We are disappointed to hear Commissioner Goodwin’s decision to oppose meaningful regulatory reforms in the state’s auto insurance market.  These reforms are aimed at ending the current government-sponsored price-fixing rate bureau that shields insurance companies from competition.  The proposals he opposes would provide fair rates to good drivers, increase transparency and lower consumer prices through competition.  The current regulatory system requires good drivers to pay higher insurance premiums in order to lower the premiums of risky drivers.  This, in turn, raises industry costs, which are passed along to consumers as hidden fees that are baked into insurance premiums.  Based on a survey, 80% of North Carolina drivers said they opposed regulations that require good drivers to pay higher car insurance premiums so that risky drivers can pay less.  The Commissioner’s announcement is counter to the views of the consumers he has been entrusted to protect. 


In summary, we are disappointed, but not surprised, that the Commissioner has come out against consumers on this issue, and in defense of the status-quo, protection of insurance companies and opposition to competition.