The state Department of Insurance's proposal to raise fees it collects from insurers and other businesses it regulates won't win many fans among companies or consumers.
The state Department of Insurance's proposal to raise fees it collects from insurers and other businesses it regulates won't win many fans among companies or consumers.
In response to Gov. Bev Perdue's recent request for suggested budget cuts, agency officials instead recommended increasing various fees that it collects from insurers, agents, adjusters and others licensed to do business in North Carolina. Other state agencies also have resisted proposing cuts (Read the full N&O report here).
But insurers would oppose any effort to raise their costs. If the DOI wants to raise fees that are passed along to consumers, it would need to fully disclose that intention, said Jennifer Cohen, executive director of the Insurance Federation of North Carolina.
"We wouldn't want consumers to think insurance companies were simply jacking up their rates to make more profit," Cohen said. "People are struggling with job issues and debt issues. Consumers will be very much opposed to letting the state balance the budget on their backs."

Thanks to "providential" timing, N.C. Insurance Commissioner Wayne Goodwin was the center of attention at the White House today.