Live Insurance News

Health insurance provider breaks regulations in North Carolina

March 11, 2015March 9, 2015 Nordstrom

Aetna could face fines and other penalties from state regulators for numerous infractions Health insurance provider Aetna has run afoul of North Carolina’s insurance regulators. According to the North Carolina Department of Insurance, the company has sold policies to several hundred consumers without the state’s approval. The agency approved these policies in order to ensure that people do not lose their health insurance coverage, but Aetna may be subject to fines and other penalties for selling insurance products without the states authorization. Company reports its own infractions, which may have…

Homeowners insurance rates may skyrocket in North Carolina

January 29, 2015January 27, 2015 Marc

Homeowners are receiving consent to rate letters from their insurance providers Homeowners insurance providers in North Carolina are sending consumers “consent to rate” letters. These letters are informing homeowners that they must agree to pay higher rates for their coverage or risk losing this coverage entirely. For many, this will mean that insurance policies will become significantly more expensive this year. Others may choose to find new homeowners insurance providers and, in some cases, this could save them money on coverage. State regulators deny rate increases from insurers, but state…

Homeowners insurance companies haven’t given up on rate hike requests

January 20, 2015January 17, 2015 H. Cutner

Despite the fact that they have been unsuccessful, so far, insurers in North Carolina are still trying. According to an industry spokesperson in North Carolina, homeowners insurance companies are not yet ready to back down on their goal to increase premiums by an average of 25 percent across the state. A group that represents nearly 100 insurers in the state is taking its case to the Court of Appeals. According to Ray Evans, a spokesperson for the Rate Bureau industry group, which represents almost 100 companies that sell N.C. homeowners…

Homeowners insurance rate change requested for mobile homes

January 14, 2015January 13, 2015 Julie Campbell

The North Carolina Department of Insurance has released a statement to describe the request from the industry. The N.C. Department of Insurance (NCDOI) has now received a rate filing for homeowners insurance rates from the N.C. Rate Bureau, which is an entity that is not a part of the department, and which represents all insurers in the state that sell coverage for mobile homes. There are two different types of mobile home insurance that are offered in North Carolina. The first is through the MH(C) form, and the second is…

Homeowners insurance rates set to decrease in North Carolina

December 30, 2014December 27, 2014 S.Vagus

State Insurance Commissioner opts to reject rate increase proposals from insurance companies Insurance rates for homeowners in North Carolina may not be rising due to action taken by the state’s Insurance Commissioner, Wayne Goodwin. Homeowners insurance companies had sought to raise rates by an average of 35% throughout the state. Last week, however, Commissioner Goodwin decided to strike down rate increase proposals from insurers. This move means that insurance rates will throughout the state are not expected to increase at all on January 1, 2015. Average cost of insurance coverage…