A mediation program for homeowners battling insurance companies in the wake of Hurricane Katrina will be unveiled Wednesday by George Dale, Mississippi Insurance Commissioner.
The insurance commission’s staff has researched Florida’s program for months, and a department spokesperson told the Jackson Clarion-Ledger that it hopes to implement a similar program in Mississippi.
Residents in south Mississippi have complained that insurance payments are too small and that flood damage is not covered. Homeowners are surprised their coverage did not include flooding, though insurance companies excluded high-water damage in policies.
Some homeowners, including Sen. Trent Lott, are suing their insurers for coverage. Dale has said he hopes this program limits the number of lawsuits.
Under the Florida program, a consumer files a complaint, and the policyholder and insurance company have 21 days to strike a deal. If they do not agree within that time frame, the parties then meet with a mediator to settle.
Topics Florida Mississippi
Was this article valuable?
Here are more articles you may enjoy.
Lloyd’s of London Says Former CEO Neal Breached Compliance Rules 
Chubb Q2 Net Income Down 3.8% on ‘Overly Soft’ Large Account, E&S Property 
Insurer Interest in AI Exclusions Growing as Risk Becomes Omnipresent 
Insurers Must Defend Hotels Accused of Sex Trafficking of Minors 
