Here’s Anita Lee on top of another breaking insurance story – this one about State Farm’s decision to back off the water and blow off wind coverage, too.
State Farm Fire & Casualty Co. has decided not to renew property insurance policies for Coast residents who live within 1,000 feet of the Mississippi Sound.
Also, wind coverage will no longer be included in homeowner’s policies for existing customers who are 1,000 feet to 2,500 feet from the water.
State Farm would not confirm the decision Wednesday afternoon. Public officials informed of the news by Mississippi Insurance Commissioner Mike Chaney confirmed to the Sun Herald that the company was State Farm.
Moves like this are a reminder of the days when W.L. Jaquith ruled mental health in Mississippi. Any time Jake couldn’t get what he wanted at the Capitol, he’d start calling families to come pick up patients and boy would they ever kick up a fuss – and, if calls didn’t kick it up enough, he put a few on the bus.
This is Chaney’s biggest test yet; but, you’ve got to hand it to him, the man knows how Continue reading “State Farm backs off water, blows off wind – call it a Jaquith move”