The SCDOI has issued Order Number 2022-05: Self-Funded Rates for the Workers’ Compensation Assigned Risk Plan Additional Info... Show The SCDOI has issued an order designed to crack down on bail bondsmen who fail to report a criminal defendant’s non-compliance with court-ordered bond conditions. Additional Info... Earthquake damage is not typically covered under your renter's or homeowner's insurance policy. Learn how to protect your home and property against a potential loss, in the SCDOI's new Earthquake Coverage Guide. Download it today! Additional Info... Ray Farmer, Director of the SCDOI, was honored with the NAIC President’s Award for Distinguished NAIC Leadership for his years of steadfast insurance regulation. Read on... Yesterday, Ray Farmer, Director of the SCDOI took another step towards protecting consumers who have long-term care insurance with Senior Health Insurance Company of Pennsylvania (SHIP) from potentially detrimental rate increases or benefit reductions. Read on... Concerned citizens should now report suspected insurance fraud to the SCDOI. Reports of suspected insurance fraud can be made through an online portal system or by calling the SCDOI’s Insurance Fraud Division at 888-95-FRAUD (37283). Read on... September is National Life Insurance Awareness Month, and the South Carolina Department of Insurance (SCDOI) wants to alert consumers to the importance of this coverage. Read on... SCDOI Director Farmer announces that he has entered into an MOU with Attorney General Wilson & Chief Keel of SLED, to transfer insurance fraud enforcement to the SCDOI. A budget of $2 million for insurance fraud investigation & prosecution was announced. Additional Info... The General Assembly created the North Carolina Department of Insurance in 1899. Licensing and supervision of insurance companies were previously delegated to the Secretary of State’s office, but a group of insurance agents felt a specific state agency dedicated to overseeing the insurance industry was needed. Lawmakers agreed, and the Department of Insurance was established on March 6, 1899. The Commissioner was first elected by the people in 1908. The position and duties of the Commissioner of Insurance are established by Article III, Section 7 of the North Carolina Constitution, and the Commissioner is part of the Council of State as well as the State Fire Marshall. The Department of Insurance includes the following divisions: - Services for Consumers The Department of Insurance provides valuable services to the people of North Carolina by regulating the insurance industry, licensing insurance professionals and others, educating consumers about different types of insurance, handling consumer complaints, and much more. The Department also houses the Office of State Fire Marshal, which is responsible for a host of other services that improve North Carolinians’ daily lives. With some 400 employees and 20 divisions, much of what the Department of Insurance does directly affects all citizens, though most may not realize it. The Department regulates insurance companies and agents. Any insurance business in this state first must be approved by the Commissioner, and companies and agents must meet rigorous standards before they receive a license to do that business. The Department also provides other services not directly associated with insurance. Some of the things the Department does include: - Licensing bail bondsmen The Department of Insurance strives to provide high quality service to North Carolinians across the state. Our headquarters are in Raleigh and we have regional offices in Asheville, Charlotte, and New Bern. Who governs insurance companies in North Carolina?Commissioner of Insurance and State Fire Marshal Mike Causey.
Who appoints NC Insurance Commissioner?North Carolina is one of the few states to have an elected insurance commissioner. In the event of a vacancy in the office, the Governor of North Carolina has the authority to appoint a successor until a candidate is elected at the next general election for members of the General Assembly.
What is the official name of the department agency or Office in charge of insurance regulation for NC?Minimum Coverage
For more information, call the Consumer Services Division of the N.C. Department of Insurance at (855) 408-1212.
What are the duties of the NC Commissioner of Insurance?Under state law, the Insurance Commissioner serves as State Fire Marshal. From training fire and rescue personnel, to helping improve building codes, to awarding grants to fire and rescue departments for equipment, OSFM plays a vital role in protecting lives and property in North Carolina.
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