The big dog is picking up its marbles and going home, according to this press release:
Citing uncertainties in the Mississippi legal and business environments, State Farm Senior Vice President Bob Trippel yesterday advised Mississippi’s Commissioner of Insurance George Dale that State Farm Fire and Casualty Company will suspend writing new homeowners and commercial property insurance in the state of Mississippi.[...]
The company stated that criticisms about how it handled Hurricane
Katrina claims have complicated matters. The company is concerned that
provisions in its insurance policies are being reinterpreted after the fact
to provide for coverages that were not contemplated when the policies were
written.
The last I heard, State Farm was still writing in Louisiana, albeit away from the coast. But then again, State Farm wasn’t hit with a directed verdict against it in Louisiana.
[...] Farm Bureau Bites the Dust…sortaState Farm Stops Accepting Property Business in MississippiState Farm Quits Wind in MississippiState Farm Settlement DeniedState Farm Loses Bid to Move Katrina [...]
If State Farm doesn’t insure Homes they shouldn’t be allowed to sell Car insurance either.