Tag: North Carolina insurance

Crop insurance fraud detected in NC worth $21 million

Marc
Crop Insurance Fraud

A North Carolina man will now be going to jail for his role in the multimillion dollar scam. A man living in North Carolina will be leaving his current home in order to take up residence in jail after having taken part in a crop insurance fraud scam that is currently estimated to have stolen approximately $21 million. The scandal has stretched over several participants but this individual has just pled guilty to his crimes. The man’s name is Jimmy Thomas Sasser, from Wilson, North Carolina. On Wednesday, he stated…

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Homeowners insurance rate hike leads Commissioner to call hearing

homeowners insurance

This was a response to NC insurers that have requested considerable premiums increases. Wayne Goodwin, the commissioner for North Carolina, has ordered a hearing in response to the request that homeowners insurance companies in the state have made requests to their policyholders for an increase in their premiums. The commissioner feels that the proposed rates are unfairly discriminatory and excessive. This story was first reported by Insurance News Report on January 23, 2013, but it has since then developed to the point that the commissioner has felt the need to…

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Homeowners insurance companies in NC ask to increase rates

North Carolina Homeowners Insurance Rates

The permission of policyholders is being requested for price hikes in North Carolina. Homeowners insurance companies have been contacting their customers in North Carolina in order to request their permission for a rate increase that is extremely high in some cases. Some property owners received letters that are asking for approval of astronomical hikes. In some instances, the new premiums requested by the homeowners insurance companies were over 50 percent higher than the maximum approved rate in the state. An example of this scenario occurred on January 20, when a…

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Workers compensation study draws attention from NC employees

North Carolina Republican panel supports health care reform challenge

Those hired by the state in North Carolina are seeking to participate in upcoming research. Employees of the state of North Carolina, as well as their advocates, have announced that they feel that their voice should be included in research that will help in the planning of their workers compensation plans for the future. They have said that they deserve to be able to contribute in the plans for their upcoming coverage. The study in question is one that legislators in the state will be using for the creation of…

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North Carolina homeowners insurance companies called to justify rate increases

Marc
North Carolina Insurance News

North Carolina homeowners insurance becomes target of regulatory action Insurance companies in North Carolina are being called upon to justify a proposed increase in insurance rates. According to the state’s Department of Insurance, many homeowners insurance providers have proposed an average rate increase of 18% throughout the state. The proposition has caused some turmoil amongst consumers who consider such an increase to be unfair. Insurance Commissioner Wayne Goodwin is now calling upon North Carolina homeowners insurance companies to provide more information on why they believe the rate hikes to be…

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