Insurance commissioners in Mississippi and Louisiana warn thatbuyers of property insurance will have a difficult time for now,but how quickly the market improves depends literally on how thewind blows.
Mississippi Insurance Commissioner George Dale said insurerswriting property business have not made money for awhile.
No insurers said they plan to pull out, he noted, but carriersare complaining about the state's wind pool assessments to covergaping losses. The pool bought $75 million in reinsurance, he said,but paid out over $700 million in claims.
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