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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (326993)2/22/2007 12:41:06 PM
From: TimF  Read Replies (1) of 1575980
 
"First, Mississippi regulated flood insurance rates down to a level that it was impossible to make money, so State Farm's property coverage on the coast did not cover flood/storm damage. Then, after Katrina, Dickie Scruggs and company sued State Farm, and others, forcing them to cover storm damage from Katrina that their policies explicitly did not cover and were not priced to cover. So, facing a state government that, by fiat, forces their fees lower and their coverage higher, State Farm is trying to exit the property insurance business in Mississippi, and the state legislature is considering legislation to prevent them from leaving..."

coyoteblog.com
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