Miss. candidates vie to fill 32-year veteran Dale’s shoes

Whatever the final outcome, this year’s race for Mississippi insurance commissioner will result in a new face in office after an unprecedented 32-year run by current officeholder, George Dale.

In the primary elections in August, Mike Chaney, Republican candidate, trounced his opponent 79 percent to 21 percent while Democrat Gary Anderson squeaked by with 51 percent, dethroning longtime incumbent Dale, who ran on the Independent ticket in the Democrat primary.

The general election will be held on Nov. 6.

Republican candidate Chaney has roots in small business and has been a state legislator for a number of years. He chaired the Senate Education Committee for the past four years. He has called the office of insurance commissioner the most significant office in state government, as it directly affects all other aspects of economic operations and public safety.

A Vietnam veteran helicopter pilot, Chaney uses the analogy of the cotter key or “Jesus nut” that holds the blades onto an aircraft to describe the role of insurance commissioner. “If that ‘Jesus nut’ comes off during flight, you’re going to see Jesus,” he says.

While he has a 24-point plan that he says he will implement if he is elected in November, he listed increased competition and enforcement of building codes as two main issues that he thinks would ease or eliminate rate hikes.

Chaney advocates a policyholder protection plan where the customer would be required to initial the insurance policy, signifying acknowledgement of no flood loss coverage. “The policies need to be written in plain language that everyone can understand so there will be no confusion,” he said.

Chaney supports the concept of a “common adjuster” to help alleviate confusion after catastrophes. In his scenario, the company with the highest financial stake would adjust losses for all parties.

Chaney has endorsed U.S. Rep. Gene Taylor’s, R-Miss., Multiple Peril Insurance Act, which allows property owners to purchase wind and flood coverage in a single policy. “I continue to believe that the multi-peril insurance proposal now before Congress is the best hope of providing relief to homeowners and small business owners on the Gulf Coast,” Chaney said.

At the 2007 Neshoba County Fair, Chaney said the 50,000 homes lost during Hurricane Katrina “could probably be rebuilt if homeowners could find available and affordable insurance.”

Democrat Anderson began his career assisting state and local governments with economic and community development. He has worked in the administrations of five Mississippi governors, primarily on fiscal policy and economic development.

A self-proclaimed fiscal conservative, Anderson served as chief fiscal officer for Gov. Ronnie Musgrove. He was the first African-American to be director of the Mississippi Department of Community Development. Most recently, he has worked as an independent consultant.

Drawing on his experience in finance and economic development, Anderson said if elected he will “work to facilitate the needed changes with all who have a stake in the redevelopment of the Mississippi Gulf Coast.” He said development has been slowed because of unresolved insurance claims.

Anderson says thinks the insurance department must maintain its independence. “Increasing competition and lowering insurance premiums can only happen when an insurance commissioner is independent,” he has said.

He has pledged not to accept any contributions from insurance companies or their executives.

He has stressed the need for full disclosure in insurance. “I will implement fair, consumer-friendly industry practices while stamping out hidden, vague or misleading clauses in insurance policies that often result in confusion,” he vowed.

Anderson promises to make the fight against insurance fraud a priority. He says he will create an investigation unit solely responsible for cracking down on crime. He has vowed to create clear lines of division between the industry and the office that regulates it and eliminate opportunities for collusion.

Topics Mississippi