Insurance Commissioner Mike Causey announced the signing of a settlement agreement with the North Carolina Rate Bureau in response to the Rate Bureau’s Feb. 1, request for a 13.8 percent increase in auto insurance rates. The North Carolina Department of Insurance agreed to a lower average increase of 2.2 percent – a savings of more than $1 billion for North Carolina consumers over two years.
Mike Causey, who formerly served as the Director of Government Affairs and Managing Director for the Independent Auto Body Association, was elected Insurance Commissioner in North Carolina in 2016.
“We are pleased that we were able
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