Insurance companies request a 28.4% rate increase for auto insurance in North Carolina
Insurance companies want to raise drivers' rates for car insurance.The North Carolina Rate Bureau represents insurance companies in their dealings with state leaders. The bureau submitted a filing to the North Carolina Department of Insurance to increase prices on auto policies statewide by 28.4%, North Carolina Insurance Commissioner Mike Causey announced Thursday.Any change would become effective on Oct. 1.Causey is set to review the request to determine whether the requested increase is justified and to negotiate with the bureau rate.If the department does not agree with the requested increase, it can negotiate a settlement or call for a hearing.North Carolina law requires the bureau to submit auto rate filings with the department each year by Feb. 1.A Value Penguin study cited an S&P data report showing North Carolina's annual car…