North Carolina homeowners insurance News

North Carolina Hearing on 25% Homeowners Hike Moved to October

North Carolina’s insurance commissioner has postponed until October a hearing into a request by homeowners insurance companies to raise rates by an average of 25 percent statewide. Commissioner Wayne Goodwin said the public hearing to be held in Raleigh has …

North Carolina Hearing on Homeowners Increase Set for August

North Carolina Insurance Commissioner Wayne Goodwin has scheduled a hearing on August 6 in Raleigh on the insurers’ request to raise homeowners insurance rates an average of 25.3 percent. Goodwin said the proposed rates appear to the Department of Insurance …

North Carolina Regulator Receiving Comments on 25% Home Insurance Hike

North Carolina homeowners are looking at insurance cost increases averaging 25 percent starting in August if the state’s regulator goes along, and his office heard Friday from some of those upset about the prospect of higher premiums. The hearing came …

North Carolina Rate Bureau Stands By 25.3% Home Insurance Bid

Despite urging by the state’s insurance commissioner that they withdraw their bid, North Carolina homeowners insurers are unlikely to withdraw their request for a 25.3 percent average rate hike. The data supports the requested increase, according to Ray Evans, general …

North Carolina Regulator ‘Appalled’ at Home Insurers’ Request for 25% Rate Hike

North Carolina Insurance Commissioner Wayne Goodwin has called upon insurers in his state to withdraw a request for a 25.3 percent rate hike for homeowners insurance, saying he is “appalled” they would seek a raise just six months after a …

North Carolina Residual Market Issues $500 Million in Cat Bonds; Rate Hikes Go Into Effect

North Carolina’s two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following hurricanes and other named storms. The North Carolina Joint Underwriting Association …

North Carolina Approves 7% Home Insurance Rate Increase

North Carolina’s top state insurance regulator has signed an agreement allowing companies to raise homeowner’s insurance policies by a statewide average of 7 percent a year starting in July. Insurance Commissioner Wayne Goodwin agreed to a rate increase for less …

Exclusive Interview: North Carolina Commissioner Goodwin on Home, Auto Markets

Recently re-elected North Carolina Insurance Commissioner Wayne Goodwin is more focused on reform of the state’s homeowners insurance market than he is on auto insurance. As was the case four years ago when he first assumed office, Goodwin sees the …

North Carolina Regulator Calls for Hearing, Delay on Home Insurance Rates

Two weeks ahead of an election deciding whether he keeps his job, North Carolina’s insurance commissioner told companies they’ll have to prove they should be allowed to increase homeowner’s premiums by a statewide average of 17.7 percent. The move by …

North Carolina Property Insurance Reform Law Comes Up Short

North Carolina’s property market problems are well known but thus far answers remain elusive even after lawmakers approved a bill that does little more than what one industry expert said, “just stuck more fingers in the dike.” Despite having what …