Johnson Insurance Management Offers to Review Consent to Rate Forms for NC and SC Residents

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Insurance company serving the Carolinas commits to helping homeowners navigate the confusing consent to rate process.

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We're always looking to expand our client reach, and our goal is to bring new products to the table and make sure we stay competitive. We make sure our customers get the best products for the best price.

Johnson Insurance Management has announced a new initiative designed to help homeowners understand the consent to rate forms they may have received from their existing or prospective insurance companies, and then help them to secure more favorable policies if possible.

“We're offering our services to people to help them review any and all policies that include CTR,” said Johnson Insurance Management President Todd Johnson.

The state of North Carolina regulates insurance rates and sets maximums for premiums. But insurance providers can charge above these rates if they get consumers to sign CTR forms; an insurer can decline to offer a policy if the homeowner refuses to sign.

“This CTR form is an ambiguous, at best, document that uses complicated insurance industry jargon that customers may not understand,” Johnson said. “They end up signing this piece of paper not fully knowing what they've just purchased -- and for how much.”

The practice has come under increased scrutiny in the wake of hearings held in October by state Insurance Commissioner Wayne Goodwin regarding the increase of state maximums requested by insurance providers. Homeowners are protesting increases that could run up to 35% in some areas, while insurance companies say that current rate maximums prevent them from charging premiums proportionate to the amount of risk taken on by the insurer.

"This is a very hot topic right now in the insurance industry,” Johnson commented. “Forcing customers to sign CTR forms wasn't always the norm in North and South Carolina, but nearly every insurance company has jumped on the bandwagon when it comes to sending out CTR forms this fall."

Johnson said his company’s first priority is making sure that homeowners are fully informed about what signing a CTR form does and doesn’t do for their policies. He recommends that if consumers get a CTR form, they should sign and return it, but then consult with Johnson Insurance Management. “By doing this, you aren't fully committing yet to this policy, and you have time to keep your options open,” he explained.

After submitting the signed form, the homeowner will have between 40 and 45 days to secure other coverage through Johnson Insurance Management. “Johnson Insurance Management then finds them lower-priced packages that have equal or better value,” Johnson said.

The company is offering its services to all homeowners in both North Carolina and South Carolina.

"Most agents are well aware of CTR, and most agents are concerned about it, but we're taking a proactive stance on it," Johnson concluded. "We're always looking to expand our client reach, and our goal is to bring new products to the table and make sure we stay competitive. We make sure our customers get the best products for the best price.”

About Johnson Insurance Management

Johnson Insurance Management is a family owned independent insurance agency that can assist with both personal and business insurance, including flood insurance, worker's compensation, general liability insurance and more. To learn more, visit johnsoninsurance.org

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Todd Johnson
US Self Storage
+1 (704) 253-1003
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