North Carolina went from bad to worse in R Street's annual rankings of state insurance regulation.
Coming in at No. 49 last year in the R Street Institute's Insurance Regulation Report Card, the Tar Heel state dropped to No. 50 and received an "F" grade for the second year in a row.
One negative trend in North Carolina is the growth of residual markets, both in Home and Auto. (A residual market acts as a coverage source of last resort for those who have been rejected by voluntary market insurers.) Lawmakers in Texas also passed legislation that would allow their residual property insurance markets to grow, which contributed to the state's decresed ranking from No. 28 in 2014 to No. 47 this year.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 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.
