Friday, March 16th, 2007 — The precise impact of insurance reform in Mississippi - approved Thursday by the Legislature - remains unknown, though legislators and Gulf Coast residents predict lower rates. House Bill 1500 allows insurers to recoup losses in major coastal disasters from policyholders across Mississippi. The state’s insurer of last resort, the Mississippi Windstorm Underwriting Association, will receive an $80 million subsidy to lower rates on coverage for wind damage.