N.C. Realtors® applaud legislators for insurance reform bills

March 10, 2015

 

Raleigh – Flanked by legislators and Insurance Commissioner Wayne Goodwin, North Carolina Association of Realtors® President Tony Smith asked General Assembly members to support homeowners insurance reform bills filed today in the House and Senate.  Senators Bill Cook (Washington), Harry Brown (Jacksonville) and Fletcher Hartsell (Concord) sponsored SB 208, and Representatives Chris Millis (Hampstead), David Lewis (Dunn) and Mike Hager (Rutherfordton) sponsored HB 182.  

 “NCAR has worked for years toward a goal of keeping homeowners insurance available and affordable for working families,” said Smith.  “These bills already enjoy statewide support.  Now it’s time for the state to pass meaningful insurance reform.”

Raleigh-area homeowner Emily King, speaking on behalf of the North Carolina Homeowners Alliance, reinforced Smith’s comments. 

“As a homeowner, my family feels the direct impact of any increase in our homeowner’s insurance,” said King.  “This bill will allow for more fair and equitable insurance rates to help North Carolina families in a still recovering economy.”

The bills alter how insurers calculate rates and give the Insurance Commissioner the flexibility to lower rates.  Sen. Cook explained that the bills provide insurers with a “more efficient mechanism for responding to catastrophic losses.”  Smith said that consumers need these measures to guarantee accountability and transparency.

“NC REALTORS® and Homeowners Alliance grassroots volunteers are on standby,” said Smith. “The homeowners of this state are looking to our legislators for leadership on this issue.  I ask that legislators follow the example of the bill sponsors and pass this needed reform.”