LONG BEACH, MS (WLOX) - Before a room filled with state legislators and community leaders, Governor Phil Bryant signed the insurance clarity bill into law Tuesday in Long Beach.
That measure will require insurance companies to report, by zip code, money they collect in premiums and losses paid out. Supporters say it's a "baby step" toward addressing the issue of sky high insurance rates, especially along the immediate coast.
Long Beach Alderman Leonard Carrubba is part of a citizens committee that worked for passage of the bill. He said there's obviously a big problem when insurance bills are as large as mortgage notes.
Long Beach Mayor Billy Skellie said insurance costs have definitely been an obstacle to both home and business owners rebuilding since Katrina ten years ago.