North Carolina homeowners insurance rate hike paused for now

Releigh, Capital of North Carolina homeowners insurance rates

The NC insurance commissioner declined the price increase for the moment, but the halt is temporary. A recent request for a North Carolina homeowners insurance rate hike has been declined. This saves state residents from having to pay an average of 18.7 percent more for their home coverage. That said, the reprieve from the increased prices is only a temporary one as the rates will eventually rise. In the state, its commissioner must approve any North Carolina homeowners insurance rate changes. Though the industry requested the rate hike, it was…

Read More

North Carolina auto insurance customers will be paying more for coverage

north carolina auto insurance

Rates are expected to rise for many drivers in October, though the increase is less than what it might have been. North Carolina auto insurance rates may be on the rise in October, but drivers could have seen a much higher hike if regulators hadn’t stepped in. The state Department of Insurance signed a settlement agreement with the N.C. Rate Bureau to allow for a considerably lower rate increase than initially proposed. Insurance Commissioner Mike Causey made the announcement regarding the settlement agreement signing. Initially, the state Rate Bureau requested…

Read More

Health insurance benefits improve infant mortality rates

baby health insurance benefits infant mortality

A new study conducted by NC Child revealed that these rates are closely linked to coverage. Children’s health care advocacy group, NC Child, released the outcome of a recent health insurance benefits study it conducted. The organization looks into best health practices by collecting data from North Carolina families and communities. This most recent research looked specifically at the infant mortality rates and their relationship with health plans. The study indicated a direct relationship between health insurance benefits and improved infant mortality rates. NC Child director of research and data,…

Read More

Health insurance provider Blue Cross Blue Shield may face fines in North Carolina

Blue Cross Blue Shield health insurance

North Carolina Department of Insurance may issue fines against Blue Cross Blue Shield Blue Cross Blue Shield may be facing significant fines in North Carolina due to “unprecedented administrative failures,” according to the state’s Insurance Commissioner, Wayne Goodwin. The Commissioner intends to levy the maximum permissible fines against the health insurance provider as the insurers goes into its third month of enrollment and billing issues. The North Carolina Department of Insurance claims that it has received more than 8,700 calls and 1,900 formal complaints concerning Blue Cross Blue Shield this…

Read More

North Carolina health insurance companies owe $8.5 million in rebates

U.S. Health Insurance

Insurers must return some $8.5 million in premiums to consumers and businesses Health insurance companies in North Carolina will be reimbursing consumers and businesses some $8.5 million, according to the state Insurance Commissioner Wayne Goodwin. These insurers have failed to comply with the medical loss ratio, a provision of the Affordable Care Act that requires insurers to spend no less than 80% of the money they collect through premiums on medical care. For insurers providing coverage to businesses, the medical loss ratio is set at 85%. Medical loss ratio continues…

Read More

More North Carolina businesses are offering health insurance coverage

Releigh, Capital of North Carolina homeowners insurance rates

Employer-sponsored coverage is becoming more common, but only slightly More businesses in North Carolina have begun to offer their employees health insurance coverage, but this has only increased by a slight degree since 2010. In North Carolina, nearly half of all consumers below the age of 65 currently receive employer-sponsored insurance coverage. Since 2010, this has risen by less than 1%, while other states have seen a greater increase in employer-sponsored health insurance coverage. A new report from the Department of Health and Human Services has highlighted this issue. Number…

Read More

Consumers may need to shop around to find the best deal on their health insurance coverage

Releigh, Capital of North Carolina homeowners insurance rates

Insurance premiums are growing and consumers may be paying too much if they stick with their current policies With health insurance exchanges now open for business throughout the United States, consumers are being urged to shop around for the insurance coverage that they need. Insurers offering policies through exchanges will be increasing premiums for 2016 coverage. Some will be doing so by a significant margin, while others will be raising premiums by a modest degree. In order to find the best coverage at affordable rates, Sylvia Burwell, secretary of the…

Read More

North Carolina legislation could reduce auto insurance premiums

House committee approves legislation to provide restricted licenses to undocumented residents A legislation approved by a North Carolina House Finance Committee could make auto insurance premiums lower for drivers in the state. The legislation would grant limited driving privileges to undocumented immigrants. These people would be required to have auto insurance coverage, as mandated by the federal government and state law, and the influx of new consumers could be good news for other drivers in the state. Insurance rates could go down by a modest degree because of the new…

Read More

Homeowners insurance rates receive legislative attention in North Carolina

Homeowners Insurance news

Lawmakers approve legislation that will provide consumers with more information concerning their insurance rates The North Carolina House of Representatives have unanimously approved legislation that would provide consumers in the state to receive more time when responding to proposed rate increases on their homeowners insurance policies. The legislation also received votes that will allow it to proceed to the state Senate, where lawmakers will determine whether or not to pass the legislation into law. The legislation will also provide consumers with more information from their insurance providers. Consent to rate…

Read More

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

homeowners insurance

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…

Read More