Oversight of NC insurance market goes to Goodwin

RALEIGH, N.C. (AP) — Incumbent Wayne Goodwin has defeated Republican Mike Causey of Greensboro for North Carolina insurance commissioner.

Partial unofficial results show Goodwin won a second, four-year term on Tuesday over Causey, a former insurance agent. Goodwin had nearly 52 percent of the vote.

Causey lost to former Democratic Insurance Commissioner Jim Long in 1992, 1996 and 2000. Goodwin was elected in 2008 as Long retired.

The job’s primary responsibilities are regulating insurance companies and their agents, and judging rate requests so that company profits are balanced by consumer needs.

Causey got a boost in coastal counties because of complaints of sharp property insurance increases approved by Long in 2008 which took effect during Goodwin’s term.

Goodwin said he held down the statewide cost of insurance and fought insurance fraud.