Commissioner Causey Negotiates Dwelling Rate Settlement with Insurance Companies

Commissioner Causey negotiates dwelling rate settlement with insurance companies

Special to IFN RALEIGH --  Insurance Commissioner Mike Causey announced this week that the N.C. Department of Insurance has settled a dwelling rate case with North Carolina insurance companies. Causey negotiated an average statewide increase of 5 percent per year over the next two years. The negotiated increases are average statewide figures, which vary by territory. The…

N.C. approves modest rate hike for vacation home insurance

North Carolina regulators approved a 5% annual increase over two years for dwelling insurance policies covering vacation homes and rentals, far below a proposed 68% hike. Officials cited rising costs and risks, while insurers warned rates may still be too low as more policies shift to state-backed plans.