State Dept. Of Insurance Says Increase Unwarranted

posted by Mark Starling -

The North Carolina Department of Insurance is turning down a requested 13-point-eight-percent rate hike on auto insurance.  

The department called the increase unwarranted.  It was submitted last month by the North Carolina Rate Bureau -- an independent organization that represents all auto insurance companies in the state.  The Department of Insurance announced Friday that it's "reviewed the filing thoroughly and determined a rate hike is not justified."  

A hearing on the issue is planned for mid-September.

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