Should the solvency of Kingsway Financial Services matter to Mississippians? Don’t count on Mr Chaney for the answer.

I’ll admit it, until I was tipped I had no idea who Kingsway Financial Services was or whether they were doing business in Mississippi. Then again I am a hard hat CPA so that should be expected. But what about our DOI?

Curious, I began to google and before long I tuned up one of Kingsway’s subsidaries that did business in Mississippi in Southern United Fire Insurance Company based out of Mobile. Giving credit where it is due the folks at Southern United give a link to their AM Best rating on the front page of their web portal. It is not good by the way.

So my next stop was what should have been the first stop but I knew better than that. You see, at the Mississippi Department of Insurance seldom is heard a discouraging word about insurers whether solvent or not. For better or worse our state regulator Mike Chaney is asleep at the switch when it comes to these things.

As an independent agent that is not asleep at the switch told me today, insure with Southern United if you want the cheapest rate, just don’t count on them being around in 6 months to pay your claim. ‘Nuff said.

sop

One thought on “Should the solvency of Kingsway Financial Services matter to Mississippians? Don’t count on Mr Chaney for the answer.”

  1. I’d like to know if Cheney is sending out a fraud advisory to Mississippi based charities to be on the look out for this scam? I would hate for one of our charities reputations tarnished by this game of corporate bag holding. If they do this in Mississippi we should let them know we are not Penn who has this as their Hersey Highway—

    http://www.hersheypa.com/

    This is the gate to our Hershey Highway boys and we got plenty of room for those who damage our state charities good reputations.

    http://hellsothergate.com/

    PS: I think everyone knows a charities good name is all they have to use to raise money, nobody donates to charities who are involved in scandles.

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