North Carolina Insurance Commissioner wins re-election

Mike Causey, the North Carolina Insurance Commissioner, has won re-election after a tight race.

Only 11 US states elect an insurance commissioner, with all other states seeing the commissioner appointed by the state Governor.

Causey, a Republication, fought a tough challenge in this election against the Democratic challenger Wayne Goodwin.

Causey collected 52% of the vote to Goodwin’s 48%.

Goodwin had previously held the role of Insurance Commissioner from 2009-2016, and is the chair of the North Carolina Democratic party.

Goodwin ran for Insurance Commissioner against Causey in 2016, but once again lost by a narrow margin.

North Carolina is a growing captive insurance domicile, with captives allowed in the state for only six years.

Despite not being the oldest domicile in the US, North Carolina had 235 captives as of 31 December 2020.

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