North Carolina Department of Insurance (NCDOI) News

North Carolina Rate Bureau Requests 17.4% Rate Hike for Homeowners’ Policies

The North Carolina Rate Bureau (NCRB) has requested a 17.4 percent increase in homeowners’ insurance rates from the North Carolina Department of Insurance, effective Oct. 1, 2019. According to the NCDOI, the NCRB attests the increase is needed to cover …

North Carolina Insurance Head Sends Controversial Campaign Contribution to FBI

North Carolina’s insurance commissioner said he’s handing over to the federal government a contribution that’s the subject of a citizen’s complaint alleging improper campaign giving by a leading state donor who also faces scrutiny from federal investigators. Insurance Commissioner Mike …

Hurricane Florence Damage in North Carolina Reaches $17B

Hurricane Florence in North Carolina is now estimated to have caused $17 billion in damage, according to a statement from Governor Roy Cooper’s office. An Oct. 31 updated damage estimate from the North Carolina Office of State Budget and Management …

North Carolina Approves 17.2% Rate Decrease for Workers’ Comp

The North Carolina Rate Bureau’s 17.2 percent rate decrease filing for workers’ compensation insurance has been approved by North Carolina Insurance Commissioner Mike Causey, according to a statement from the North Carolina Department Insurance. “This rate decrease should serve as …

Subpoena Issued to North Carolina Insurance Department Over Private Political Donor

A federal investigation seeks documents about business operations connected to a private investment firm founder who seemingly overnight became the largest individual donor in North Carolina politics. The federal grand jury subpoena issued last month to the state Department of …

North Carolina Sets Up Insurance Camps, Victim Assistance Centers With FEMA, NFIP

Consumer assistance centers and insurance camps have been set up in areas of North Carolina affected by Hurricane Florence, according to a statement from North Carolina Insurance Commissioner Mike Causey. “We are going in to flood-ravaged areas to assist people …

North, South Carolina Insurance Chiefs Ready for Hurricane Florence

Hurricane Florence could be one of the largest storms to hit the Carolinas in decades and state insurance officials say they are ready for whatever it will bring to their regions. In interviews with Insurance Journal on Tuesday, South Carolina …

North Carolina Insurance Fraud Round-Up: August

The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of August. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North Carolina Insurance Commissioner Mike Causey, fraud costs North Carolinians between …

North Carolina Insurance Fraud Round-Up: July

The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of July. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North Carolina Insurance Commissioner Mike Causey, fraud costs North Carolinians between …

North Carolina Estimates $30M Economic Impact from Insurance Captives

The North Carolina captive insurance program, established in 2013, had an estimated $30 million impact on the state in 2017, according to a statement from the North Carolina Insurance Department. The $30 million estimate comes from a recently completed study …