Info
Submitted by WWAY on Tue, 10/23/2012 - 11:41am.

RALEIGH, NC (AP) -- Two weeks before an election deciding whether he keeps his job, North Carolina's insurance commissioner is telling companies they'll have to prove they should get to increase premiums by an average of nearly 18 percent. The move by Insurance Commissioner Wayne Goodwin on Tuesday at least postpones the rate increase insurers had wanted to take effect on June 1. Goodwin says he'll hold a hearing June 3. The Democrat seeking re-election to a second four-year term says the proposed rates appear excessive. The insurance companies are represented by the North Carolina Rate Bureau. The group's director and attorneys did not respond to a request for comment. The last homeowner's insurance rate increase was in 2008, before Goodwin took office. Insurance companies sought nearly 20 percent statewide and got 4 percent. (Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Full Story »
The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.

Reply