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 overseeing the transfer of $19 million 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.”