North Carolina Insurance Commissioner Mike Causey easily won the Republican primary for reelection to the post this week, but the Democratic nominee wasted little time in blasting Causey for postponing a rate hearing.
State Sen. Natasha Marcus, D-Salisbury, won 77% of the votes in the Democratic primary Tuesday. Just two days later, she criticized Causey’s decision to reschedule a hearing on a 50.6% proposed rate increase on dwelling insurance in the state, arguing the incumbent is hoping to negotiate with insurer interests behind the scenes, according to news .
The hearing had been set for April 8. Causey, seeking a third term as commissioner, said this week that the forum had been rescheduled for July 22.
The postponement is not unusual in North Carolina’s rate-making system. The state Rate Bureau, using data from property insurers in the state, recommended the 50% average DP-3 rate hike. In most rate increase proposals in recent years, the commissioner has negotiated with the Bureau and arrived at much smaller increases.
The Bureau also has called for a 42% average rate increase on HO policies. A hearing on that has been set for Oct. 7, just a month before the general election.
Topics North Carolina Politics
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