Insurance Commissioner Comes To Coast - WLOX.com - The News for South Mississippi

Insurance Commissioner Comes To Coast

By Krystal Allan - bio | email

BILOXI, MS (WLOX) - Getting people in homes is what they do best, but coast realtors say no matter how good the deal, it doesn't matter if people can't afford the insurance. 

"Affordable housing is only affordable if you can only pay for everything. Everybody has to be involved and everybody has to work together. This is an equal opportunity problem," said Cynthia Joachim with Century 21.  

The most pressing issue on the agenda is re-authorizing the National Flood Insurance Program.  It will expire at the end of the month.  Russell Riggs, a policy expert from the National Association of Realtors, said re-authorizing the program is something everyone must be committed to seeing through.

"It's going to take people yelling at their congressman. Imagine if there was no National Flood Insurance Program. No one would be able to obtain flood insurance, there would be no maps available. So as a result, all real estate transactions would essentially stop," Riggs said.

Reforms to the NFIP are also on the table, one of which is the wind coverage provision under Gene Taylor's multi-perils insurance plan. During the meeting, State Insurance Commissioner Mike Chaney announced a new proposal some insurance companies are considering.

"We're in discussions with several major companies about providing credit on your homeowners premium, as much as 50 percent, if people retrofit their homes to make them wind resistant," says Chaney.

Homeowners could see premiums drop by half if they take steps to make their home wind and hazard resistant.  The commissioner says he plans to announce participating companies in the next couple of months.

  • NEWSMore>>

  • breaking

    'Home Alone' dad John Heard dies at 72

    'Home Alone' dad John Heard dies at 72

    Saturday, July 22 2017 10:26 AM EDT2017-07-22 14:26:16 GMT
    Saturday, July 22 2017 10:40 AM EDT2017-07-22 14:40:37 GMT

    John Heard appeared in numerous movies and television shows throughout a lengthy acting career, but it was his role as the father of Macauley Culkin's character in two "Home Alone" films that gained him notoriety.

    More >>

    John Heard appeared in numerous movies and television shows throughout a lengthy acting career, but it was his role as the father of Macauley Culkin's character in two "Home Alone" films that gained him notoriety.

    More >>
  • All lanes of I-110 now open following multiple wrecks

    All lanes of I-110 now open following multiple wrecks

    Saturday, July 22 2017 9:23 AM EDT2017-07-22 13:23:41 GMT
    (Photo: file)(Photo: file)

    All lanes of the I-110 bridge are back open after two crashes early Saturday morning. 

    More >>

    All lanes of the I-110 bridge are back open after two crashes early Saturday morning. 

    More >>
  • RW hopes this site approval request makes a splash

    RW hopes this site approval request makes a splash

    Saturday, July 22 2017 9:06 AM EDT2017-07-22 13:06:31 GMT
    file photofile photo

    Will the phrase water's edge turn the tide for RW Development? The answer comes this Thursday. RW is on the July 27 gaming commission agenda. The company has asked for site approval before. Yet both times, the Mississippi Gaming Commission said no. This Thursday, attorneys for the casino developer return to Jackson ready to roll the dice and get gaming commissioners to say yes to their site. The focal point of their presentation will concentrate on two words - water's edge.

    More >>

    Will the phrase water's edge turn the tide for RW Development? The answer comes this Thursday. RW is on the July 27 gaming commission agenda. The company has asked for site approval before. Yet both times, the Mississippi Gaming Commission said no. This Thursday, attorneys for the casino developer return to Jackson ready to roll the dice and get gaming commissioners to say yes to their site. The focal point of their presentation will concentrate on two words - water's edge.

    More >>
  • Trending StoriesTrending StoriesMore>>

  • breaking

    'Home Alone' dad John Heard dies at 72

    'Home Alone' dad John Heard dies at 72

    Saturday, July 22 2017 10:26 AM EDT2017-07-22 14:26:16 GMT
    Saturday, July 22 2017 10:40 AM EDT2017-07-22 14:40:37 GMT

    John Heard appeared in numerous movies and television shows throughout a lengthy acting career, but it was his role as the father of Macauley Culkin's character in two "Home Alone" films that gained him notoriety.

    More >>

    John Heard appeared in numerous movies and television shows throughout a lengthy acting career, but it was his role as the father of Macauley Culkin's character in two "Home Alone" films that gained him notoriety.

    More >>
  • GRAPHIC VIDEO: Teens mock drowning man

    GRAPHIC VIDEO: Teens mock drowning man

    Thursday, July 20 2017 9:14 PM EDT2017-07-21 01:14:47 GMT
    Thursday, July 20 2017 9:39 PM EDT2017-07-21 01:39:28 GMT

    Police say no laws were violated by five teens who made a video of a drowning man and posted it to social media. 

    More >>

    Police say no laws were violated by five teens who made a video of a drowning man and posted it to social media. 

    More >>
  • Man admits he 'flung' infant son, causing his death

    Man admits he 'flung' infant son, causing his death

    Friday, July 21 2017 6:33 AM EDT2017-07-21 10:33:52 GMT
    Cody Bates (Source: LMDC)Cody Bates (Source: LMDC)

    Police responded to a call of an unresponsive three-month-old child on June 9 in an apartment complex in Fern Creek. Officials interviewed multiple people to find out how exactly Preston Amato died.

    More >>

    Police responded to a call of an unresponsive three-month-old child on June 9 in an apartment complex in Fern Creek. Officials interviewed multiple people to find out how exactly Preston Amato died.

    More >>
Powered by Frankly