Mississippi Insurance Commissioner Mike Chaney Re-Elected By 62 Percent Vote
Nov 9, 2011
Above: Mississippi Insurance Commissioner Mike Chaney
Mississippi Insurance Commissioner Mike Chaney won re-election to his office with more than 60 percent of the vote yesterday, November 8, 2011.
News coverage of the election from PropertyCasualty360 is reprinted below.
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National Underwriter Online News Service; Published November 9, 2011
Mississippi Insurance Commissioner Mike Chaney has won re-election with more than 60 percent of the vote.
Chaney, a Republican, defeated Democrat challenger Louis Fondren and Barbara Washer of the Reform Party after voting Nov. 8 in Mississipi.
About 62% of votes cast went to Chaney, according to the latest tally.
Chaney was first elected to the post in 2007, after serving seven years in the state House of Representatives and eight years in the state Senate.
Since taking office, Chaney is credited with starting a wind mitigation program for the Gulf Coast, and he worked to attract more than 100 new companies to Mississippi.
Most recently, Chaney sparred with Allstate over homeowners’ insurance rate hikes. Chaney denied the insurer’s requests for 65 percent and 44 percent average increases before settling on a 19.4 percent increase.
Under Chaney, the Mississippi Insurance Department conducted a 22-month investigation of State Farm‘s action following Hurricane Katrina in 2005.
Though the insurer made some mistakes, the report concluded State farm did not intentionally mistreat policyholder after the storm.
The commissioner serves as the chairman of the National Association of Insurance Commissioners’ Property and Casualty “C” Committee.
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