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Not Without A Court Order: Miss. Denies Allstate Rate Increase

Mississippi Insurance Commissioner Mike Chaney said he will not approve Allstate's proposed 44 percent average statewide homeowners rate increase without a court order.

By Chad Hemenway | Updated on September 20, 2010

NU Online News Service, Sept. 21, 3:15 p.m. EDT

Mississippi Insurance Commissioner Mike Chaney said he will not approve Allstate’s proposed 44 percent average statewide homeowners rate increase without a court order.

The commissioner said he has denied the insurer’s filing to increase rates, which he has been reviewing since March. It is the second time he has denied the insurer’s attempt to raise rates. Allstate originally asked for a 65 percent average statewide increase and was turned away by Mr. Chaney.

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