Auto insurance bill fails before House Insurance Committee A legislation designed to reform North Carolina’s regulations governing auto insurance rates has been unseated by the state’s House Insurance Committee this week. The bill was put down by a vote of 18-11, with opponents claiming that the legislation did not offer solutions to the state’s current problem. The legislation was staunchly opposed by Insurance Commissioner Wayne Goodwin, as well as several…

Insurers in North Carolina are hopeful that the industry in the state will undergo alterations. The North Carolina auto insurance industry is currently divided between the companies that would like things to remain the same as they are now, and those that are hoping to give next year another try for changing the state’s unique regulatory system in order to be able to alter the rates. At the moment the…

Lee Morton, the regional vice president for North Carolina at Nationwide Insurance addressed the N.C. Legislative Research Commission Joint Study Committee on Automobile Insurance Modernization regarding the improvement of rate systems. He talked about the competitive, strong, healthy, diverse, and low-cost system for auto insurance that is already present within the state and identified concerns about the impact that changing the system could have on the state’s motorists. Morton explained…