North Carolina S276 directs a study on improving residual property market mechanisms in response to natural disaster losses.

North Carolina S276 mandates the North Carolina Insurance Underwriting Association and the Joint Underwriting Association to jointly study two mechanisms: an excess property coverage option and the issuance of post-event catastrophe bonds. The study aims to address challenges from significant insured losses due to natural disasters. Findings and recommendations must be reported to the relevant committee chairs by March 1, 2026.

North Carolina S276 directs a study on improving residual property market mechanisms in response to natural disaster losses.

North Carolina S276 mandates the North Carolina Insurance Underwriting Association and the Joint Underwriting Association to jointly study two mechanisms: an excess property coverage option and the issuance of post-event catastrophe bonds. The study aims to address challenges from significant insured losses due to natural disasters. Findings and recommendations must be reported to the relevant committee chairs by March 1, 2026.