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	Name:	Tallyman -
	Subject:	State Farm
	Date:	2/14/2007 2:23:36 PM

Man, those hurrican victims really socked it to State Farm. Payback will not be nice.

State Farm: No New Policies in Miss.

By MICHAEL KUNZELMAN
The Associated Press
Wednesday, February 14, 2007; 2:05 PM

-- State Farm Insurance Cos. is suspending sales of any new commercial or homeowner policies in Mississippi starting Friday, citing in part a wave of litigation it has faced since Hurricane Katrina, a company official said Wednesday.

Mike Fernandez, vice president of public affairs for State Farm, said Mississippi'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."

Fernandez said the decision does not affect existing policies (want to bet?) but the company is still assessing how many of the current policies in Mississippi will be renewed this year(That would be none near the coast).

Fernandez said the action was not a direct response to any specific development in the litigation. (Anybody believe that?) That litigation has included a recent federal jury's $2.5 million punitive damage award to a couple who sued State Farm for refusing to cover the 2005 hurricane's storm surge damage to their Biloxi home(They are going to enjoy their victory in Iowa).

U.S. District Judge L.T. Senter Jr. later reduced the award to $1 million, even though Senter said State Farm acted in a "grossly negligent way" by denying the claim filed by policyholders Norman and Genevieve Broussard.