State to Fight Requested Auto Insurance Rate Increase
Posted March 6, 2008
Raleigh, N.C. — The state Department of Insurance on Thursday said it would oppose a proposed 13 percent average increase in auto insurance rates.
Insurance Commissioner Jim Long set a June 30 hearing on the request by the North Carolina Rate Bureau, an independent organization representing all auto insurance companies doing business in the state.
“This year’s request is the largest since 1994, and once again we question the tactics used by the insurance companies in determining this amount,” Sherri Hubbard, the DOI’s lead rate attorney, said in a statement.
Long will decide at the hearing what rate change, if any, is warranted. The Rate Bureau can appeal his decision in court.