Insurance Commissioner Jim Long has announced plans for a hearing on auto insurance rates set for September.
This announcement came after the North Carolina Rate Bureau, an independent organization that represents all auto insurance companies in the state, filed for an 11.5 percent increase in rates on Feb. 1.
Department officials reviewed the rate filing and determined that the requested increase was not justified. State law requires Commissioner Long to serve as hearing officer during a hearing to decide the matter. Auto rate hearings typically encompass three to four weeks of testimony from both sides. Commissioner Long will decide what rate change, if any, is warranted during the hearing.
Topics Auto
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