Public opinion sought on rate hike

First Posted: 1/22/2014

RALEIGH—The public has until Friday to comment on a rate increase request being pushed by the insurance industry.

The North Carolina Rate Bureau has asked for a statewide average increase of approximately 25 percent for homeowners insurance.

The rate filing will be reviewed by Department of Insurance experts to determine what, if any, rate adjustments are warranted.

If the Department of Insurance and North Carolina Rate Bureau cannot agree on rate changes, there may be a formal hearing during which both parties would present their cases for any rate adjustments.

Written public comments should be emailed to [email protected] or mailed to: NCDOI, Attn: Bob Mack, Property & Casualty Division, 1201 Mail Service Center, Raleigh, NC 27699-1201.

As of Monday, the state Department of Insurance had received more than 2,000 emailed or mailed written comments.

The filing is available for public review on the Department of Insurance website. To view the entire filing, go to http://pserff.ncdoi.net/pc.html and enter the Serff Tracking Number NCRI-129361028.