The Hattiesburg, Miss. newspaper, The Hattiesburg American, is giving insurers a big thumbs down regarding the cancellation of numerous homeowners policies along the Gulf Coast. Despite the fact that hurricanes cost insurers over $53 billion in 2005, the paper says, insurers still turned a profit.

"The truth is, insurance companies have the financial ability to continue providing homeowner's insurance—at reasonable rates—throughout the hurricane zone."

The paper also takes issue with the Mississippi Windstorm Underwriting Association, as the state-backed group will go before the state to request a 400 percent rate increase for homeowners insured through the MWUA. (Side note: is MWUA a funny acronym or it just me?)

I'm not really sure what side of the fence I'm on with this. On the one hand, insurers need to cover their risk, which may mean cancelling policies and/or increasing rates in higher-risk areas. On the other hand, homeowners in these areas need access to proper coverage.

I hate sitting on the fence. It's mighty uncomfortable for me. Leave me your thoughts and opinions on the Hattiesburg article and see if you can't sway me one way or another.