Mississippi’s Chaney to Seek Re-election

Mississippi Insurance Commissioner Mike Chaney has officially announced his intention to seek a second term.

Chaney was first elected to office in November 2007 when he beat Democrat Gary Anderson by taking 57 percent of the vote. Chaney succeeded long-time commissioner, George Dale.

Prior to his election, Chaney, a Republican, served seven years in Mississippi’s House of Representative, followed by an eight year stint in the state Senate. He was a key member of the Senate Insurance Committee that enacted a major windstorm reform bill in 2007.

Gearing up for the coming campaign Chaney highlighted a number of accomplishments including managing the transfer of millions of funds into the state’s wind pool to stabilize rates for Gulf Coast homeowners. He also noted that the state had recovered $9.3 million from companies that overcharged policyholders premiums, which were returned to the policyholders. He also changed state regulations so that agents could now receive two-year licenses. Still, Chaney said there is much to be done.

“Since I took office I have made my top priority efforts to ensure that our state’s residents to available, affordable and accountable insurance,” said Chaney. “Right now availability is not a problem in our state, but affordability continues to be an issue.”