NU Online News Service, Sept. 27, 11:24 a.m. EDT

Recently, Mississippi Insurance Commissioner Mike Chaney said a rate request from Allstate for a 44 percent average statewide increase in homeowners insurance was not justified by actuaries.

Allstate said it found Mr. Chaney’s comment perplexing, considering the fact that an actuarial report Allstate said was commissioned by the Mississippi Insurance Department (MID) found that the 44 percent hike was appropriate to reflect the company’s increase in non-hurricane and non-wind-related claims and claim costs.

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