North Carolina Rate Bureau News

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 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 …

Deal Reached on Change to N.C. Workers’ Comp Law

Legislators say they don’t expect any obstacles when they consider a bill allowing workers to make sure their employers carry workers’ compensation insurance on them. The News & Observer of Raleigh reported officials from three interested groups agreed to undo …

North Carolina Approves 13.2% Dwelling Fire, Extended Coverage Rate Hike

North Carolina Insurance Commissioner Wayne Goodwin and insurance companies have come to an agreement that allows for a statewide average increase of 13.2 percent for dwelling fire and extended coverage policies, spread over a three-year period. Insurers, represented by 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 Insurers Seek 17.7% Increase in Homeowners Rates

North Carolina homeowners could see their first rate increase in four years as the state’s rating bureau called for a statewide average 17.7 percent increase in loss cost rates. The North Carolina Rate Bureau filed for the rate increase on …

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 …