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Where funds would come from after major disaster

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North Carolina lawmakers have started grappling with how their underfunded beach plan would keep its insurance promises after a bad hurricane season.

Thursday, the House Insurance Committee began considering a proposal to cap insurers’ risks from a catastrophe, and shift remaining rebuilding costs to all North Carolina policyholders.

Estimates indicate the average $600 homeowner’s policy could rise up to $60-a-year to pay beach plan claims.

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North Carolina lawmakers have started grappling with how their underfunded beach plan would keep its insurance promises after a bad hurricane season.

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Associated poll

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