Science on the Sound Lecture Series - Don Hornstein - NC Coastal Insurance 

This broadcast was live-streamed on August 28, 2024.
Join us for the August 2024 installment of the "Science on the Sound" Lecture Series at the Coastal Studies Institute on the ECU Outer Banks Campus. This monthly, in-person lecture series brings perspectives from all over the state and highlights coastal topics in northeastern North Carolina. This month, Don Hornstein, Thomas F. Taft Distinguished Professor in the UNC School of Law at UNC-Chapel Hill will present "What in the World is Happening with Homeowners and Flood Insurance at the North Carolina Coast" on August 28, 2024, at 6:00PM.
Insurance is no longer dull. Rather, as everyone knows, suddenly the topic of insurance for coastal homeowners is a very big deal. Within the last 10 years, Nationwide Insurance cancelled coverage for 10,000 North Carolina coastal residents, and the State’s homeowner insurers have together proposed a 50-100% rate increase for all coastal homes, a proposal currently pending before the State’s Commissioner of Insurance - with a hearing scheduled in October. Separately, FEMA has rolled out “Risk Rating 2.0,” the biggest change to federal flood insurance in 50 years - and an initiative that has so far survived a federal court challenge in Louisiana and is scheduled for a full trial.
Professor Hornstein will give updates on all of these matters, not to mention what’s happening to homeowners and flood insurance throughout the United States. He can also give us an insider’s view of the “resilient-roof” grant program for NCIUA policyholders, an award-winning climate-resiliency program that he helped design.