Insurance groups are hoping the State Farm class action agreement to settle hurricane damage claims for hundreds of Mississippians will put an end to anti-insurance rhetoric along the Gulf Coast.
“This settlement is a forward moving event that's in the best interests of State Farm's policyholders and rebuilding the Gulf,” said Nancy Grover, a spokesperson for the National Association of Mutual Insurance Companies, adding, “it doesn't further these efforts to engage in political posturing at this time.”
Mississippi Attorney General Jim Hood, who took part in negotiating a settlement that included plaintiffs' attorneys, said he thought the settlement came about because a Democratic Congress had been elected, and he expects Congress to pass a National Insurance Reform Bill.
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