Mike Chaney opposes State Farm’s 45% rate increase
The message is a strong one from State Insurance Commissioner Mike Chaney.
“I will not approve the increase they have submitted to us unless I have a court order to do so,” says Chaney.
State Farm is pushing for a rate increase on average of 45% in the three coastal counties. David Majors, a spokesman for the company, said the increase is necessary.
“We had to act responsibly and ensure that we have the resources to pay for future loses,” says Majors.
But, Chaney says it’s not fair to homeowners. The company is pushing to raise rates but is unwilling to write new policies on the coast.
WLOX
8/9/9
About the Author(s)
Magnolia Tribune
This article was produced by Magnolia Tribune staff.
More Like This
More From This Author
Previous Story
Next Story
DC
|
Lisa Mascaro, Associated Press
, Mary Clare Jalonick, Associated Press
, Joey Cappelletti, Associated Press
•
October 8, 2025
Federal government shutdown grinds into a second week, but quiet talks emerging
Democrats want the increased federal subsidies for the Affordable Care Act, which boosted the enrollment to a record 24 million people, extended.
