Flood Insurance a ‘Wide Open’ Opportunity for Insurers, Agents in North Carolina

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North Carolina has been working hard to establish a private flood market after numerous catastrophes in the last few years left thousands of people in the state with damage they couldn’t pay for because they were uninsured against the risk. More private market competition would help encourage consumers to buy the important coverage that too many are currently going without, says North Carolina Insurance Commissioner Mike Causey. In this interview with Insurance Journal, Causey discusses how NCDOI and the North Carolina Rate Bureau worked together to make it easier for insurers to write coverage in the state, and what the department is doing to educate consumers about their risk.

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