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State Farm: No New Underwriting in Mississippi



Yahoo! News reports that State Farm no longer trusts Mississippi's legal system to enforce its contracts. The state's "current legal and political environment is simply untenable. We're just not in a position to accept any additional risk in this homeowners' market," said public affairs VP Mike Fernandez.

The damage this time was caused by federal courts, as readers of this e-zine know very well. One might think that State Farm's decision will exacerbate hostility toward the company -- I imagine some interesting simulations were undertaken before this decision was reached.

 

 


Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.