Quantcast

South Raleigh News

Friday, November 22, 2024

Commissioner postpones homeowners’ insurance rate hearing to January 2022

Ncdoi

North Carolina Department of Insurance recently issued the following announcement.

North Carolina Insurance Commissioner Mike Causey has postponed the hearing for the insurance industry’s proposed statewide average 24.5% homeowners’ insurance rate increase to Jan. 3, 2022. The hearing had been scheduled for Monday, Nov. 1.

The hearing will begin at 10 a.m. in the Second Floor Hearing Room in the Albemarle Building, 325 N. Salisbury St., Raleigh.

The hearing will be held unless the N.C. Department of Insurance and the N.C. Rate Bureau are able to negotiate a settlement before that date. The two sides can settle the proposed rate increase at any time during litigation.

The N.C. Rate Bureau, which is not a part of the N.C. Department of Insurance, represents insurers that write the state’s homeowners policies. The Rate Bureau filed the average 24.5% homeowners increase Nov. 9, 2020.

Original source can be found here.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS