The North Carolina Department of Insurance and the National Association of Insurance Commissioners (NAIC) today reiterated that Congress should immediately reauthorize the National Flood Insurance Program (NFIP) prior to expiration on Sept. 30. Reauthorization would help avoid short-term extensions and program lapses that create uncertainty in the insurance, housing and lending markets.
According to NC Insurance Commissioner Mike Causey, the numbers show North Carolina’s captive insurance program is continuing to grow and prosper in North Carolina’s favorable business environment.
“Our captive insurance program has made even greater strides in the last year,” said Commissioner Causey. “Businesses from all over are finding that our state’s thorough but fair regulation is a plus when it comes time to choose a jurisdiction in which to domicile a captive insurance company. The future for the captive insurance industry in our state couldn’t look brighter.”
Insurance Commissioner Mike Causey awarded the Order of the Guardian to Brenda Foss on June 30, 2017, for serving 51 years in the insurance industry in North Carolina.
“Brenda Foss has been an exemplary representative for the insurance industry for over half a century and I am so pleased to present her with the first Order of the Guardian,” said Causey. “Choosing Brenda to receive this award was easy because of her focus, attention and care for every single customer.”
Insurance Commissioner Mike Causey today announced the arrest of Eric Deandre Hall, 32, of 7011 Page St., Saratoga; he is charged with one count each of insurance fraud and attempting to obtain property by false pretense.
Department of Insurance criminal investigators accuse Hall of fraudulently claiming he was injured in an automobile accident that occurred on April 4, 2017, to receive medical payment from United Services Automobile Association. Investigators allege Hall was not in the vehicle at the time of the accident.
Insurance Commissioner Mike Causey today announced the arrest of Brenda Spruill Rascoe, 44, of 202 West Saluda Hall Road, Ahoskie; she is charged with one count each of insurance fraud and obtaining property by false pretense.
Department of Insurance criminal investigators accuse Rascoe of fraudulently claiming her vehicle caught fire with Allstate Insurance Company and obtaining a rental car that cost $899.43. Investigators allege Rascoe intentionally set the fire.
Rascoe was arrested on June 13 in Hertford County and was placed under a $2,000 bond.
Insurance Commissioner Mike Causey today announced the arrest of Archie Holmes, 72, and Laura Holmes 37, of 8220 Buffalo Road, Smithfield; each is charged with one count of insurance fraud.
Department of Insurance criminal investigators accuse Archie Holmes and Laura Holmes of stating fraudulent facts to Hartford Accident and Indemnity Company to support an automobile claim. Investigators allege Holmes and Holmes made statements containing false and misleading information during a recorded interview.
Insurance Commissioner Mike Causey announced the signing of a settlement agreement with the North Carolina Rate Bureau in response to the Rate Bureau's Feb. 1, 2017, request for a 13.8% increase in auto insurance rates. The North Carolina Department of Insurance agreed to a lower average increase of 2.2% - a savings of more than $1 billion for NC consumers over two years.
Insurance Commissioner Mike Causey today announced the arrest of David Maylon Pickett, 59, of 705 Queen St., Grifton; he is charged with one count each of embezzlement and exploitation of an elder.
Department of Insurance criminal investigators accuse Pickett of deceiving an elder adult to obtain funds, assets and property in the amount of $2,957.00 on March 24, 2017. Investigators allege Pickett knowingly embezzled, misapplied and converted Yvonne S. Parnell’s property for his own use.
Pickett was arrested on May 25 in Wayne County and placed under a $100,000 bond.
Insurance Commissioner Mike Causey today announced the arrest of John Nicholas Kostandin, 50, of 5083 NC 56 Hwy, Franklinton; he is charged with one count each of insurance fraud and attempting to obtain property by false pretense.
Department of Insurance criminal investigators accuse Kostandin of filing a fraudulent claim for hail damage to his automobile with GEICO Indemnity Insurance Company. Investigators allege the claim was a duplicate and the original claim was paid in April 2016.
Kostandin was arrested on May 25 in Franklin County and placed under a $5,000 bond.
Insurance Commissioner Mike Causey today announced the arrest of Sharon Antwawn Bullock, 34, of 121 Enchanted Forest Drive, Warrenton; he is charged with one count each of insurance fraud and obtaining property by false pretense.
Department of Insurance criminal investigators accuse Bullock of claiming his car was stolen and crashed to receive insurance payment from National General Insurance Company. Investigators allege the vehicle was never stolen and Bullock was driving the vehicle at the time of the crash.
