Mississippi Attorney General Jim Hood's plan to tie auto insurance underwriting to property coverage got a lukewarm response from the governor and insurance commissioner, while being universally condemned by the industry.
Mr. Hood's proposal would force a carrier writing auto insurance in the state to provide homeowners and commercial coverage if they write those policies elsewhere in the United States. He said the plan mirrored similar legislation in Florida.
In response to State Farm's recent move to stop selling new homeowners policies in Mississippi to avoid additional catastrophe exposure, Mr. Hood accused the carrier of "punishing their own insurance agents in [non-coastal areas] who are innocent of anything, and they are punishing the state of Mississippi by making an example of us, and trying to intimidate a federal judge and our legislature..."
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