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In the News

“NC insurance rules don't need fixing”

Published: Jan. 1, 2013
The complete article can be found here: Asheville Citizen-Times

Let’s see if we have this right. North Carolina has either the eighth-lowest or fifth-lowest auto insurance rates in the nation, depending on which survey you use. Average premiums have fallen 3 percent since 2006. Even so, the business is profitable for insurers. Therefore, according to several major insurers, the system must be changed to benefit the consumer.

The insurers’ group — led by State Farm, Allstate, Geico and Progressive — claim the present system is unfair because good drivers are subsidizing bad drivers. However, it’s easy to wonder if their real motivation is displeasure with a state system that requires companies to propose industrywide rate changes that can be challenged by the Insurance Department.

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