North Carolina Senate OKs Insurance Laws That Could Mean Savings

April 23, 2013

A pair of automobile insurance bills doesn’t overhaul how premiums are set in North Carolina but could provide some cost savings for consumers.

The North Carolina Senate approved the legislation by wide margins last Thursday. That’s two days after a broader House measure letting insurers avoid the state’s Rate Bureau procedure to raise and lower rates failed in committee.

One measure would make it easier for insurers to offer optional coverages or programs to motorists as in other states but are more difficult to get approved. That’s because all insurers file through the Rate Bureau one combined annual premium proposal to the state insurance commissioner.

Another bill attempts to make clear older drivers who’ve moved recently to North Carolina shouldn’t be treated like high-risk teenage drivers. The bills now go to the House.

Topics North Carolina Politics

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Latest Comments

  • April 29, 2013 at 7:55 am
    james says:
    It's the good ol' boys network in the insurance commission, impeding positive change. They care more about appearing to "care" about the lower class and getting elected than ... read more
  • April 27, 2013 at 1:28 pm
    deanziegler says:
    the insurance climate is going to implode under Wayne Goodwin's watch. Largest reinsurance facility in the US (4 times more than 49 other states COMBINED). Wait til you see wh... read more
  • April 23, 2013 at 2:38 pm
    Rick Kepler says:
    Once again, the State's politicians are putting a band aid on a major problem of insurance rating in NC. NC is the only state left with a Rate Bureau that establishs a pricin... read more

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