Live Insurance News

Homeowners insurance sector may be in for some changes in North Carolina

May 13, 2015May 11, 2015 Nordstrom

Legislation aims to bring about significant changes to the homeowners insurance sector Major changes could be coming to the homeowners insurance sector in North Carolina. A new legislation, called the Property Insurance Fairness Act, has managed to make its way through the first few steps of the legislative process, making its way through the state’s House of Representatives. Lawmakers supporting the bill are looking for ways to mitigate the impact of what are known as “once in a century storms,” major events that can cause significant damage to properties. Legislation…

North Carolina auto insurance tax will contribute to roadway maintenance

April 21, 2015April 18, 2015 H. Cutner

Higher taxes for gasoline and a range of other fees will help to keep the highways in the state paved. North Carolina has had to come up with a new plan to pay for the construction and maintenance of highways in the state, and it has now rolled out a plan that will use taxes on gasoline and auto insurance as well as increased vehicle fees in order to help to ensure that the funds that are needed will be available. The reason that the additional revenue streams are required…

Property insurance rate reform may be on its way in North Carolina

April 7, 2015April 5, 2015 H. Cutner

coastal flood property insurance north carolina

Coastal leaders are seeking new ways to settle these rates, underscoring that this will benefit policyholders across the state. In North Carolina, coastal leaders are currently leading an effort to reform the property insurance rate setting process, while still making sure to point out that the legislation that they are proposing would be to the benefit of people across the entire state and not just those who have homes along the coastlines. The reforms would be based on the belief that there is a flaw in the current rate calculation…

Lawmakers seek to reduce cost of property insurance in North Carolina

March 13, 2015March 12, 2015 S.Vagus

New legislation targeting property insurance has been introduced in North Carolina Lawmakers in North Carolina are looking to reduce property insurance rates by changing the state’s initiative to cover catastrophic losses caused by natural disasters. A new legislation has been introduce that would establish a public bonding authority, which will be part of the North Carolina Coastal Property Insurance Pool. The legislation would also require insurers to provide information concerning the costs they must bear by providing coverage to coastal properties and how much money they are making from these…

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…