For Immediate Release: January 3, 2014

Goodwin's Statement on Homeowners Insurance Rate Request

RALEIGH -- The North Carolina Department of Insurance received a homeowners insurance rate filing from the N.C. Rate Bureau in the late afternoon of Friday, Jan. 3. The N.C. Rate Bureau, on behalf of all companies writing homeowners insurance in the state, has requested a statewide average rate increase of 25.3 percent, varying by territory, with a requested effective date of Aug. 1, 2014.

Insurance Commissioner Wayne Goodwin issued the following statement:

"New homeowners insurance rates went into effect in July 2013. I am appalled that the insurance companies would request another increase just six months later. I believe the insurance companies should withdraw this rate filing immediately. If they do not, the insurance companies should expect a full hearing on this matter; I will not entertain any settlement negotiations. I urge North Carolina homeowners to take advantage of the public comment period and let their insurance companies know what they think about the notion of another homeowners insurance rate increase.

Also, I take offense at the insurance companies' concerted efforts to file this request late on a Friday afternoon, when they think the public won't be paying attention."

--NCDOI--