The North Carolina House of Representatives today passed legislation to reform the state's "Beach Plan" on a vote of 94-22. The bill now goes to the Senate. The statement below may be attributed to Liz Reynolds, Southeast state affairs manager for the National Association of Mutual Insurance Companies (NAMIC).
"A stable, solvent Beach Plan with a balanced approach to sharing financial responsibility for paying claims following a hurricane is important to everyone. While this is not a perfect bill, we have a golden opportunity to make far-reaching, long-term changes to improve North Carolina’s coastal insurance market for property/casualty insurance companies and consumers throughout the state.
“We will continue to work with legislators in the weeks ahead to work out some questions we have about this bill, but, obviously, the House members understand the industry’s concerns about unlimited assessment potential. We applaud them for their positive vote on a complicated issue that affects not only coastal North Carolina, but all citizens of the state."
For further information, contact
Lisa A. Floreancig
State & Policy Affairs
(317) 876-4246 Tel
Posted: Wednesday, July 15, 2009 12:00:00 AM. Modified: Thursday, July 16, 2009 8:24:02 AM.
317.875.5250 - Indianapolis | 202.628.1558 - Washington, D.C.