Bill to Change Insurance Rate Process Pulled from Legislature
Posted May 22, 2007 7:44 p.m. EDT
Raleigh, N.C. — A bill that would take rate setting authority away from the state insurance commissioner appears to be losing steam in the General Assembly.
On Tuesday, the bill was pulled from a committee calendar.
Lobbyists for insurance companies said they want an impartial panel to set rates. Consumer advocates have warned the insurance industry is simply looking for a way to raise rates.