Mississippi’s insurance commissioner says a long-awaited review of State Farm’s handling of insurance claims after Hurricane Katrina is nearly complete.
Commissioner Mike Chaney said Aug. 1 that he plans to release the department’s market-conduct exam of State Farm in late August or early September.
The Bloomington, Illinois-based insurer received a draft of the report in early July and gave the insurance department its formal response on July 28.
Chaney says he can’t disclose the exam’s conclusions yet. But he says it found “some good” and “some bad” in how State Farm handled policyholder claims after the August 2005 hurricane.
The department’s outside review of State Farm started in late 2006 under Chaney’s predecessor, George Dale.
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