NC insurance commissioner says no to industry plan that could double rates at coast
North Carolina's top insurance regulator has denied an industry request to raise homeowners' insurance premiums by an average of 42% — and to almost double them in parts of coastal counties — saying Tuesday that “almost nobody” who weighed in agreed with the proposed increase. Insurance Commissioner Mike Causey also set a hearing for October to evaluate the request and determine what is reasonable. “I just want to announce today that I said no,” Causey said at the meeting of the Council of State, composed of 10 statewide elected executive branch positions. Read more: https://www.wcnc.com/article/money/nc-insurance-commissioner-not-doubling-rates-at-coast/275-9707b2e4-1bd0-4df7-a2f8-7923f8c32b12 Watch WCNC Charlotte each weekday morning from 4:30 to 7 a.m. WCNC Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at WCNC Charlotte. SUBSCRIBE: Apple Podcasts || Spotify || Pandora || TuneIn || Google Podcasts || iHeart All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere.
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Show Notes
North Carolina's top insurance regulator has denied an industry request to raise homeowners' insurance premiums by an average of 42% — and to almost double them in parts of coastal counties — saying Tuesday that “almost nobody” who weighed in agreed with the proposed increase.
Insurance Commissioner Mike Causey also set a hearing for October to evaluate the request and determine what is reasonable.
“I just want to announce today that I said no,” Causey said at the meeting of the Council of State, composed of 10 statewide elected executive branch positions.
Watch WCNC Charlotte each weekday morning from 4:30 to 7 a.m.
WCNC Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at WCNC Charlotte.
SUBSCRIBE: Apple Podcasts || Spotify || Pandora || TuneIn || Google Podcasts || iHeart
All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere.