Mississippi Commissioner of Insurance Mike Chaney encourages all persons purchasing insurance to be informed through education.
“Changes in the insurance industry are happening daily, and anyone considering purchasing insurance in Mississippi needs as much information as possible in order to make an informed decision before they purchase a policy,” Chaney said. “Keeping the consumer informed is one of the biggest challenges facing insurance professionals in the state.
The Mississippi Insurance Department works alongside agents in the state to provide consumers with the most current information available.”
Since the Mississippi Insurance Department regulates all insurance types in Mississippi, it faces difficulties with property and casualty insurance and healthcare insurance.
One of the biggest issues revolving around property and casualty insurance is the uncertainty surrounding the reauthorization of the National Flood Insurance Program and the reform of the program to allow for more competition from the private market, according to the Mississippi Insurance Department.
“We are also closely watching the factors driving the cost of auto insurance —frequency from distracted driving, texting and driving, and the rising cost of auto collision repairs,” a statement from the department said. “Fire safety and fire safety education will always remain high priorities for us in helping to control fire deaths in the state.”
MS Business Journal