The Property Casualty Insurers Association of America is calling on the North Carolina Insurance Underwriting Association to publicly disclose its financial operations a day after a national insurer said it is leaving the market because of assessments.
PCI said it will ask the board of the North Carolina Insurance Underwriting Association to release this information at a meeting of the Underwriting Association's board on Monday.
The North Carolina Insurance Underwriting Association, commonly known as the Beach Plan, is the residual property market for coastal property owners. It was created in 1969 for barrier islands and its authority has grown since then.
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