(RALEIGH) -- A legislative study committee is looking into questions of how to modernize auto insurance.  Members heard from a group representing consumers saying easing rules regulating auto insurance rates is a good thing.

"The justification for insurance regulation often is lack of competition or concentration and reality is the insurance market, particularly auto insurance, is very unconcentrated. It has everything in place to be very competitive," said Steve Pociask, President of the American Consumer Institute. He added that should competition not be allowed, consumers will suffer through higher prices.

The committee was only hearing presentations on possible modernization of how rates are set.  No action was taken.