Effective September 01, 2009
New Commercial Rates
The Associations will adopt ISO (Insurance Services Office, Inc) loss costs approved for usage in the state of North Carolina.

Effective June 08, 2009
Announcement Single Adjuster Program 2009
The meetings for the "Single Adjuster Program" will not be scheduled during 2009. There have been no changes from 2008; and you may review the procedures on our website at www.ncjua-nciua.org under "Claims/Catastrophes". Instructions are provided for Member Companies, Producers and Independent Adjusters. If you have any questions, please contact our office and request to speak to Mario Marchese, Claim Manager.

Effective May 20, 2009
Important Announcement
The roll back changes for all policies affected by the surcharge increase and percentage deductibles, as outlined in our Announcement of April 15, 2009, have been completed.

Effective April 28, 2009
Important Announcement
We have corrected the Homeowner and Homeowner Windstorm and Hail continuation/renewal policies that were affected by ONLY a surcharge change effective February 1, 2009 through April 1, 2009. These changes have typically resulted in a return premium for the Policyholder. Because of the complexity of this issue, all return premium checks have been made payable to the Producer or Insured, and mailed to the Producer so that you could explain the situation further to your client upon return of the premium. Again, this was as a result of the surcharge change ONLY.

Effective April 15, 2009
Beach and Fair Plan Roll Back - Additional Information
Additional Roll Back Information - Roll Back (PDF Format)

Effective April 15, 2009
Important Announcement
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 changes. Staff is working with the Department of Insurance to accomplish this roll back promptly and fairly, and will correspond with those Beach and FAIR Plan insureds affected by the roll back to explain and implement all premium, deductible and claims adjustments that are required.

This roll back does not apply to the North Carolina Rate Bureau's homeowners rate revision, which is to take effect May 1, 2009.

Effective April 1, 2009
Update to Hurricane Coverage Writing Restrictions
Recently the Board of Directors and Department of Insurance have approved a change in the Associations' Plan of Operations to modify the Hurricane Coverage Writing Restrictions to include a Named Storm. The new restriction rule will read as follows, as outlined in the Plan of Operations:

No new or increased coverage shall be bound or application for new or increased coverage accepted after 12:01A.M. the following day
when the center of a designated named storm is located within Longitudes 65º West and 85º West, and Latitudes 20º North and 37º North.
The term “designated named storm ” is a windstorm designated as a hurricane or tropical storm by the National Weather Service.
 

Effective January 9, 2009
Important Commercial Deductible Buy-Back Program Update
We have previously advised you of deductible changes for coastal and beach residential and commercial properties that the Commissioner of Insurance recently approved. It is vital for financial soundness considerations that the Beach Plan limit its exposure and stay within its intended mission of being the market of last resort. To this end, it has been determined that the existing commercial coverage deductible buy-back procedure is inconsistent with these higher deductibles and with the Beach Plan's overall mission. The new deductibles will take priority over the buy-back coverage until the Board of Directors reviews these matters. Therefore, effective immediately, the Association will not accept any new primary deductible buy-back coverage. The staff will process continuations that it has received pending staff's receipt of direction from the Board. We expect to non-continue (non-renew) existing buy-back coverage upon expiration of these policies, and this will be announced at a later date. Contact your Underwriter if you have any questions.

Effective October 30, 2008
FAIR Plan Premium Finance Agreements
FAIR Plan premium financed policies previously had any return premium sent to the Producer to add the commission and forward on to the Premium Finance Company. This sometimes added delays that were not acceptable to the Premium Finance Company. Effective October 30, 2008, the Association will begin returning the gross return premium for any cancellation requested by the Premium Finance Company directly to them. In return, we will bill the Producer directly for the return commission that is due the Association. This will only apply for cancellations that are requested by the Premium Finance Company. Any other type cancellation or return premium will be handled in the normal manner of a net return sent to the Producer that would require the addition of the return commission to the Policyholder.

Correction - Effective January 1, 2009
Commercial Lines Inflation Factor
The Beach Plan will adjust the commercial lines automatic inflation factor to 2.5% according to the Consumer Price Index. Following the Consumer Price Index is the method approved for the Association on our automatic inflation factor program.