Insurance Commissioner Mike Causey announced today that Friday Health Plans of North Carolina Inc. (FHP-NC) was placed into receivership, effective July 16, to protect North Carolina policyholders. Liquidation of FHP-NC will occur Sept. 1.
FHP-NC policyholders must choose a new exchange health insurance plan by Aug. 31 to avoid a gap in health insurance coverage.
The North Carolina Rate Bureau has requested a 50.6% statewide average rate increase for dwelling policies.
The Rate Bureau represents the insurance companies in the state and is not a part of the N.C. Department of Insurance.
The Rate Bureau filed the proposed increase with the Department of Insurance on July 13. The request would take effect on June 1, 2024.
The N.C. Department of Insurance has ended its legal dispute with the North Carolina Rate Bureau on its proposed insurance rate increase for Mobile Home - F (MH-F) policies and Mobile Home -Casualty (MH-C) policies, averting a potentially costly administrative battle with insurance companies.
North Carolina Insurance Commissioner Mike Causey has set Oct. 16 as the hearing date for the North Carolina Rate Bureau’s proposed 28.4% auto insurance rate increase.
“We are not in agreement with the Rate Bureau’s proposed increases filed on Feb. 1. The next step, according to statute, is to set a hearing date,” said Commissioner Causey. “The purpose of the hearing is to reach a resolution that will make the most financial sense for both North Carolina residents and insurance companies.”
North Carolina Insurance Commissioner Mike Causey, who also serves as the State Fire Marshal, will announce the new insurance rating for the Faith Fire Department in Rowan County on Tuesday, April 11.
North Carolina Insurance Commissioner Mike Causey, who also serves as the State Fire Marshal, will announce a new insurance rating for the Hendersonville Fire Department in Henderson County on Thursday, April 6.
The announcement will take place at 1 p.m. at the Hendersonville City Operations Center, 305 Williams St., Hendersonville, N.C. 28792.
North Carolina Insurance Commissioner Mike Causey, who also serves as the State Fire Marshal, will announce a new insurance rating for the Kill Devil Hills Fire Department in Dare County on Wednesday, April 5.
The announcements will take place at 6 p.m. at the Kill Devil Hills Town Hall, 102 Town Hall Drive, Kill Devil Hills, N.C. 27948.
Insurance Commissioner Mike Causey today announced that the North Carolina Rate Bureau has submitted a rate filing with the N.C. Department of Insurance, requesting an increase for auto policies.
In the filing, the bureau has requested an overall average statewide increase in private passenger auto insurance rates of 28.4 percent, which would become effective on October 1, 2023.
The N.C. Department of Insurance has ended its legal dispute with the North Carolina Rate Bureau regarding the bureau's proposed 42.6% dwelling rate increase, averting a potentially costly administrative battle with insurance companies.
After studying the data, Insurance Commissioner Mike Causey negotiated a statewide average increase of 9.9%, which is 32.7 percentage points lower than the Rate Bureau requested.
The North Carolina Rate Bureau has filed a request with the N.C. Department of Insurance to increase insurance rates for mobile home policies.