Beach Plan Insurance affecting NC Coastal Areas
By Ginger Harper, Your Southport~Oak Island Agent~Brunswick County!
(Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team)
IMPORTANT ANNOUNCEMENT, APRIL 15, 2009 A legal challenge to increases in certain Beach and FAIR Plan deductibles and surcharges approved by the Commissioner of Insurance in November of 2008 is underway. The Commissioner approved these changes to be effective February 1, 2009. On March 20, 2009, the Wake County Superior Court stayed the Commissioner's approval of these changes and remanded the matter to the Department of Insurance to conduct proceedings to develop findings to support the Commissioner's decisions and create a record for appeal. Pending final resolution of the legal challenge, the Beach and FAIR Plans are proceeding to implement a roll back of the deductibles and surcharges to the levels that existed prior to the effective date of the Commissioner's approval of these chang...
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