Insurers Honor 2 North Carolina Lawmakers for Beach Plan Bill

Two North Carolina state legislators have been named “State Legislators of the Year” by the National Association of Mutual Insurance Companies (NAMIC) for their efforts to pass legislation reforming the state’s coastal property insurance fund known as the Beach Plan.

Chuck Chamness, NAMIC’s president/CEO, announced the award winners – Rep. Hugh Holliman and Sen. Tony Rand – during NAMIC’s Annual Convention being held in Atlanta.

Holliman and Rand, both Democrats, were tapped last year to co-chair the Joint Select Study Committee on the Potential Impact of Major Hurricanes on the North Carolina Insurance Industry. The recommendations presented by the committee were used as the basis for HB 1305, legislation that reduced insurers’ exposure in the Beach Plan and introduced measures to encourage more private insurnace for coastal properties.

Gov. Beverly Perdue signed the bill in August.

Chamness said both Holliman and Rand played “crucial roles in the passage of this much-needed legislation that will help ensure the affordability and availability of property insurance in North Carolina.”

Topics Carriers Legislation North Carolina