North Carolina auto insurance rates are going up 5% on average in settlement

North Carolina auto insurance rates are going up 5% on average in settlement

RALEIGH, N.C. (AP) — North Carolina automobile insurance rates are poised to increase statewide this fall by a 5% average as part of an agreement reached between state regulators and the insurance industry. The settlement announced Monday by Insurance Commissioner Mike Causey is lower than the average 22.6% rate increase for private passenger vehicles originally requested by the North Carolina Rate Bureau. A September public hearing on the request would have been held in September without the settlement. The changes take place Oct. 1 and includes an average 16.3% decrease on motorcycle liability insurance rates.… Continue Reading

North Carolina’s insurance commissioner is out of the hospital after heart surgery

North Carolina’s insurance commissioner is out of the hospital after heart surgery

RALEIGH, N.C. (AP) — North Carolina Insurance Commissioner Mike Causey is out of the hospital 10 days after undergoing heart surgery. The Republican underwent what his department called “elective” surgery to “correct a congenital heart defect.” Causey told a Greensboro newspaper that he had developed an aneurysm. The 74-year-old was released Thursday. Causey said the surgery wasn’t disclosed beforehand in part because he didn’t want to alarm anybody ahead of time unnecessarily. He said the defect was discovered in late 2023. Further examination showed he had developed an aneurysm. Causey was first elected commissioner in 2016. He won a third four-year term this past November.… Continue Reading

Insurance magnate pleads guilty as government describes $2B scheme

Insurance magnate pleads guilty as government describes $2B scheme

CHARLOTTE, N.C. (AP) — An insurance magnate who was once a big political donor in North Carolina has pleaded guilty related to what prosecutors call a $2 billion scheme to defraud insurance regulators, policyholders and others. Greg Lindberg of Florida entered the plea on Tuesday in Charlotte to one count of conspiracy to commit offenses against the United States and one count of conspiracy to commit money laundering. The government says Lindberg and other conspirators conducted transactions through companies from which he skimmed funds for personal benefit. No sentencing date has been set. Lindberg also is awaiting sentencing after being convicted in May of attempting to bribe North Carolina’s insurance commissioner to secure preferential regulatory treatment.… Continue Reading

Democrats gain another statewide position in North Carolina with Rachel Hunt victory

Democrats gain another statewide position in North Carolina with Rachel Hunt victory

RALEIGH, N.C. (AP) — The group of North Carolina elected executive branch positions known as the Council of State will have equal numbers of Democrats and Republicans come January. Democrats flipped the positions of lieutenant governor and superintendent of public instruction, while a Republican defeated the incumbent Democratic state auditor. Rachel Hunt’s victory for lieutenant governor capped other top Democratic wins, including Josh Stein for governor and Jeff Jackson for attorney general. Hunt is the daughter of former four-term Gov. Jim Hunt. Meanwhile, Republicans continued their recent dominance in appellate court races by winning three seats and leading narrowly in a fourth.… Continue Reading

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