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 "Beach Plan," the coastal insurer of last resort. Chuck Chamness, NAMIC's president/CEO, announced the award winners – Rep. Hugh Holliman and Sen. Tony Rand – today 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 will, among other things, return the Beach Plan to its original role as a true market of last resort and create a long-term reasonable approach for paying for catastrophic losses. Gov. Beverly Perdue signed the bill in August.
"Representative Holliman and Senator Rand are both outstanding legislators firmly committed to efficient and competitive insurance markets," Chamness said. "Both 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."
Holliman chairs the House Financial Institutions Committee and is vice chairman of the Finance Committee. He also serves on the Insurance Committee. Rand has served more than 11 terms in the state Senate and chairs the Rules Committee as well as being vice chairman of the Commerce Committee.
"While the insurance industry also benefitted from working closely together in a more open and collaborative relationship with Insurance Commissioner Wayne Goodwin and his staff, the successful passage of HB 1305 is due in no small part to the leadership and vigilance of Representative Holliman and Senator Rand. We thank them for their understanding of the issue and their diligence in shepherding this bill through the Legislature," Chamness said.
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