North Carolina Insurance Commissioner Mike Causey News

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 …

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 …

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 …

Arch Capital to Open Headquarters in North Carolina

Arch Capital Group Ltd. (ACGL), a globally diversified financial services group providing insurance, reinsurance and mortgage insurance, will open an operational hub in Raleigh, N.C., and create 365 new jobs over four years, according to a statement from North Carolina …

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 …

Recovery Efforts Underway in North Carolina After Tornado Damages 1K Structures

North Carolina Insurance Commissioner Mike Causey this week toured some of the areas hardest hit by a mid-April tornado, saying the storm damaged more than 1,000 buildings in one county alone. As the clean-up efforts continue in Greensboro and Rockingham …

North Carolina Homeowners Insurers Agree to 4.8% Rate Increase

The North Carolina Department of Insurance has reached a settlement with the North Carolina Rate Bureau on homeowner insurance rates that will increase rates statewide by an average of 4.8 percent. The agreement between the two parties effectively ends the …

North Carolina Touts Growth of 5-Year-Old Captive Insurance Program

North Carolina’s captive insurance company program, now in its fifth year of operation, has established itself as a leading domicile for captive insurance companies, according to a statement from North Carolina Insurance Commissioner Mike Causey. The North Carolina Captive Insurance …

North Carolina Insurance Agent Arrested for Embezzling $18K in Premiums

A North Carolina insurance agent has been arrested and charged with embezzling more than $18,000 in insurance premiums, according to a statement from North Carolina Insurance Commissioner Mike Causey. Billie Jo Kennedy, 47, of Trenton, N.C., was arrest earlier this …

North Carolina Woman Accused of Defrauding Progressive Insurance

A North Carolina woman has been arrested and charged with solicitation to obtain property by false pretenses, according to a statement from North Carolina Insurance Commissioner Mike Causey. Heaven Symone Lassiter, 23, of Ahoskie, is accused of providing false information …