Quantcast

South Raleigh News

Sunday, November 24, 2024

N.C. Rate Bureau requests 28.4 percent rate increase for auto insurance

Ratings

Ratings | Pexels by RODNAE Productions

Ratings | Pexels by RODNAE Productions

Insurance Commissioner Mike Causey today announced that the North Carolina Rate Bureau has submitted a rate filing with the N.C. Department of Insurance, requesting an increase for auto policies.

In the filing, the bureau has requested an overall average statewide increase in private passenger auto insurance rates of 28.4 percent, which would become effective on October 1, 2023. 

The N.C. Rate Bureau represents the auto insurance companies in the state and is not a part of the N.C. Department of Insurance. By law, the bureau must submit auto rate filings with the department every year by February 1.

Commissioner Causey and department staff will thoroughly review the filing and determine whether the requested increase is justified or not based on the data submitted. If the department does not agree with the requested increase, it can negotiate a settlement or call for a hearing.

press@ncdoi.gov

919.807.6017

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