Raleigh -— Rep. Michael H. Wray has been appointed by House Speaker Joe Hackney to a bipartisan committee that will study the state’s automobile insurance rates.
The Joint Study Committee on Automobile Insurance Modernization is co-chaired by Rep. Hugh Holliman and Sen. Tony Rand. Insurance Commissioner Jim Long is also a member. The 22-member committee has been tasked with studying how automobile insurance rates in North Carolina are determined and whether that is done in a way to ensure consumers are getting the best coverage and rates.
“I am pleased to be appointed to the Joint Study Committee on Automobile Insurance Modernization,” said Rep. Wray, D-Northampton. “I am sure the committee’s report will bring recommendations on automobile insurance rates, drivers’ license points, revocations and other related automobile issues of importance to our citizens.”
As part of its study, the committee will review insurance regulations in other states; the Safe Driver Incentive Program (SDIP); the North Carolina Rate Bureau, the North Carolina Reinsurance Facility; insurance points for speeding, other insurance points and drivers’ license points; improper equipment violations, revocations and prayers for judgment continued and the type of information that is included in drivers’ records.
The committee may also study whether drivers must have liability insurance to keep their drivers’ licenses valid since such insurance is required to maintain a valid motor vehicle registration.
The committee may submit an interim report by May 1 and is required to submit a final report by December 31.
The next meeting of the committee is scheduled for February 13 in Raleigh.