Tag: North Carolina insurance

What the Proposed Rate Hikes Mean for North Carolina Homeowners Insurance Policies

Nordstrom
North Carolina Homeowners Insurance

North Carolina Faces Rising Homeowners’ Insurance Rates Background on the Rate Increase Proposal North Carolina homeowners are bracing for a significant decision regarding a substantial proposed increase in homeowners’ insurance premiums. The North Carolina Rate Bureau (NCRB), representing private insurance companies, has requested an average statewide rate hike of 42.2%. Insurers argue that escalating costs due to natural disasters, repair expenses, and reinsurance premiums necessitate the increase. While the proposed hike averages 42.2%, coastal areas like Emerald Isle and Swansboro could see skyrocketing increases ranging from 71.4% to 99%. Meanwhile,…

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Blue Cross Blue Shield of NC joins insurance commissioner to build rural fire houses

Julie Campbell
Blue Cross Blue Shield of NC - Fire truck in fire station

Insurance Commissioner Mike Causey worked with the insurer to pay for the building construction. Blue Cross Blue Shield of NC and the state’s insurance commissioner, Mike Causey, joined together to help fund the construction of rural fire house in the state. The commissioner is seeking to improve the rural fire department quality as a whole. Causey has taken on the project to help the state’s rural fire departments to return to better health. Blue Cross Blue Shield of NC joined him in helping to finance the effort, and he has…

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NC insurance commissioner bans move-ins in unsafe university residence

H. Cutner
NC Insurance Commissioner - Uniersity - Residences

The newly constructed University of North Carolina at Asheville residence halls were found unsafe. The NC insurance commissioner has banned students from being able to move into their residences at the University of North Carolina Asheville. Five newly constructed residence halls are deemed unsafe. The buildings were found to have issues that could pose safety and life concerns to residents. “As insurance commissioner, safety is my top priority,” said NC insurance commissioner Mike Causey. “I will not allow anyone to live in a building that may pose a threat to…

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Insurance fraud fighting gets a boost in North Carolina

Marc
Insurance Fraud - North Carolina Boosts number of Insurance Fraud Agents

The state’s Insurance Department has added 15 agents to its team of scam hunters. The North Carolina Department of Insurance has announced the expansion of its insurance fraud investigation team. Fifteen new special agents will take part in criminal investigations. North Carolina Insurance Commissioner Mike Causey made the announcement. The additional insurance fraud investigating team members have doubled the previous size of the department, said Causey. The N.C. Insurance Commissioner has implemented a new strategy for eliminating scams and fraudulent activities involving insurance in North Carolina. The expansion of the…

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North Carolina homeowners insurance rate hike paused for now

Logan B.
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…

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