HB 1305, legislation to reform the North Carolina “Beach Plan,” was given a favorable report early yesterday evening by its second House committee of reference – Finance.
HB 1305 has the potential to be the most beneficial state insurance legislation of 2009. The bill is the result of recommendations by the Joint Select Study Committee on the Potential Impact of Major Hurricanes on the North Carolina Coast.
Many NAMIC companies and other industry members have already made plans to encourage employees, agents, and policyholders in North Carolina to contact legislators urging them to vote “yes” on HB 1305. If your company has not done so, NOW IS THE TIME. A full House vote is likely to occur on Tuesday.
Debate during the committee process has been productive, but passage on the House floor is not certain. The Insurance Federation of North Carolina, NAMIC’s advocacy partner, continues to lead lobbying efforts for HB 1305 on behalf of the industry. The current version sets the assessment cap for companies at $1 billion and specifies a catastrophic surcharge level for policyholders across the state.
NAMIC is supporting an industry radio and Internet advertising campaign to drive North Carolinians to the Fix the Beach Plan website, where consumers can find more information about the issue, determine who their legislators are, and send targeted e-mails voicing support for HB 1305.
We encourage NAMIC member companies to direct your grassroots participants to the Fix the Beach Plan website for a quick and easy way to make contact with appropriate policymakers.
Again, NOW IS THE TIME to mobilize employees, agents, policyholders, and other industry associates to contact North Carolina House members to ask them to vote “yes” when HB 1305 reaches the floor next week.
Direct questions to NAMIC State Affairs Manager Liz Reynolds.