A Conversation With Mike Causey, Candidate For North Carolina Insurance Commissioner (Part I)

 

 

George Simpson Sat down with Mike Causey and discussed a number of topics on the upcoming election

 

I finally turned to Mr. Causey’s campaign platform.  What issues are central to his campaign?

"Well, I’m running on bringing about a healthy insurance climate in North Carolina and a system that is fair and equitable across the board.  I hear a lot of concerns.  Some people say, “Well, should we get rid of the Rate Bureau or keep the Rate Bureau?”  You know as well as I do, the insurance industry is divided also.  There are some companies that like it the way it is, there are some that would like to do away with it, or at least make changes.  I know I received a phone call from someone with State Farm not long ago, and they said, “What’s your position on the Rate Bureau?”  I said well, you know, I’m not a big fan of the Rate Bureau I’ll tell you, but I’m old enough to remember why the Rate Bureau came into existence.  We had something called assigned risk.  That was a terrible thing. So much public outcry came about over assigned risk.  That’s why the legislature came up with the solution, which was the Rate Bureau.  So State Farm had tried to get legislation a couple of years ago to do away with the Rate Bureau.  That backfired.  So, now from what I hear there’s some companies that are saying, “Well, maybe we can have companies opt out if they wanted to opt out.”  I don’t know the answer, but I just know we do need to make some changes."

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A Conversation With Mike Causey, Candidate For North Carolina Insurance Commissioner (Part I)