Goodwin Approves 9.6% Cut in Voluntary Market

North Carolina Insurance Commissioner Wayne Goodwin on Monday approved a 9.6% cut in loss costs in the voluntary market, but denied a requested boost in rates in the assigned-risk market.Goodwin said the changes represent a settlement with the North Carolina Rate Bureau (NCRB), which had called for a 9.6% reduction in the voluntary market but asked that rates in the residual market be increased by 1.3%.The residual market will continue to operate at current rates, Goodwin said. The 9.6% reduction in the voluntary market will take effect next April 1.     Changes in the volu...