Bringing The World Home To You

© 2022 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton 94.1 Lumberton 99.9 Southern Pines
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

NC Insurance Commissioner Nixes Higher Rate

A picture of a sale sign in front of a home.
myguysmoving.com
/
Flickr, Creative Commons

North Carolina's insurance commissioner has rejected a proposed 18.7 percent increase on home insurance rates.

Instead, Insurance Commissioner Mike Causey scheduled a July 23 hearing to consider more evidence. The request by the N.C. Rate Bureau was to take effect July 1, but now it will be delayed for the hearing

The rate bureau, which represents the industry, had asked in November for the statewide increase, which would range from an increase of 80.5 percent in some coastal counties to a decrease of 7.1 percent in parts of western North Carolina.

If the insurance department and the rate bureau can't settle the matter, Causey would preside over the July hearing and issue a decision. The Rate Bureau could appeal Causey's ruling to the state Court of Appeals.
 

The Associated Press is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers. AP is neither privately owned nor government-funded; instead, it's a not-for-profit news cooperative owned by its American newspaper and broadcast members.
Related Stories
More Stories