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South Mississippi Living 4/07

Wednesday, October 10, 2007

Chaney Pockets Industry Money By Thousands According to Financial Disclosure Report

Jackson, Mississippi – Insurance Commissioner Candidate Mike Chaney has taken over $44,000 in insurance industry money since July 29th according to his October 1oth financial disclosure . Chaney, who first said he would not take insurance money, later changed his mind, saying he would only take money from individual insurance agents. Now his report shows thousands collected from insurance company executives, insurance PACS, agents and insurance companies.

“I have not taken a single dime from insurance companies or insurance special interests. Mr. Chaney cannot protect the pocketbooks of the insurance ratepayers if he is taking money from insurance interests. Taking money from an industry you would be responsible to regulate is a direct conflict. I call on Chaney to return every dime and come clean with the people of Mississippi,” said Anderson.

Mike Chaney has a history of taking insurance company money and then voting against the consumer. As a member of the Senate Insurance Committee, he has been wined and dined by insurance industry lobbyists and then voted against insurance rate rollbacks, for increased auto insurance premiums and for an insurance company tax credit. Chaney Fact Sheet Link

“My independence from insurance is the main difference between my opponent and I. Mike Chaney is beholden to the insurance industry. What we see reflected in this financial disclosure is more of what we can expect from him, just check his record. It is clear Chaney is in the back pocket of big insurance and will rubber stamp big rate increases just like Dale did. Chaney has been bought for a price,” stated Anderson.


• Insurance Company Contributions

Chaney has taken over $16,000 from insurance companies like Fulton Insurance, Bills Insurance Agency, Southern Vanguard Insurance, Republic Underwriters Insurance Company, REP Fire & Casualty, Southern Insurance Company, Family Insurance Agency Incorporated, FCCI Services Incorporated, FCCI Insurance Group, Imperial Fire and Casualty, Underwriters Group Incorporated, Starmount Insurance Company, Oxford Insurance Agency, and Fowler Adjustment Company.

• Insurance Company PACS

Insurance Political Action Committees work to coordinate and facilitate legislative and regulatory agendas; they have given Chaney about $2,000. Insurance PACS which have given to Chaney include National Association of Mutual Insurance Companies, Independent Insurance Agents PAC and Professional Insurance Agents of Mississippi PAC.

• Insurance Company Executives

Chaney took nearly $7,000 from insurance company executives. These include Ronald Tubertini, CEO of South Group Insurance Services, Donna Halford, CEO of Halford Insurance Agency Incorporated, Thomas Quaka, CEO of Mississippi Insurance Managers and Brierfield Insurance Company.

• Misleading Reporting

Mike Chaney has reported Andrea Bennett's occupation as “individual” when she is currently the President & CEO of Bennett & Co., a consulting practice which specializes in all lines of insurance. Another example of Chaney's failure to openly disclose sources of campaign contributions is Kenneth Shearer, a contributor listed in Chaney's disclosure as “individual” who is the CEO of Brickell Insurance Company. Both Bennett and Shearer gave Chaney $1,000. Thousands of dollars in insurance money are hidden throughout Chaney's report.

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