North Carolina News

My New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Child Welfare Organizations Market Detail: Markel Insurance Co. offers agents access to a program for …

Keystone Insurers Group Realigns Top Management

Northumberland, Pennsylvania-based Keystone Insurers Group has hired five new executives and restructured its top management team in a move aimed at boosting growth and enhancing services, the company said. Ralph Sitterson, previously vice president of claims at Berkley-Mid Atlantic Group, …

Massachusetts AG, Insurer Reach Settlement on Policy Plans

Massachusetts Attorney General Martha Coakley and a North Carolina insurance company have reached a settlement barring the company from using what Coakley described as unfair ratings practices. Occidental Fire and Casualty Insurance Co. has filed a rating plan to begin …

North Carolina Challenges 1.4% Auto Insurance Rate Hike

A 1.4 perent rate hike requested by North Carolina auto insurance companies is being contested by state officials. Insurance department actuaries have concluded that the increase is not warranted in part because it incorporates certain reinsurance costs. Insurance Commissioner Wayne …

Democrats’ Bills Would Create U.S. Financial Product Safety Commission

Democrats in the U.S. House of Representatives Wednesday introduced legislation that would create a financial products watchdog to crack down on unsafe lending practices. Bill Delahunt of Massachusetts and Brad Miller of North Carolina introduced the bill to create a …

Judge Blocks Some North Carolina Beach Plan Price Hikes, Orders Redo

A Wake County judge has ordered new North Carolina Insurance Commissioner Wayne Goodwin to reconsider deductible and surcharge increases for coastal homeowners in the state insurance pool called the Beach Plan. Wake County Superior Judge William Pittman ruled Friday that …

Business Moves

State Farm Fire and Casualty Co. Nevada Insurance Commissioner Scott J. Kipper has approved a rate change for homeowners insurance premiums as filed by State Farm Fire and Casualty Co. The rate change will become effective on April 1, 2009, …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Misc. Medical Malpractice Market Detail: NAS Insurance Services Inc. gives agents the ability to provide …

Mass. AG Questions Insurer’s High Risk Insurance Auto Rates

Massachusetts Attorney General Martha Coakley wants a public hearing to review the auto insurance rates of a new company entering the market in Massachusetts. Occidental Fire and Casualty Insurance Co. of North Carolina is asking to charge Massachusetts drivers rates …

North Carolina Charges Man Involved in 36 Crashes with Insurance Fraud

North Carolina officials have arrested an Indiana man and charged him with allegedly filing more than $10,000 in false claims related to 11 crashes between December 2005 and June 2008. North Carolina Insurance Commissioner Wayne Goodwin announced the arrest of …