Commissioner of Insurance George Dale announced Monday that he has approved two rate reduction requests filed by Mississippi Farm Bureau Casualty Co.
Through its Homeowner Program, the company will institute a 3 percent premium reduction. A Dwelling Program will see an up to 4.3 percent reduction in premiums.
Both premium reductions go into effect Nov. 1. The new reductions will carry some restrictions in the six coastal counties; however, the company will continue to allow wind coverage to be added to businesses in George and Stone counties if certain underwriting criteria are met.
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