Insurance rates

Skullduggery was afoot on Monday by one powerful state Senator that would have raised insurance rates on every North Carolina family, driver, and small business. (Yes, on automobiles, homes, workers compensation, businesses, etc., etc.)

Just in case you had not heard about it, Monday was indeed quite the day. In a move reminiscent of a 2007 ploy documented here and here at Wayne's World, it was "back to the future" with an "under cover of darkness" attempt to strip the Insurance Commissioner's authority to (a) control and cap insurance rates, (b) hold public hearings, and (c) otherwise hold accountable the insurance industry and protect consumers.

So what did Insurance Commissioner Wayne Goodwin do in response? He went public to shine light on the shenanigans, conducting an emergency press conference immediately before the Senate committee was going to rubber-stamp the hidden provision. A bevy of TV, radio, newspaper and blogosphere journalists turned out as he revealed what was afoot.

Maybe all you people in the People's Think Tank can help me understand this story about a hike in homeowner's insurance rates.

You may recall a previous entry of mine here on BlueNC regarding SB 901 filed earlier this legislative session. Well, immediate action is needed because the Senate Commerce Committee is scheduled to take up the bill this coming Tuesday, May 22nd at 11 a.m. in Raleigh. ... Democrats control the State Senate and ... there is no reason for Democrats to be voting in favor of this anti-consumer bill on Tuesday morning, May 22.

Dcobranchi asked the right questions earlier this week in response to Tony Rand's puzzling proposals to gut consumer protections against the insurance industry. Wayne Goodwin, Assistant Commissioner of Insurance, weighed in on the issue this morning here at BlueNC.

Now the News and Observer has jumped in with both feet, with a great editorial.

Perhaps Jim Long, North Carolina's insurance commissioner, kicked state Sen. Tony Rand's dog, or scratched the majority leader's shiny new car. Why else would Rand introduce legislation to strip Long of his power to rule on auto, home and workers' comp insurance rates? Or could it be that the insurance industry sought out Rand to scuttle a system that works fine for North Carolina customers -- and, by the way, for the bottom lines of insurance companies operating in the state. The bill is clearly a case of fixing what isn't broke. It should die quietly.