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Archive for January, 2009

Bill Introduced to Temporarily Stop Insurance Increase

Thursday, January 29th, 2009

Senator Julia Boseman introduced a bill to the N.C. General Assembly on Wednesday that would temporarily holt the increases to insurance deductibles and rates for local homeowners as well as the wind and hail incsurance covered by the Beach Plan.

If inacted, the bill would delay the increases from taking place until May 1, 2011 instead of them taking affect¬†this Sunday (February 1, 2009) . “We have to do what we can do in tough economic times to keep insurance affordable… the increases are completely unreasonable,” said¬†Boseman during an interview with the Star-News.¬†

REALTORS¬ģ and others associated with the real estate industry have been¬†heavily against this insurance increase from the beginning and most certainly want¬†to see this bill passed for the sake of local homeowners and housing market.

The New Hanover County Commissioners voted last week to join the lawsuit filed originally by Dare County and other local area governments will be deciding to join or not soon.

The N.C. Department of Insurance has scheduled hearings today in Raleigh regarding the lawsuit and these rate increases.

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