NC Rate Bureau requests 28.4 percent increase for car insurance
RALEIGH, N.C. Local Charlotte — North Carolina Insurance Commissioner Mike Causey announced on Thursday that the North Carolina Rate Bureau submitted a rate filing to the North Carolina Department of Insurance to increase auto policies.
The bureau requested a 28.4 percent statewide increase in private passenger auto insurance. It would become effective on Oct. 1.
The N.C. Rate Bureau represents car insurance companies in the state and is not a part of the N.C. Department of Insurance. State law requires the bureau to submit auto rate filings with the department each year by Feb. 1.
Causey stated that he and department staff will review the filing and determine whether or not the requested increase is justified.
The department said that if they do not agree with the requested increase, they can negotiate a settlement or call for a hearing.
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