N.C. insurance commissioner protesting request for rate hike
Residents of North Carolina could soon see their home insurance rates go up if insurance companies across the state get their way.
In early January, the N.C. Rate Bureau, on behalf of those companies, requested an overall statewide increase of 25.3 percent, varying by geographic territory. According to the original request, the new rates would go into effect on August 1 of this year.
That has however been put on hold as a result of N.C. Department of Insurance Commissioner Wayne Goodwin finding fault in the request.