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UPDATE: North Carolina House Insurance Committee to Continue Discussion on Homeowners Rate Freeze

NAMIC has learned that the North Carolina House Insurance Committee will continue its discussion of HB 426, which would freeze approved homeowners rate modifications, on Tuesday, March 24.

The sponsors of HB 426 and companion legislation SB 428 are attempting to protect coastal homeowners from necessary rate increases at the expense of an overdue focus on the long-term solvency of the Beach Plan and the private market.

There is still time for you to contact members of the House Insurance Committee asking them to vote against HB 426.

If you have employees and agents working in North Carolina, please consider sharing this Alert with them and asking that they make appropriate contact as well. The Insurance Federation of North Carolina has provided talking points.

Please let me know if you are able to make contact, and if you have any questions. Thank you for your help.

North Carolina House Insurance Committee