NC S284

Creates the North Carolina Recovery Finance Authority, a state agency authorized to issue tax-exempt revenue bonds to finance deficits in the North Carolina Insurance Underwriting Association related to catastrophic events, with debt service payable from catastrophe recovery charges.

Requires the Insurance Underwriting Association to submit detailed homeowners insurance data (direct incurred losses, earned premiums, house years, and expenses) to the Department of Insurance by rate territory for the past five years, with aggregated information made publicly available on the Department's website.

Establishes requirements for home elevation businesses to carry comprehensive general liability insurance ($350,000 minimum), all-risk cargo insurance (100% of structure value or $350,000), and workers' compensation insurance for employees.

Requires insurance adjusters to disclose their principal to insureds in all interactions and permits the Insurance Underwriting Association to adopt and fund mitigation programs to reduce policyholders' exposure to risk of loss.

Allows the Insurance Commissioner to disapprove excessive property insurance rate filings and specify alternative rate levels, and amends references to the "Beach Plan" to "Coastal Property Insurance Pool."