This past September SLABBED reported the Commissioner kept his promise when he denied Allstate’s request for a 44% rate increase this past September. The Sun Herald is now reporting, Allstate Seeks Hearing on Rate Increase Denial:
Allstate Property and Casualty Insurance Co.’s has requested a hearing on the denial of its 44 percent rate increase for Mississippi customers. Insurance Commissioner Mike Chaney tells The Sun Herald that he plans to schedule the hearing for some time in January. The Mississippi Insurance Department concluded in September the increase was unjustified, but Allstate argues it is warranted.
The commissioner usually hears appeals. Allstate has asked that Chaney appoint someone else because he already has stated he will not approve the increase without a court order. Allstate requested the rate hike in March, after Chaney had rejected the company’s request for a 65 percent increase. (emphasis added)
Posted by: bubba Location: in the insurance po houseFor most people that has insurance, they are paying more and more and getting less and less. I will say that all the insurance I pay out per month is around $800.00 and I have not had to file on any of them. If I should have to file I am in fear of receiving a phone call saying that my policy has been canceled because I used the insurance. I also had to get hig deductibles so I could afford the insurance. GIVE A RATE INCREASE IN THIS DAY AND TIME????????? Heck how bout everyone drop the insurance and then see where the company is at then.