Insurance Commissioner Goodwin Helps 661 NC Businesses with $6.5 Million

On the heels of saving an estimated $545 Million for North Carolina drivers, and in an unrelated matter, Insurance Commissioner Wayne Goodwin has this week distributed refund checks totalling $6.5 Million to 661 North Carolina businesses who had been swindled. To learn more, connect to this link. This is another example of Goodwin's strong consumer protection ethic. "Whether a driver, a parent, a homeowner, or a small business owner, I am fighting for you," he said.

Public financing of statewide campaigns continues to make the news

Readers of "Wayne's World" may be interested in three columns about optional public financing as a campaign finance reform that also referenced my 2008 Insurance Commissioner race.

One of them is an op-ed piece I authored that ran in multiple newspapers statewide, including The Pilot of Southern Pines. For a presentation of my essay that includes video commentary and supporting links, go to this specific Voter Update link here, sponsored by the N.C. Center for Voter Education.

The other is by Chase Foster of N.C. Voters for Clean Elections that appeared in multiple formats, including here at this link. The full version of his article is at this separate link.

And the third is a national column by the organization Public Campaign. The profile piece provides the nuts and bolts difference between my traditional statewide campaign of 2004 and my grassroots, publicly-financed statewide campaign in 2008.

For background on previous coverage and blog posts of this subject, check out these additional links here and here.

All the above is especially relevant in view of pending legislation in the General Assembly to include additional Council of State offices in this voluntary program.

Editor's Note: Blogpost was updated to include recent national column by Public Campaign and the relevant link.

Insurance Commissioner Wayne Goodwin Rolls Back Auto Insurance Rates, Freezes Them, and Orders Refunds

Goodwin Signs Settlement That Decreases Auto Rates and Freezes Them Until At Least 2011: Approximately One Million Policyholders to Receive Refund Checks Together Totaling more than $50 Million.

July 15, 2009

RALEIGH — Insurance Commissioner Wayne Goodwin today signed a settlement with the North Carolina Rate Bureau that will roll back private passenger auto insurance rates to just under 2006 levels; the changes will go into effect on Nov. 1, and are retroactive to Jan. 1.

The North Carolina Rate Bureau (NCRB) is an independent organization that represents all auto insurance companies in the state.

The settlement does away with the NCRB’s implemented 9.4 percent 2008 rate increase and denies their 2009 request for an additional 1.4 percent rate increase and includes an additional .5% decrease. Under the settlement, the NCRB may not file changes to auto rates until 2011, which means that the maximum allowable auto rates are locked in until Oct. 1, 2011 at the earliest. This saves North Carolina policyholders an estimated $545 million over this time period.

“I’m thrilled that North Carolina drivers will see a decrease in their auto insurance rates,” said Commissioner Goodwin. “Drivers will not only see lower rates, but many will also receive refund checks beginning in mid-2010 that may together total more than $50 million. In this economy, every dollar counts, and I am committed to protecting consumers through fair ratemaking.”

The refunds stem from a dispute between the Department and the NCRB over rates ordered in 2008. During the appeals process, the NCRB implemented an interim 9.4 percent rate increase that went into effect on Jan.1 of this year. In cases where insurance companies charged policyholders more than the rates determined by this settlement, insurance companies are required by statute to refund the difference between the rates charged and the settled rates, with interest.

“With this rate rollback, the effect is that I will have capped rates for the five year period spanning from 2006 through 2011,” added Insurance Commissioner Goodwin.

The Department of Insurance has consistently issued small or no rate increases, and in many cases has ordered rate decreases. Combined, this has potentially saved drivers more that $5 billion over the last 25 years.

To learn more about this terrific news for consumers, a sample of TV video and newspaper coverage is here, here, here, here, and here. The Department's official press release is here.

Welcome to Visitors Who Attended Yesterday's NC 20 Meeting in New Bern!

Welcome to everyone who attended yesterday's meeting of NC 20 at the New Bern convention center!

Many of you were directed to this site by one of the attendees of that meeting. Once you have a chance to peruse this personal blog, you will very soon note that it is in great part about political matters affecting the Eighth Congressional District of North Carolina. As many of you know, I live in Richmond County, which is the heart of a district that stretches from Charlotte to Fayetteville.

This same gentleman who attended the New Bern meeting and directed you to this site met with me personally, along with his colleagues on the Kure Beach town council, approximately two weeks ago in my Raleigh office. I spent almost an hour listening to his concerns and directly answering ALL of his questions despite his frequent interruptions. I believe this gentleman is attempting to play partisan politics with your insurance rates, which is highly inappropriate and contrary to the best interests of the people of North Carolina.

Meanwhile, please note that I personally directed my Assistant Commissioner of Insurance to attend the entire New Bern meeting yesterday because your opinions and issues matter greatly to me. (I couldn't attend because of a previously-scheduled meeting with representatives from Coastal Carolina Tomorrow, based in Wilmington, about potential solutions to the coastal insurance dilemma.) He is in charge of the Eastern Regional Office for the Department of Insurance. All issues that concern eastern North Carolina concern him, me, and the Department.

My focus is finding the most affordable, most fair insurance rates possible, protecting consumers, and appropriately ensuring a well-regulated, solvent, competitive market. These were promises I made during the campaign and will continue to be goals I strive for. Working together, we all will find a solution during these trying economic times.

I encourage you to contact me with your thoughts and concerns as we work cooperatively toward solutions. My office number at the Department of Insurance is (919) 733-3058 and my email address is wgoodwin@ncdoi.net.

Thank you for visiting my Wayne's World blog.

Merry Christmas and Happiest of Holy Days from Wayne's World!

This year has been most interesting and a true whirlwind: Lots of unexpected political and personal events in the 8th District, throughout North Carolina, and in the presidential contest. Of course, much more important for us than the Insurance Commissioner's race, Melanie and I were blessed by the birth of our son immediately before the primary election; and, Madison began first grade and has had a successful school year thus far.

The remaining days of the year will disappear quickly. And because we'll be busy with family and transition to the new post, here is our blog's seasonal greetings:

Wayne's World and the Goodwin Family wish everyone a safe, merry, and prosperous Christmas. May we all enjoy the happiness and peace and security we need and deserve, not just during these holy days of 2008 but on into the new year.

Pictured here, at the close of a recent holiday party, are: Melanie and Madison, with Jackson enjoying his evening dinner bottle while in his Dad's lap.

A Post-Election Primer on the Successful Public Financing of the NC Insurance Commissioner race: Crossposted Interview with Wayne Goodwin

Betsy Muse, one of my BlueNC blogger friends, today posted her interview about my views on the public financing of my Insurance Commissioner campaign.

Reading it as objectively as I can when one is also the interviewee, her interview is certainly an informative piece about the pilot program and how it affected the 2008 Insurance Commissioner's race. To read it yourself and Betsy's on-target questions, merely click right here and you'll be magically transported to it.

Coincidentally, today editors of the Raleigh News & Observer published its primary editorial in support of public financing of political campaigns. In essence, they wrote that such programs are "proving their worth" and specifically cited how well the program functioned in the Insurance Commissioner's race. Read the full editorial by clicking this link here.

Your comments on this subject are welcome both at Wayne's World and at BlueNC.

Raleigh N&O, Greenville Reflector Endorse Goodwin; Candidate to Return to 8th District on Monday

In the waning days before Election 2008 comes to a close, the Goodwin for Insurance Commissioner campaign has received several more key newspaper endorsements.

The Raleigh News & Observer published its endorsement today. The link is here.

Several days ago the Greenville Reflector did the same. Read it here.

A sampling of additional newspapers that have endorsed the Goodwin campaign are here at this link.

The Democratic nominee for Insurance Commissioner returns to his home Congressional District - the Eighth - on Monday for Election Eve. Joining him will likely be several other candidates on the statewide ballot.