H574 - Coastal Property Insurance Mitigation

• Require the North Carolina Insurance Association to file a schedule of insurance credits by May 1, 2014 for policyholders whose properties are located in areas with state or local government storm damage prevention and mitigation measures.

• Credit schedule must be non-discriminatory and approved by the Insurance Commissioner, with rules developed by the Association for program operation.

• Eligible mitigation measures include berms, sand fencing, dune vegetation such as sea oats, signage to limit foot traffic on barrier dunes, and beach renourishment.

• Association must review the schedule annually and report results as part of its annual report to the Commissioner.