Eastern North Carolina Supporting Wayne Goodwin

With endorsements from newspapers in Elizabeth City, Greenville and Wilmington -- and with his not approving two insurance rates hikes that would have disproportionately affected the coast -- it would appear that Eastern North Carolina will lean toward re-electing Wayne Goodwin as the state's Insurance Commissioner.

Meet Insurance Commissioner Goodwin at Upcoming Fundraisers in Raleigh, Asheville, Greensboro

You are cordially invited to the

2nd ANNUAL FALL FUNDRAISER for

NC INSURANCE COMMISSIONER WAYNE GOODWIN

Monday, Sept. 27, 2010
5:30-7:30 pm

Marriott Center City – Downtown Raleigh
Next to Convention Center

Sponsor Levels: $1000 - $500 - $250

General Admission: $100/person

If you're unable to attend, then please consider an online donation of $50 or $25 instead to help Wayne reach his campaign's fundraising goal for the year.

Make your individual personal check or PAC check out to:

The Goodwin Committee
P.O. Box 27841
Raleigh, NC 27611

Or, you may present it at the reception registration table. No corporate, lobbyist, insurance company/insurance industry, or business checks.

Or, you may contribute securely online by clicking here.

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If you cannot attend in Raleigh, you are cordially invited to the

Western North Carolina Salute to

NC INSURANCE COMMISSIONER WAYNE GOODWIN

Monday, Oct. 11, 2010
5:30-7:30 pm

Renaissance Hotel – Downtown Asheville - 31 Woodfin Street

Sponsor Levels: $1000 - $500 - $250

General Admission: $100/person

If you're unable to attend, then please consider an online donation of $50 or $25 instead to help Wayne reach his campaign's fundraising goal for the year.

Make your individual personal check or PAC check out to “The Goodwin Committee”.

Please either return your check by mailing it to
P.O. Box 27841, Raleigh NC 27611 or presenting it at the reception registration table. No corporate, lobbyist, insurance company/insurance industry, or business checks.

Or, you may contribute securely online by clicking here.

For more information, go to www.waynegoodwin.org or call (910)997-1301.

Take either opportunity to meet our State's Commissioner of Insurance.And, please spread the word among fellow professionals, friends, and supporters.

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Less than three weeks earlier, supporters of Insurance Commissioner Goodwin will host a Triad Area Fundraiser Reception in Greensboro on September 23rd. For details, please go to this link here.

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Paid for and authorized by The Goodwin Committee. Not paid for by government funds or resources. This campaign committee shall NOT intentionally solicit and shall NOT accept contributions from NC lobbyists or insurance industry PACs. If any such person or entity receives notice of this event then it is for information only or is to be completely disregarded.

Insurance Commissioner Goodwin: NCDOI Awarded $1 Million Grant

Monies Will Be Used to Bolster Consumer Outreach, Rate Reviews, Better Government

North Carolina has been awarded a $1 million grant from the federal government, and NC Insurance Commissioner Wayne Goodwin and his Department team are anxious to use it for enhanced consumer outreach and consumer participation in the review of rate filings by health insurers.

"A little over a month ago, our staff submitted the premium review assistance grant to the federal government. I am pleased that North Carolina was approved for this funding," said Commissioner Goodwin. "The Department of Insurance has a lot of work ahead of us to implement the new federal health care reform initiatives. We will use this federal funding to review our existing procedures, hire new staff and improve consumer outreach specific to approving rate changes to health insurance plans."

Furthermore:

The Department's grant application identified the following measures to improve the rate review process in North Carolina:

Seek outside review of actuarial processes to determine areas of improvement in the process.

Seek additional authority to expand prior rate approval to small and large employer group health and association group health plans via the N.C. General Assembly.

Hire additional staff to accommodate increased rate filings and their review.

Increase transparency and accessibility:

Improve the access and readability of rate filings that are currently posted on the Department's website.

Seek authority via the N.C. General Assembly to require insurers to create consumer-friendly summaries and increased public information for rate filings.

Seek input and consider planning for public comment and public hearings on rate requests.

To learn more, go to this link.

"Not only is this news about 'good government,' it's about better government," said Insurance Commissioner Wayne Goodwin.

NC Insurance Commissioner Goodwin, Dept of Insurance Receive National Praise for Coastal Insurance Approach

Recognized as One of Top 3 States to "Get Heads Out of the Sand" and Best Prepared for "the Big One," the next major hurricane hit

Following up on recognition from business, industry, consumer, and political leaders across the United States and especially in the Southeast over the last year, NC Insurance Commissioner Wayne Goodwin and his team of experts received yet another dose of praise this week for their hard on coastal insurance reforms.

In particular, John Lobart penned:

The trade and mainstream press will soon be filled with articles commenting on the five-year anniversary of Hurricane Katrina—the largest insurance event in history and certainly one of the deadliest. Rather than look at the accumulated statistics, I thought it would be interesting to ask the question, “Have the Atlantic and Gulf Coast state insurance markets prepared for the next big hurricane?”

Looking back over the past five years, Mississippi, North Carolina, and South Carolina get my vote as states that are clearly better prepared to handle the Big One then they were five years ago. ...

North Carolina pulled its head out of the sand and tackled beach plan reform in 2009. Then newly elected Insurance Commissioner Wayne Goodwin made it clear that it would not be business as usual as it had been under long-time Commissioner Jim Long. Commissioner Goodwin and his staff worked diligently on a beach plan funding compromise guaranteed to make everyone unhappy—and that’s a good thing. The 2009 reform effort included reducing available limits in the Beach Plan (to throw out the wealthiest homes), providing for a huge (but consistently predictable) nonrecoupable assessment upon insurers to fund Beach Plan shortfalls, and providing for surcharges on policyholders statewide if needed to fund the most devastating losses. This last provision was certainly a hard one to sell (especially for an elected Commissioner). But for a state where coastal tourism benefits the entire state, it’s fair. The North Carolina reform law also puts pressure on the Beach Plan board to maintain adequate reinsurance, arguably the number one factor in bringing confidence to the private market as a well-funded residual market significantly reduces the likelihood of post-loss assessments.

Lobart is a legislative and regulatory affairs lawyer whose firm, Lobert Legislative & Regulatory Consulting, provides public policy advice.

"Ultimately," said Commissioner of Insurance Wayne Goodwin, "we have better protected consumers on the coast and beach of the State while preventing a massively unstable insurance market in North Carolina. Doing nothing was not an option, but doing something was not going to be pain-free. We are better prepared, and have enacted mitigation credits, a fairer system that protects the whole state, and a set of reforms that were long overdue."

Through Goodwin's leadership, insurance rates in North Carolina on homeowners' insurance - as well as automobile and workers comp - have remained some of the very best in the nation, especially in the South.

Further, Goodwin has also made a strong policy of greater transparency and public participation in the process of insurance regulation in the Tar Heel state.

Leadership, competence, consumer protection, transparency, public participation, and fair ratemaking are pillars in the Goodwin administration.

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Photo: courtesy NOAA.

Commissioner Wayne Goodwin Orders Increased Mitigation Credits for Homeowners Insurance along the Coast

Commissioner Orders Insurance Companies to Pay Much Larger, Pro-Consumer Credits for Carolina Homeowners.

Insurance Commissioner Wayne Goodwin today announced that he has ordered a schedule of mitigation credits for qualifying homeowners insurance policies in North Carolina’s beach and coastal territories. The credits will be effective May 1, 2011 and apply to policies written in the voluntary market and the Beach Plan within the 18 coastal counties. The credits stem from a N.C. Rate Bureau filing required by the 2009 enactment of H.B. 1305 which sought to reform coastal property insurance.

“I’m proud that the Department’s review of the initial filing resulted in larger credits for coastal homeowners than those originally requested,” said Commissioner Goodwin. “Every dollar is important in today’s economic climate, and we wanted to make sure that homeowners will see discounts for the upgrades they have in place to protect their homes.” Homeowners with questions about whether or not their homes qualify for credits should contact their insurance agent and/or company, Goodwin added.

The approved mitigation credits will provide premium discounts for wind and hail coverages on homes with qualifying construction features that help mitigate damage and insurance losses. Different credit levels are available depending on a home’s mitigation qualifications. (Some details are found at the Insurance Journal and the Wilmington Star-News linked here.)

According to the filing language, the largest credits available are for homes that are built in compliance with the Institute for Business and Home Safety (IBHS) Fortified New category. IBHS has three additional levels for which a home can be certified for mitigation credits: gold, silver and bronze. Within each of these three levels, credits will depend upon certain roofing standards. In addition to IBHS standards, there will be credits for homes built or retrofitted with certain mitigation features including engineered window shutters, a hip roof or a combination of both.

The charts linked here and also on the Department's website show sample wind and hail premium credits (in dollars) for qualifying mitigation efforts taken on a home valued at $150,000. The first chart shows what the NCRB filed, the second chart shows what the Department of Insurance ordered, and the third chart shows the percentage increase from the initial credits filed to the final credits ordered.

The N.C. Rate Bureau will be establishing standards for certifying homes in accordance with the mitigation credit schedule over the next several months and communicating with insurance carriers and agents, who will relay the process to their policyholders. To determine what credit level for which a home might qualify, consumers should contact their insurance company and/or agent or review the IBHS website.

"This is yet another example of your Department of Insurance working for you, the homeowner," said Goodwin. "Though no written objections were received by the Department to the initial public filing made by the Rate Bureau, it was important to me as our Insurance Commissioner that the maximum justifiable credits be granted - thus, I ordered a larger credit. This is in line with how I've ordered refunds and rate cuts in other lines of insurance purchased by North Carolinians."

The Insurance Commissioner also stated that it was important to approve the best credits possible now and not allow delays because that would have caused homeowners to go without the credits for another hurricane season.

Insurance Commissioner Goodwin Rallies Duplin County Democrats During Eastern NC Visit

Insurance Commissioner Wayne Goodwin was the keynote speaker for the Duplin County Democratic Party county convention on April 12 in Kenansville.

Appearing in the historic county courthouse, Goodwin informed and inspired and regaled with humorous anecdotes as he spoke not only about his official duties but the civic obligations every voter has.

"We need to tune in to what's going on around us, turn up the volume, and turn out the vote," said Goodwin, a member of North Carolina's Council of State.

State Representative Russell Tucker introduced the speaker to the group of eastern North Carolina Democrats.

Also attending were State Senator Charlie Albertson, Districy Attorney Dewey Hudson, and other local officials and a diverse group of citizens.

As he concluded his remarks, Goodwin said "I was going to say I've got to get 'On the Road Again' back up to Raleigh but seeing how Willie Nelson fared in this county the last time he was here, I'd better not!" This aside to the classic Nelson song was a reference to a very recent event where renowned country singer Willie Nelson's band was charged with possession of marijuana and moonshine while in Duplin County for a concert. The reference appeared to evoke the most laughter from District Attorney Hudson, who is prosecuting the case.

Insurance Commissioner Goodwin: NC Has the Lowest Auto Rates in the South

"We're the Largest State in the Whole Country with the Lowest Insurance Rates," He Says

Insurance Commissioner Wayne Goodwin today announced that North Carolina drivers pay an average of $591.11 each year for auto insurance, the 8th lowest in the country and the lowest in the South according to a report from the National Association of Insurance Commissioners (NAIC).

"I'm pleased that North Carolina remains one of the most affordable states in the country for auto insurance and definitely the best value in the southeast," said Commissioner Goodwin. "This ranking comes just a few months after I signed a settlement that rolls back auto insurance rates to 2006 levels, freezes them until at least 2011, and gives approximately $50 million back to many North Carolina drivers in the form of refund checks."

It's important to note that North Carolina is the most populous state among the 10 states with the lowest auto rates. The top 10 states with the lowest auto insurance rates are:

1. North Dakota
2. Iowa
3. South Dakota
4. Nebraska
5. Idaho
6. Kansas
7. Wisconsin
8. North Carolina
9. Maine
10.Indiana

Contributing to North Carolina's low auto insurance rates is the state's unique ratemaking process; North Carolina is one of the only states to negotiate standardized, across-the-board rates for all companies, depending on territory. The rate set by the Insurance Commissioner is the cap, and companies writing traditional policies can only deviate from this rate by offering discounts. As a result, most drivers enjoy some sort of discount.

Commissioner Goodwin added, "this good news for North Carolina families and businesses is especially welcome in these challenging economic times."

The NAIC report compares the costs of personal automobile insurance in all 50 states and the District of Columbia, based on 2007 data. North Carolina's neighboring states rank as follows: Tennessee:14th; Virginia: 17th; South Carolina: 30th; Georgia: 31st.

"There should be no question about it: Considering this news and my announcements about recovering $20 Million for consumers in 2009 and saving NC drivers $545 Million over the next two years, North Carolina's Commissioner of Insurance and its Department of Insurance fight strongly everyday to protect consumers with fair ratemaking," added Goodwin.

Goodwin Meets With 300+ Eastern NC Leaders, State Safety Experts and Law Enforcement Officers

During an action-packed series of meetings and speeches over two days last week, state Insurance Commissioner Wayne Goodwin met with 300-plus eastern North Carolina leaders, state safety experts and law enforcement officers. Carteret and Craven counties served as the host locations.

In Atlantic Beach he first delivered remarks to the Safe Kids North Carolina statewide annual meeting. (Goodwin serves as chairman of the association.) He and Safe Kids NC officers presented awards for outstanding leadership by county chapters and coalition members. Here at this link are some photographs from the conference.The next day, the Insurance Commissioner addressed sheriffs' deputies, highway patrolmen, police officers, firefighters, and volunteers at the North Carolina Child Passenger Safety Conference. With the theme of "Making a Difference in a Child's Life," the group covered a wide variety of conference topics and reviewed current related laws. Sponsoring this year's conference were the Office of State Fire Marshal, the NC Department of Insurance, the Governor's Highway Safety Program, UNC Highway Safety Research Center, and others.

Insurance Commissioner Goodwin then followed up with a New Bern luncheon with business and community leaders. Young insurance professionals and independent agents welcomed him, and learned from the regulator first-hand the consumer protections he and NCDOI are providing eastern North Carolina and the rest of the State. They were also reminded how the Tar Heel state benefits tremendously from some of the lowest automobile insurance rates and homeowners' insurance rates (whether coast, piedmont, or mountains) compared to most similar states.

Those in attendance further heralded the good government initiatives of Commissioner Goodwin, stressing his and NCDOI's accessibility and their unwavering commitment to public participation, transparency, and prompt constituent service.

"It's always a pleasure to travel across beautiful eastern North Carolina, and to join together with partners dedicated to public safety and consumer protection," said Insurance Commissioner Goodwin.

The Merits of an Elected State Insurance Commissioner

Sean Carr of A.M. Best recently interviewed me and a number of my fellow elected state Insurance Commissioners from around the country.

Among my comments were:

“Having independence from a governor, or having independence from whomever would make an appointment, is vital,” said North Carolina Insurance Commissioner Wayne Goodwin. The first-term Democrat said having an elected commissioner “is an extra level of consumer protection.”

Check out the rest of his article by linking here or by going to this site sponsored by Texans for Insurance Reform.

More than ever as Americans debate the need for appropriate regulation of insurance and how to contain medical costs and stave off any and all unnecessary insurance premium hikes proposed by the insurance industry, having an elected Insurance Commissioner keeps the pulse of the people plugged into the process. In many states where the position is elected you see some of the best rates and some of the strongest consumer protections and stable markets.

Having an elected Insurance Commissioner also prevents an insurance industry executive or anti-consumer maven from appointment by a hypothetical governor seeking to please gubernatorial contributors or supporters.

Keep in mind, too, that North Carolina - historically and through this day - has zealously opposed centralized authority. This fact explains why it took two hundred years before a Governor could seek re-election and serve eight years, and why it took even longer for a Tar Heel governor to have veto authority, and why for many, many years the citizens of this State have demanded the right to vote on as many statewide offices as possible on our long ballot.

Just as I see it for Insurance Commissioner, having these elected positions is another level of protection for consumers and taxpayers.

Our job, as citizens, is to make sure we know as much as we can about the candidates and the key issues. That duty is incumbent upon every one of us if we believe in representative democracy.

Keeping an elected Insurance Commissioner in North Carolina is right, good, and historically sound for our people.

State Fire Marshal Predicts (Sort of) Winner of Powerball Lottery

Insurance Commissioner Wayne Goodwin - who also serves as State Fire Marshal - delivered morning remarks to an audience of fire safety educators and firefighters in Asheville, North Carolina on Monday morning. Little did he know that those remarks would prove quite prophetic.

Given how early the breakfast meeting had begun, Commissioner Goodwin reflected on the good-sized crowd that had still chosen to show up.

But he then added:

"And if you know of someone who's missing from here or from work today here in Asheville, then there's a good chance that he or she has won the lottery." (paraphrase)

Later that afternoon, members of the Association and Asheville firefighters were all abuzz when the news broke: a retired Asheville firefighter had, in fact, won more than $141 million in the Powerball lottery and he'd just appeared at a press briefing in Raleigh with state lottery officials.

When Goodwin learned the news while en route from a Monroe luncheon speech and recalled his comment earlier in the day, he wondered: "Maybe I should have predicted two other unlikely events ... world peace, or, that the Chicago Cubs would finally win a World Series after 102 years!"

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P.S. If there is anyone who is deserving of a lottery prize, it is a firefighter. After all, these hometown heroes protect our families, our homes, and our businesses, very often as volunteers for many years.

Goodwin Continues Helping Eastern North Carolina Senior Citizens

Insurance Commissioner Wayne Goodwin this week traveled to southeastern North Carolina to spread his message about the Relay for Extra Help initiative.

Speaking before a crowd of approximately 300 citizens packed into the Whiteville train depot, Goodwin stressed how senior citizens in the Cape Fear region and throughout eastern North Carolina were likely part of the 80,000 residents of the state eligible for subsidies and discounts for their prescription drugs and health care.

WECT-TV Channel 6 of Wilmington had this to say:

WHITEVILLE, NC (WECT) – The cost of prescription drugs will soon be dropping for many resident living in Columbus County. ... Qualifying senior citizens can receive up to 25 percent off their total cost of healthcare and prescription drugs thanks to the Relay for Health bill. ... "A lot of our seniors can't get all their prescriptions every month because they don't have the monetary gains do that," said Ed Worley, director of Department of Aging. "This will help encourage them to get all of their prescriptions as well as coverage of insurance." ...
North Carolina's Insurance commissioner Wayne Goodwin says many counties do not take advantage of the Relay plan, because they do not know about it.

And, of course, that's why the Commissioner and his partners are on the road spreading the gospel of the beneficial program.

Other speakers explained how to enroll and stressed how to avoid being defrauded by scammers.

Insurance Commissioner Wayne Goodwin underscored his rock-solid commitment to senior citizens, protecting consumers of all ages, and being accessible and active on behalf of eastern North Carolina.

The program is a partnership between the Seniors' Health Insurance Information Program and area councils on aging.

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Photographs courtesy of Herb Harp Photography of Fair Bluff, NC.