Goodwin Okays 4.8% Increase in Residual Market Rates

North Carolina Insurance Commissioner Wayne Goodwin has approved a 4.8% increase in residual market rates to take effect on April 1, 2013.The North Carolina Rate Bureau said it requested a 9.7% increase in a filing with the North Carolina Insurance Department on Aug. 31.NCRB said the bureau negotiated the 4.8% increase with Goodwin's office.The changes will increase rates in the goods-and-services sector by 7.1%. Manufacturing rates will increase by 5.3%, and rates for jobs in the construction sector will increase by 3.9%. Rates were increased by an overall 8.5% for federal job classificat...