Mike Chaney, Republican nominee for Commissioner of Insurance, continued to take his message of affordable, available insurance accountable to the policyholder to the people of Mississippi last week.
On Wednesday, November 11th, in what was supposed to be a debate with Gary Anderson, Chaney had the floor to himself speaking to the Northeast Mississippi chapter of the National Association of Health Underwriters in Tupelo. Skip Johnson, the group’s president, reported that the Anderson campaign told the organization Monday that their candidate would not participate.
“Health insurance is the big elephant in the room that people are refusing to look at,” said Chaney. “While property insurance rates are a big challenge for us right now on the Coast, health insurance is an even bigger problem we’re going to face statewide,” he said. “It’s coming – if it’s not here already. Health insurance rates are rising so fast that many middle-income families and small businesses can no longer afford it.”
Chaney stressed that he did not agree with Democratic presidential candidate Hillary Clinton’s proposed health care plan and that he’s “not happy with any of the Democrats’ plans.”
“There is no quick fix,” said Chaney. “It’s going to take a competent leadership from government and industry working together to come up with a solution to the rising cost of health care and health insurance.”
On Thursday, October 12th, Chaney spoke at a forum hosted by the Jackson Association of Insurance and Financial Advisors in Jackson. Once again, he had the mic to himself as Anderson was invited but declined to participate.
“Providing more insurance options to the consumer along with strict regulation will reduce the cost of property insurance,” said Chaney. “Forcing current carriers out of Mississippi is not the answer – it’s a big step in the wrong direction. We need to be attracting additional carriers into our market. More competition means lower rates.”
“Since Hurricane Katrina, State Farm has cut rates by 5% to 10% in many Western and Midwestern states. Farmers Insurance has reduced rates in 12 states including Ohio and South Dakota. USAA has cut rates in 15 states. Some cities like Phoenix and Dallas got premium cuts of 17% to 24%,” said Chaney. “By cutting rates in certain parts of the country while sticking it to policyholders in Mississippi, insurers are undermining the essential premise of shared risk.”
“Stabilizing the market is going to take competition, strict regulation and Congress needs to pass Congressman Gene Taylor’s multiple peril insurance plan,” said Chaney. “HR 3121 is actuarially sound and will put an end to the debate of wind verses water damage – because people whose lives have been devastated by a hurricane shouldn’t have to hire a lawyer and an engineer to get back on their feet again.”
Mike Chaney Press Release
10/16/7
Magnolia Tribune
