For Immediate Release: June 29, 2016
Goodwin Protects North Carolina Consumers and Communities
RALEIGH -- Insurance Commissioner Wayne Goodwin today announced the General Assembly has passed House Bill 287. This legislation, as proposed by Commissioner Goodwin, will save North Carolinians money, fight fraud and protect our communities.
"North Carolinians currently enjoy one of the most affordable and varied insurance markets in the nation," said Goodwin. "House Bill 287 will allow us to continue serving and protecting North Carolina families, property owners and business owners at the high level they have come to expect from the Department of Insurance."
House Bill 287 provides provisions:
- To prevent out of state commercial drivers from fraudulently obtaining NC's low rates
- To cap rate increases on Long Term Care Insurance Policies
- To bring transparency to the Consent to Rate process for homeowners
- To reduce the volunteer firefighter shortage
- To strengthen the penalties for fraud/theft by insurance fiduciaries
"North Carolina auto insurance rates are so low that individuals and companies from other states are actually attempting to obtain our low rates illegally," said Goodwin. "I have added protections to these rates in this bill because low rates are a problem I am always happy to have."
For more information, visit www.ncdoi.com.