Mike Causey

North Carolina automobile insurance rates are poised to increase statewide by a 5% average this fall as part of an agreement reached between state regulators and the insurance industry.

With many western North Carolina residents still lacking power and running water from Hurricane Helene, a hearing began Monday on the insurance industry's request to raise homeowner premium rates statewide by more than 42% on average.

North Carolina's top insurance regulator has denied an industry request to raise homeowners' insurance premiums by an average of 42% — and to almost…