Property-casualty industry representatives are expressingconcern about mandated auto premium reductions in NorthCarolina.

Earlier this month, Commissioner Jim Long signed an orderrequiring a 2.5 percent reduction in private passenger auto ratesand a 6 percent reduction in motorcycle liability rates, effectiveMay 15.

David Reddick, senior state affairs manager for the NationalAssociation of Mutual Insurance Companies, said the reduction"continues to make North Carolina a tough state for auto insurersto manage their risks and get any return on investment."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.