North Carolina Holds Hearing on Homeowners Insurance Rates

North Carolina’s insurance commissioner held a hearing on a request from companies that want to increase homeowner insurance prices by an average of more than 25 percent in January.

The Fayetteville Observer reported that Insurance Commissioner Wayne Goodwin held the hearing Monday in Raleigh.

Experts from the North Carolina Rate Bureau and the Department of Insurance presented their cases to Goodwin. The bureau represents insurance companies.

More than 10,000 public comments were submitted this past January and 25 people spoke during a hearing held that month.

A news release said Goodwin held the hearing because the proposed rates appear to the Department of Insurance to be excessive and discriminatory.