Homeowners Insurance Decision: Zero Change = $600 Million Savings

It's been a long time since I've posted here but I thought folks would appreciate hearing some (good) news.

Here's a link to the press release and the full Order I issued on Thursday afternoon, plus additional information. This was the first hearing (i.e., trial) on the subject of homeowners insurance in North Carolina since 1992.

And, here is a link to the News & Observer article and a link to WRAL's coverage of the matter.

You may recall that insurance companies sought an increase of 25.6% on average statewide after having received a 7% increase in 2013.

This week's decision has been estimated to save North Carolina homeowners $600 Million. Over the course of two terms as Insurance Commissioner, my team and I have saved folks in excess of $2 Billion.

Betwixt and between all the merriment, eating, traveling, spending, et cetera, of the Christmas holiday season, may this good news add to all the other good news for which we yearn and need.

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Comments

Good news indeed, Wayne

Thanks for looking out for us. Too bad more folks in Raleigh don't take the same approach to protecting the people from industry excesses.

Thank you, Commissioner Goodwin!

A wonderful Christmas present! Our best to you and yours for this holiday season.

Fine work, Commissioner Goodwin!

Please know that all your work on behalf of NC citizens is greatly appreciated. It is all too rare these days to see an NC government official advocating on behalf of consumers and ordinary folks rather than corporate interests.

Merry Christmas!

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"I will have a priority on building relationships with the minority caucus. I want to put substance behind those campaign speeches." -- Thom Tillis, Nov. 5, 2014

Gary Pearce

In addition to my appreciation for your very kind comments, I also greatly appreciate this week's related post by our good friend, Gary Pearce, at his "Talking About Politics" blog. Thank you, Gary! Click here for the link in case you missed it. His surprise post made me want to share it with my family back home so they hear from someone else (besides me!) that all this hard work is making a difference in our state.

Meantime, on a completely separate note, may every reader have the safest, merriest, happiest, most loving-fulfilling-inspiring Christmas holiday season in memory.

I saw that post from Gary

and thought it one of his better commentaries.

In many ways, you are the poster boy (in the best sense of that phrase) for a good-government leader. Honest, hard-working, committed, apolitical, and genuine.

Let us know when you decide to run for governor.