Insurance company bundling raising concerns in NC |
Written by Bruce Ferrell/David Horn
|
Monday, 05 March 2012 10:54 |
(RALEIGH) -- North Carolina's Insurance Commissioner said that companies are within their rights to discontinue auto insurance policies for customers who do not also have a homeowners policy with them. Commissioner Wayne Goodwin said that it is a business decision, but he has been hearing complaints about the issue.
"I anticipate that the legislature, because of the increased use of this practice by insurance companies, are going to probably look into it more formally. I believe New York, for example, has either forbid it or has put some restrictions on it," said Goodwin.
He added that his office is working with consumers who may be impacted so-called "bundling" by an insurance company. He said they want to make sure consumers have the coverage they need.
|
Last Updated on Thursday, 08 March 2012 00:00 |