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 reports.
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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