When Mike Chaney assumed the position of insurance commissioner four years ago, he said his main goals were to ensure predictability and stability in the insurance market for underwriters and lower rates for customers.
Chaney, 67, of Vicksburg, a Republican who faces Democrat Louis Fondren of Pascagoula, has been successful in the predictability department. But the ill-effects of Hurricane Katrina and new disasters have made rates a challenge.
Chaney has been dogged in his pursuit of lower rates. But floods and tornadoes have thrown up barriers. He has managed to lure 140 new companies to write property and casualty insurance and returned $10.5 million to the policyholders from overcharges.