Insurers want 18.7 percent more to cover your home — more if you live in the Triangle
The increases vary by territory with coastal communities as usual seeing the highest increases. The highest increases would be in parts of
Homeowners in
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Barry Smith, a spokesman with the
"Just because there's a request doesn't mean there will be that much of an increase or an increase at all," he said. "In the past, we have negotiated for either no increase or a lower increase."
He said the agency will take into account the effect of hurricanes on how much insurance companies have to pay out, and will evaluate how to best ensure competition in the industry.
The last time the Bureau asked for an increase was in 2014 when it requested an average increase of 25.3 percent. After a homeowners insurance hearing, then-insurance commissioner
In 2012, the industry sought an average increase of 17.7 percent and eventually settled at an overall statewide average of 7 percent after negotiations.
If the
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Triple-s Management Corp. Files SEC Form 10-Q, Quarterly Report [Sections 13 Or 15(D)]: (Nov. 9, 2017)
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