It sounds like Mississippi Farm Bureau is having problems in the wake of
Katrina, according to IJ
Jackson-based Mississippi Farm Bureau Mutual Insurance has
announced that the strain of paying $450 million in claims after Hurricane
Katrina has caused the company to cease writing policies in the state and
transfer current policies to the Southern Farm Bureau Casualty Co.[...]The Farm Bureau owns both mutual insurance and casualty insurance
companies. The difference between the two is in financial structure.Mississippi Farm Bureau Mutual, founded in 1952, was owned by
policyholders, while the Southern Farm Bureau Casualty Insurance, founded in
1987, is privately held.
While it frequently warms the heart to see a home-town (or home-state, in
this case) do good, when property insurance is involved, geographic
diversification is necessary for survival in the event of a major
catastrophe.