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Deadline for public comments on insurance hike Friday

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WILMINGTON, NC (WWAY) -- If you want to have your say about a proposed hike in homeowners insurance that could cost residents in coastal counties up to 30 percent more, you're running out of time. The deadline for the public to submit comments on the insurance companies' request to raise homeowners insurance rates is tomorrow.

The insurance industry, represented by the North Carolina Rate Bureau, has requested a statewide average increase of 17.7 percent for homeowners insurance.

Written public comments should be mailed to:

NCDOI
Attn: Bob Mack
Property & Casualty Division
1201 Mail Service Center
Raleigh, NC 27699-1201

You can also e-mail your comments to 2012homeowners@ncdoi.gov.

As of today, the Department of Insurance had received more than 3,900 e-mailed or written comments. Approximately 30 people made comments in-person during a public comment session held yesterday.

The rate filing will be reviewed by Department of Insurance experts to determine what, if any, rate adjustments are warranted. If the Department of Insurance and North Carolina Rate Bureau cannot agree on rate changes, Insurance Commissioner Wayne Goodwin will call for a formal hearing in which both parties would present their cases for any rate adjustments.

The filing is available for public review on the Department of Insurance's website. Enter the Serff Tracking Number NCRI-128708881.

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