(Getty images photo illustration)
North Carolina’s incumbent Republican insurance commissioner Mike Causey has been re-elected, defeating his Democratic challenger, state Senator Natasha Marcus.
The Associated Press projected Causey as the victor early Wednesday morning. As of 1:20 a.m., Causey had 52.14% of the vote to Marcus’ 47.86% with almost all precincts reporting, according to the State Board of Elections.
Marcus was the aggressor throughout the campaign, attacking Causey’s rate hike record and painting the two-term commissioner and the first Republican to hold the office as an “insurance industry insider” who has forgotten that he was “elected by the people to be their voice.”
For the past eight years, Marcus insisted, Causey has not put consumers first. She reminded voters throughout the campaign that there have been 16 rate hikes during Causey’s eight years in office — with three times as many homeowners’ insurance rate hikes as his predecessor.
Marcus was hypercritical of Causey’s decision to not hold public hearings on rate hikes. In many cases, Causey settled with insurance companies. The department, however, is currently holding hearings on a 42.2% homeowners’ rate hike proposed by the N.C. Rate Bureau. The Rate Bureau, which represents companies that write insurance policies, requested the increase in February. The board cited a higher cost of doing business due to climate change, which produces more powerful hurricanes and more severe flooding to justify such a large increase.
Last month, Marcus criticized Causey for scheduling the hearing so that he would not have to make a decision on the rate hike until after the election.
Meanwhile, Causey has said that he has worked with insurance companies to keep rates as low as possible. He has said that rates must be adequate to ensure insurance companies remain solvent and can pay claims. State law, Causey has said, allows commissioners to negotiate settlements.
The commissioner is the head of the North Carolina Department of Insurance, serves as a member of the Council of State, and is also the State Fire Marshall. The Department of Insurance regulates the insurance industry, handles insurance-related complaints and licenses insurance agents. Additionally, the department houses the Office of the State Fire Marshall, which interprets building codes, trains firefighters, and awards grants to fire and rescue departments for equipment.
The commissioner is elected by a statewide vote during presidential election years and serves for a four-year term. North Carolina is only one of 11 states where voters elect insurance commissioners.
Election night results are unofficial and vote totals will likely change over the coming days as local boards of election consider provisional, military, and overseas civilian ballots. The state Board of Elections is scheduled to meet Nov. 26 to certify the results.