NC S276

Directs the North Carolina Insurance Underwriting Association (NCIUA) and the Joint Underwriting Association to jointly study improvements to residual property market mechanisms in response to increased natural disaster losses

Requires study of NCIUA establishing an excess property coverage option that would cover costs exceeding an insured's primary policy limits

Requires study of issuing post-event catastrophe bonds as debt instruments to cover named storm losses that exceed NCIUA's or the Association's capacity to pay claims

Study findings and legislative recommendations due to the House Insurance Committee and Senate Commerce and Insurance Committee by March 1, 2026

Effective immediately upon becoming law