Insurance Commissioner Mike Causey today announced that the North Carolina Rate Bureau has submitted a rate filing with the N.C. Department of Insurance, requesting an increase for auto policies.
In the filing, the bureau has requested an overall average statewide increase in private passenger auto insurance rates of 28.4 percent, which would become effective on October 1, 2023.
The N.C. Department of Insurance has ended its legal dispute with the North Carolina Rate Bureau regarding the bureau's proposed 42.6% dwelling rate increase, averting a potentially costly administrative battle with insurance companies.
After studying the data, Insurance Commissioner Mike Causey negotiated a statewide average increase of 9.9%, which is 32.7 percentage points lower than the Rate Bureau requested.
The North Carolina Rate Bureau has filed a request with the N.C. Department of Insurance to increase insurance rates for mobile home policies.
North Carolina Insurance Commissioner Mike Causey has set April 17, 2023, as the hearing date for the North Carolina Rate Bureau’s proposed 42.6% dwelling insurance rate increase.
“We are not in agreement with the Rate Bureau’s proposed increases filed August 18, 2022. The next step, according to statute, is to set a hearing date,” said Commissioner Causey. “It is now necessary to hold a hearing to reach a resolution that will make the most financial sense for our residents and insurance companies.”
The North Carolina Department of Insurance received a dwelling insurance rate filing from the North Carolina Rate Bureau on Thursday, Aug.18. The Rate Bureau is seeking a statewide average increase of 42.6%, requesting 19.6% effective April 1, 2023, and a 19.2% increase effective April 1, 2024.
N.C. Insurance Commissioner Mike Causey is calling attention to rising vehicle fatality rates by addressing the key factors causing the deadly crashes, urging North Carolinians to put driving first while behind the wheel this summer.
North Carolina Insurance Commissioner Mike Causey is reminding homeowners that insurance rate changes will take effect on June 1, 2022. Consumers will likely see the rate increase on policies that are taken out or renewed on or after today.
North Carolina Insurance Commissioner Mike Causey, who also serves as the State Fire Marshal, will announce new insurance ratings at two Raleigh fire departments this week.
On Tuesday morning, Commissioner Causey will unveil the new fire rating for the Durham Highway Fire Department, and he will visit the Western Wake Fire Department to present its fire rating on Wednesday afternoon.
North Carolina Insurance Commissioner Mike Causey will present checks to three emergency response units in Scotland and Robeson counties and present an Order of the Guardian Award during visits scheduled on Friday, April 29.
Insurance Commissioner Mike Causey announced today that the N.C. Department of Insurance has ended its legal dispute with the North Carolina Rate Bureau on its proposed 24.5% homeowners insurance rate increase, averting a potentially costly administrative battle with insurance companies. Commissioner Causey and the Rate Bureau settled on an average 7.9% statewide increase, which is a 16.6% lower rate than the Rate Bureau requested. This means the hearing scheduled for Jan. 3, 2022, is canceled.
