Advertisement:

NC Home Insurance Increase Set For October Hearing

RALEIGH, N.C. North Carolina's top insurance regulator says a hearing for insurance companies to explain their request to raise the cost of homeowners coverage by an average of 25 percent won't come until October.


Insurance Commissioner Wayne Goodwin said Tuesday the public hearing has been rescheduled from August to Oct. 20. Goodwin ordered a hearing because his staff determined the proposed rates appeared to be excessive and unfairly discriminatory.


North Carolina homeowners saw an average 7 percent increase a year ago, but companies said they needed more due to damage and claims projections. Experts hired by the North Carolina Rate Bureau say to ensure an insurance market with price competition, choice and the financial stability needed to pay claims calls for profit margins averaging about 10 percent.

 


InfoCenter


RDU Radar


Triangle Traffic

Reports | Cams

Air Quality

Pollen Forecast

Station Events

Saturday 7/11

Weekend Gardener at Agri Supply of Garner

Saturday 7/25

Weekend Gardener at Big Bloomers of Sanford

Advertisement:

On Air Now

Brandon Dickson

Brandon Dickson

9:00am - 10:00am

Next Up:

Patrick Johnson

On Air Now

The Morning Drive

The Morning Drive

6:00am - 10:00am
Call 919-860-WPTF (9783)

Next Up:

Sam Sorbo

Advertisements

Listener Club Login

Club Login
Sign up if you are not already a member