Right Street

Breaking Up North Carolina’s Auto Insurance Cartel

By | March 12, 2013

  • March 12, 2013 at 1:37 pm
    Alan Hawkins says:
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    So glad the insurance industry feels it needs more money via rate increases, while our wages decrease and stagnate. The most profitable auto insurance company in the United States in 2010 was State Farm Insurance, pulling in $1.8 billion dollars. Farmers Insurance came in at $1.686 billion and liberty mutual at $1.678 billion. Auto insurance profits total in the hundreds of millions to low billions every year. According the American Association for Justice profits for the auto insurance industry as a whole total close to $3 trillion annually. So a reasonable profit or gouging the consumer while the economy as a whole is in the toilet? (well except wall st, corporations etc). No thanks to your rate increases but since you’ve bought and paid for our NC legislators, I guess there is nothing we can do but grin and bear it or move out of this god forsaken state.

  • March 14, 2013 at 5:06 pm
    Richard Winkler says:
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    Under the current insurance system North Carolina has the 7 lowest liability insurance rates in the United States. Now that is a fact! GO to http://www.LowRatesNC.com to oppose SB154

    • April 3, 2013 at 8:14 am
      Dean Ziegler says:
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      The recoupment is not calculated into these so called “average numbers”. Whoever spouts off this myth is massaging the numbers. The recoupment, an additional surcharge that everyone pays because the Reins Facility annually doesnt price appropriately, is required to be hidden from consumers by law. If it is such a good deal why hide it from the good people of NC? Over the last 5-6 years this has amounted to $900 Million in recoupment residents have paid and not allowed to be disclosed on their bill.

  • March 19, 2013 at 10:33 am
    Jon Marshall says:
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    Looks like the cartel is working pretty well, third lowest rates in the country:
    http://www.cnbc.com/id/100564898



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