North Carolina Beach Plan News

More SE States Pushing Funding, Discounts for Stronger Roofs as Storms Increase

A residual property insurer and regulators in two Southeastern states are emphasizing roof integrity, more signs that mitigation and prevention are increasingly recognized as ways to reduce insured losses as storms escalate in frequency and severity. “The goal is to …

North Carolina Debt Option Proposed by Lawmakers to Pay Catastrophic Claims

The state-sanctioned property insurance program in North Carolina coastal counties could borrow to pay for extreme catastrophic losses from hurricanes in legislation making its way through the General Assembly. The House Finance Committee recommended legislation creating a public authority that …

North Carolina Residual Market Issues $500 Million in Cat Bonds; Rate Hikes Go Into Effect

North Carolina’s two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following hurricanes and other named storms. The North Carolina Joint Underwriting Association …