RALEIGH -- State Insurance Commissioner Wayne Goodwin says he will allow insurance companies to sell health policies that had been cancelled because they didn't meet the requirements of the Affordable Care Act.

This comes after the presidents announcement in an efforts to maintain a pledge that if people liked their policies they could keep them. He says the regulatory approval process will be sped up.

"We'll receive the same data as we normally receive when companies files for new health insurance rates and normally we conduct a very thorough review to make sure rates are in compliance, but we are now having to expedite that due to circumstances really beyond out control."

More than 473,000 people in North Carolina have received notice from their insurance companies that their plans are being terminated because they do not meet the requirements of the Affordable Care Act