Live Insurance News

Legislation removes rate caps on auto insurance in North Carolina

June 18, 2014June 15, 2014 S.Vagus

New legislation removes rate limitations on auto insurers New legislation could remove North Carolina’s limits on auto insurance rates. Currently, the state’s insurance companies are required to adhere to rules that place limits on how much they can charge for auto insurance every year. These limits are determined by Insurance Commissioner Wayne Goodwin, along with other regulators, and are meant to provide consumers with some degree of financial protection. The new legislation will change this, allowing insurers to opt out of the current regulatory structure and have more control over…

New regulations target auto insurance laws in North Carolina

June 3, 2014June 4, 2014 Marc

Regulations could benefit drivers in North Carolina New regulations may have a major impact on drivers throughout North Carolina, if they are approved by the state’s lawmakers. These regulations would change the state’s auto insurance laws, which were created in 1957 and have seen little reform over the years. The regulations have managed to win strong support from the state’s insurance companies, many of whom are eager to see changes to insurance laws in order to better manage modern trends and risks in the state’s market. Insurers show support for…

Abortion insurance ban considered for some NC policies

July 24, 2013July 22, 2013 G. Turner

Health insurance care reform confusion debate

The state is looking into stopping private health plans from being able to provide this coverage. The state of North Carolina is weighing a proposed law that would stop abortion insurance coverage from being included in the health plans that are sold within the online exchange starting in October 2013. This would not be a regulation for all insurers in the state, but only those who plan to sell over the public marketplace. Limiting the private abortion insurance coverage is permitted under the federal healthcare reform laws that require nearly…

Auto insurance bill in North Carolina fails to pass

April 18, 2013April 30, 2013

A measure that would have changed the way that the coverage is regulated in the state was voted down. A bill designed to change the way that auto insurance rates are regulated within North Carolina, and which was strongly opposed by Wayne Goodwin, the commissioner for the state, has failed to pass. The House Insurance Committee voted the bill down on Tuesday, causing the measure to fail. The auto insurance rate regulation bill failed by a vote of 18 to 11, following the presentation of the views of both the…

Auto insurance bill amendments in NC isn’t out of the woods yet

April 13, 2013April 11, 2013 G. Turner

There is still opposition being faced by a controversial bill that would change the state regulation system. An auto insurance bill in North Carolina is still facing opposition, as the controversial effort attempts to change the way that the rates in the state are regulated, despite the fact that the bill has been modified in acknowledgement of the objections that have been identified by its opponents. The opponents were not won over by the amendments that were made to this bill, which include the commissioner. Among those who remain opposed…