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Posted: June 27, 2008

Auto insurance companies asking to raise rates

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Raleigh, N.C. — A hearing that begins Monday will give an opportunity for the North Carolina Rate Bureau, the insurance industry's organization, to argue for its request to raise auto-insurance rates by a statewide average of 13 percent.

State Insurance Commissioner Jim Long will preside over the session and will decide if auto-insurance companies can raise rates. The hearing is expected to last between four and six weeks.

State Department of Insurance officials said they will fight the increase, calling it "excessive" and "unjustifiable." DOI claims that its regulation of auto-insurance rates has saved North Carolin drivers more than $5 billion over the past 14 years.

The Rate Bureau can appeal Long's decision in the courts if it disagrees.

North Carolina has the sixth-lowest auto insurance rates in the country.

Copyright 2011 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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24 Comments


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Latest Comments
mfalesana - the status-quo does everything possible to block people like Paul and others that try to make a real change.

Gonna take more than that at this point. Even our 'rights' to do so are diminishing. Pay me now, or pay me later !
davidgnews
June 27, 2008 9:25 p.m.
We do need another revolution. And we sort of have one starting to get together and slowly people are waking up and realizing what is going on and that we need to take our country back and make it great again. Check out Ron Paul. He has some good plans for america and very good ideals.
mfalesana
June 27, 2008 8:06 p.m.
They dont want to hear those statistics.
Click to view my profile Tired_of_LIBERALS
June 27, 2008 6:23 p.m.
What excuse are the Insurco's using? Less miles are being driven due to gas prices, so less wrecks and injuries should occur.
bushretard
June 27, 2008 5:02 p.m.
Heh everybody, I don't post opinions much either, but why don't we do like the "smart" folks. Lets just sit on our cracks and let the government foot all of our bills and give us some money so we can go buy those real expensive cuts of meat at the grocery store and not worry about a darn thing :)
Click to view my profile highergame4me
June 27, 2008 4:58 p.m.
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