RALEIGH, N.C. – A hearing has been scheduled to discuss the proposed 22.6% increase in car insurance rates in North Carolina.
Mike Causey, the state’s Insurance Commissioner, confirmed that the hearing will take place at 10 a.m. on September 22nd in Raleigh.
The North Carolina Rate Bureau has requested the proposed rate hike, which would significantly affect car insurance costs for drivers in the state.
“We do not agree with the proposed rate increases filed by the Rate Bureau on February 3rd. The next step, as required by law, is to schedule a hearing,” said Commissioner Causey in a press release. “The goal of the hearing is to find a fair solution that benefits both North Carolina residents and the insurance companies involved.”
Before the hearing, both the North Carolina Department of Insurance and the Rate Bureau can still negotiate a settlement.
According to the law, Commissioner Causey has 45 days from the date of the hearing to issue a decision. If the Rate Bureau disagrees with the final decision, it can appeal the order to the State Court of Appeals, and if necessary, to the North Carolina Supreme Court.
The hearing will be held at the North Carolina Department of Insurance, located at 3200 Beechleaf Court in Raleigh. The meeting will take place on the second floor, in Room 211, at 10 a.m.
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