seeking a 45 percent increase.
Chaney said he won't approve it or any other proposed rate hikes until at least a year after a company's last increase took effect and won't approve any hikes during hurricane season, which runs June 1 through Nov. 30.
Chaney said he will look over whatever State Farm requests to see if it is reasonable.