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Article Excerpt
There are plenty of places to put the blame - declines in the stock market, the impact from Sept. 11, litigation concerns and Mississippi being more disaster prone than a lot of other states. But the bottom line is homeowners 'insurance availability in Mississippi has become increasingly difficult to get this year with some major carriers no longer writing new homeowners' policies in the state.
State Farm, the state's largest carrier of home insurance with about 30% of the market, has stopped writing new homeowners' policies in the state but continues to write homeowners' policies for existing customers.
"This form of managed growth allows current State Farm customers who move to Mississippi to continue their coverage, and allows customers residing in Mississippi to remain with State Farm should they move or acquire another property," said State Farm spokesperson Tyrus Sturgis. "Our focus remains on providing the best customer service for policyholders should the unexpected occur. Our leadership continuously monitors claims data and trends to ensure State Farm is prepared to keep our promise of protection to our customers. Being prepared includes having claim representatives readily available in the event of a loss, providing prompt, courteous service and maintaining the company's financial strength."
Another large carrier in the state, Allstate, is not writing any new fire policies or comprehensive personal liability policies.
"As you know, the availability of homeowners' insurance in Mississippi and throughout the country continues to be a challenge--not just for Allstate, but for the entire insurance industry," said April Eaton Robinson, communications manager for Allstate corporate relations in the Southeast. "As a company, we...
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