Chaney optimistic on coast insurance

The Democrat Editorial, 6/17/8

It is no surprise that State Farm, Mississippi’s largest insurer, has announced that it will no longer write policies for homes within 1,000 feet of the Mississippi Gulf Coast.

In a letter to Mississippi Insurance Commissioner Mike Chaney, State farm said, “As you are aware, State Farm continues to have serious concerns about the legal environment in Mississippi and its impact on the Mississippi property insurance market.”

The letter noted that Mississippi Attorney General Jim Hood “filed a civil suit less than 20 days after Hurricane Katrina struck.”