North Carolina Insurance Commissioner Delays Hearing on Proposed Dwelling Rate Hike Amid Compromise Talks
North Carolina Insurance Commissioner Mike Causey has postponed a hearing on proposed dwelling insurance rate increases, originally scheduled for May 4, to July 6. This decision comes as the Department of Insurance and the North Carolina Rate Bureau are reportedly making progress towards a settlement. The Rate Bureau has proposed a significant rate hike, with an average increase of 28.5% effective July 1, 2026, followed by another 31% increase on July 1, 2027, totaling a 68.3% rise. Historically, such proposed increases have been reduced through negotiations. The last major filing in July 2023 saw a proposed 50.6% increase, which was negotiated down to an 8% average increase. The upcoming hearing will take place at the insurance department's office in Raleigh if a settlement is not reached by the new date. 
