Insurance

Henry B. Moore, Library of Congress via Wikipedia

In the modern financial world, Wall Street is king, but that ascent did not happen without exploitation. In particular, African slaves provided capital for some of the nation's most powerful financial institutions.

A picture of a house with solar panels on the roof.
Gray Watson / Wikipedia

Residential insurance companies want to raise their premium rates by an average of 25 percent. The N.C. Department of Insurance will hold a public hearing on the issue today.

It will be up to Insurance Commissioner Wayne Goodwin to decide whether a rate increase is excessive, inadequate or unfairly discriminatory.

The North Carolina Rate Bureau represents all 150 residential insurance companies in the state. Last year the Department of Insurance and the Rate Bureau agreed to the rates rather than going to a hearing.

The Supreme Court's decision to uphold President Obama's healthcare overhaul sparked a range of reactions across North Carolina.

Tanner Latham: A rally to celebrate the Supreme Court's decision on Obama's healthcare law was held Thursday at Gaffney Health Services on Albemarle Road in East Charlotte.

A report from the state auditor says North Carolina does not have an accurate list of state property. State officials started an investigation this summer to determine whether the state could save money on insurance for its property. But the report says the State Property Office has more than 400 buildings on its list that are not on a list from the Department of Insurance. State Property Office spokeswoman Jill Lucas says they rely on individual agencies to report their inventory.

The North Carolina Department of Insurance will hold a public comment session in Raleigh this morning on possible insurance rate increases. The North Carolina Rate Bureau, which represents all the insurance companies doing business in the state, filed a request to raise rates an average of 20.9 percent for this year. Kerry Hall is a spokeswoman for the Insurance Department.