North Carolina Rate Bureau News

North Carolina Revises Workers’ Comp Premium Rules Related to COVID-19

Two new rule revisions to the North Carolina Basic Manual for Workers Compensation and Employers Liability (NC Basic Manual) related to the COVID-19 pandemic have been approved by the North Carolina Department of Insurance. The North Carolina Rate Bureau (NCRB) …

North Carolina Insurers Settle for 4% Rate Increase on Dwelling Policies

The North Carolina Department of Insurance and the North Carolina Rate Bureau (NCRB) have reached a settlement for an average 4% increase on a proposal to increase dwelling insurance rates. A hearing on the proposal scheduled for Jan. 13 has …

North Carolina Insurers Request 19.2% Rate Increase for Dwelling Policies

The North Carolina Department of Insurance has received a dwelling insurance rate filing from the North Carolina Rate Bureau requesting a statewide average rate increase of 19.2%, varying by territory. The N.C. Rate Bureau, which is not part of the …

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 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 Rate Bureau Requests 18.7% Increase for Homeowners Insurance

The North Carolina Rate Bureau has filed notice with the N.C. Department of Insurance request a statewide average increase in homeowners insurance rates of 18.7 percent for 2018, according to Insurance Commissioner Mike Causey. The NC Rate Bureau represents the …

North Carolina Rate Bureau Withdraws Dwelling Rate Increase of 19.6% over Data Error

The North Carolina Rate Bureau is alerting all member companies that it has withdrawn its request for a 19.6 percent rate increase on dwelling policies due to a data error on its Dwelling Policy Program revisions announced in April, 2016. …

North Carolina High Court Dismisses Insurer Rate Increase Request

North Carolina’s Supreme Court is rejecting efforts by insurance companies to raise homeowners’ premiums. The state’s highest court on Friday dismissed arguments by the group that represents North Carolina insurers, which in 2014 sought an average 25 percent increase in …

Agency Owner Causey Defeats Goodwin in North Carolina Commissioner Race

North Carolina Insurance Commissioner Wayne Goodwin, a Democrat, was narrowly defeated Tuesday by his Republican opponent Mike Causey. Goodwin has served as North Carolina Insurance Commissioner since 2009. Causey, an insurance agency owner, won by nearly 39,000 votes, according to …

North Carolina Insurers Want Supreme Court Review of 25% Home Insurance Rate Hike Denial

The homeowners insurance rate increase disagreement between the North Carolina Department of Insurance (NCDOI) and the insurance industry is not over. The North Carolina Rate Bureau (NCRB), which files rates with NCDOI on behalf of insurers writing in the state, …