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Liability Hike Tied Up In Courts
Raleigh AP reports a 7.4 percent auto liability rate hike approved by Insurance Commissioner Edwin Lanier is stalled as the attorney general appeals to the state Court of Appeals. Lanier had trimmed an initial 8.9 percent rise from industry requests, citing Price Commission guidelines. The AG argues for a rate method like utility regulation, while Lanier defends using investment income from unearned premiums and loss reserves in the decision.
MENTIONED IN THIS ARTICLE
Raleigh
Edwin Lanier
Lanier
State Attorney General's Office
State Court of Appeals
Price Commission
Attorney General
Insurance Commission
Atty. Hunt Baxter