Live Insurance News

Auto insurance legislation struck down in North Carolina

April 19, 2013April 17, 2013 Logan B.

Auto insurance bill fails before House Insurance Committee A legislation designed to reform North Carolina’s regulations governing auto insurance rates has been unseated by the state’s House Insurance Committee this week. The bill was put down by a vote of 18-11, with opponents claiming that the legislation did not offer solutions to the state’s current problem. The legislation was staunchly opposed by Insurance Commissioner Wayne Goodwin, as well as several companies and trade groups representing the auto insurance industry. Bill aimed to provide insurers with more freedom in the rate…

Unemployment insurance plans in North Carolina spark controversy

February 16, 2013February 14, 2013 S.Vagus

Lawmakers push changes for unemployment insurance North Carolina legislators have been working on a plan to reduce the benefits people receive through unemployment insurance. A bill has been introduced that aims to reduce the maximum weekly benefits that unemployed people can receive from the state’s unemployment insurance program from $530 to $350. The legislation would also cut down on the maximum duration that a person can receive such benefits from the current 20 weeks to just 12 weeks. The legislation has received criticism from consumer advocacy groups and has now…

North Carolina homeowners insurance companies called to justify rate increases

October 26, 2012October 24, 2012 Marc

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…

Homeowners insurance in North Carolina may be getting more expensive

October 5, 2012October 5, 2012 Marc

Homeowners insurance rate increase proposal coming from state insurers Homeowners in North Carolina may soon see their insurance rates jump if insurers are granted approval for proposed rate hikes. Many of the state’s insurance companies are looking to raise rates on homeowners insurance coverage to account for several risk factors that companies believe consumers are confronted with. Homeowners insurance in North Carolina has been a tricky subject recently, with many insurance companies looking to mitigate their exposure to the risks associated with powerful natural disasters, which have caused some havoc…

Irene Weakens to Tropical Storm as it Makes Landfall on New York’s Coney Island

August 28, 2011 Guest Author

BOSTON, Aug. 28, 2011 – According to catastrophe modeling firm AIR Worldwide, Irene deviated slightly from the NHC forecast track yesterday, taking a slight westward shift before resuming its north-northeast direction. This brought the center of the storm into New Jersey, near Little Egg Inlet, for its second landfall at 5:30 am this morning. Sustained winds, as reported by the NHC, were 75 mph. “It is worth noting, however, that as yet there have been no onshore wind observations of greater than tropical storm force since Irene made landfall near…