Beefing Up the Beach Plan

Aug 01, 2008

The Raleigh News and Observer featured a point of view piece written by Joe Stewart, Executive Director of the Insurance Federation of North Carolina, on the current position of the state's Beach Plan.

A storm that depletes the reserves of the Beach Plan, the state's insurance pool for wind coverage at the coast, would result in massive charges to insurance companies and an almost certain rate increase for homeowners across the state. The state's Beach Plan needs to charge rates that more closely match the risk of coastal properties, and it needs to build reserves so that it is prepared for a catastrophe.

Click here to read the entire piece.