The Senate Insurance Committee gave unanimous approval Wednesday to a bill that would allow auto insurers to offer proprietary incentive programs in North Carolina.
Under current law, North Carolina auto insurers are all lumped together within the Rate Bureau. They can't raise individual cases to win approval of any incentives or enhancement programs unique to their company, like Progressive's 'Snapshot' program.
"I was hoping she'd be here today," he quipped. "I guess she was busy."
The bill wouldn't affect the operations of the Rate Bureau. Instead, insurers would seek approval for those proprietary programs from the insurance commissioner on a case-by-case basis.
Apodaca said the measure is a compromise bill that's supported by all stakeholders, including Insurance Commissioner Wayne Goodwin.
The bill could be on the Senate floor for a vote Thursday.
Copyright 2023 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.