N.C. Supreme Court won't hear insurance appeal
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RALEIGH – The North Carolina Supreme Court has declined to hear an appeal concerning homeowner insurance rates.
Last April, the Court of Appeals dismissed the first of three cases. The court ruled it cannot overturn a 2008 deal struck between former Insurance Commissioner Jim Long and the North Carolina Rate Bureau citing the deal did not meet the legal standard of being excessive or unreasonable.
Several coastal counties and towns appealed the agreement after insurance rates for some homeowners along the coast jumped by nearly 30 percent.
The Supreme Court's decision ends the case and the April ruling will remain in place.
Meanwhile, there's no word on when a ruling will be made in the other two cases.