National Flood Insurance Program Update
The National Flood Insurance Program is set to expire this Friday, December 8th. Congress is considering a two-week extension that would allow time to more carefully consider long-term legislation renewing the program. The program was originally set to expire on September 30th but Congress approved extending the program in the wake of Hurricanes Harvey and Irma. Reform legislation has passed the House and the Senate is considering several reform bills. The two-week extension would give the Senate much needed time to consider those bills. Without the extension, real estate closings of properties located in special flood hazard areas and with a federal backed mortgage may not be able to close.
The short extension is included in Continuing Resolution (CR) legislation aimed at keeping the federal government open and operating.
SUBMIT COMMENTS ON 25% HOMEOWNERS INSURANCE RATE INCREASE
The NC Rate Bureau submitted a Homeowners Insurance Filing representing an 18.7% average increase statewide. The homeowners filing will impact those with homeowners insurance policies – not dwelling policies. Homeowner policies typically cover properties that are primary residences; those homes that are owner-occupied.
To view the Rate Filing document use the following steps:
–Click this link which will take you to the Property and Casualty Division Filing Search feature.
-Click on the “Search by SERFF Tracking Number of Company Name” menu bar.
-Click on the “Begin Search” menu button.
-Read the SERFF user agreement and click on the “Accept” button.
-Under “Business Type”, click the down arrow and select “Property and Casualty”
-In the “SERFF Tracking Number” field, type in the following number: NCRI-131271722
While the filing represents a statewide average increase of 18.7%, the increase would be capped at 25% for coastal communities if the filing is approved. The Rate Filing shows an “indicated need” for a 67 to 80+% increase for the barrier island portions of NC.
Please provide comments on this filing. There are three ways to do so:
1. Attend the Public Comment forum that will be held to listen to public input on the Rate Bureau’s rate increase request at the NC Department of Insurance’s Second Floor Hearing Room from 10 a.m. to 4:30 p.m. on Dec. 12, 2017. The Department of Insurance is located in the Albemarle Building, 325 N. Salisbury St., Raleigh, NC.
2. Emailed public comments should be sent by Dec. 29, 2017 to: 2017HomeInsurance@ncdoi.gov
3. Written public comments should be mailed to Tricia Ford to be received by Dec. 29, 2017 and addressed to: 1201 Mail Service Center, Raleigh, NC 27699-1201
All public comments will also be shared with the NC Rate Bureau. If Department of Insurance officials do not agree with the requested rates, they will be negotiated with the NC Rate Bureau. If a settlement cannot be reached within 50 days, a hearing will be called.
Settlements have been reached on rate filings in the past but if the case goes to a hearing, the hearing officer will rule on rates and any appeal would go through the court system. The rates set in these cases represent the highest amount allowable for all companies to charge.
OBAR/OBHBA Legislative Committees are in the process of reviewing the filing and formulating talking points opposing the increase.
Dare County– Reminder – Real and personal property and taxes are due by January 5th. They become delinquent after that date and interest begins at a rate of 2% for the first month and 3/4 of 1% will be added each month thereafter until paid. Other costs and charges may also be added to the amount you owe.
Payments submitted by mail are deemed received based on the date shown on the postmark affixed only by the U.S. Postal Service. If the postmark is not affixed by the U.S. Postal Service or the postmark cannot be read, payment will be deemed to be received when it is received in the tax office. It is to your advantage to mail your payment several days in advance of the past due date.
More information can be found here.
Duck– Town Council will hold public hearings to consider the following zoning ordinance text amendments at 7 p.m. at their meeting on Wednesday, December 6th:
• Proposal to amend the Zoning Ordinance by clarifying the approval process for stealth antennas and updating standards for small wireless facilities consistent with recent State legislation.
• Application for a conditional use permit to apply the Village Commercial Development Option to a project involving the renovation of the existing two-bedroom residence, construction of a two-car garage, and construction of a mixed-use building with studio/showroom, office, and two-bedroom apartment at 102 Scarborough Lane.
You may contact Director of Community Development Joe Heard for more information about these proposals at (252) 255-1234 or email@example.com.
In the News
Wednesday, December 6
6:00 p.m. – Coyote Conflict Management Workshop, Southern Shores Pitts Center
6:30 p.m. – Manteo Board of Commissioners
7:00 p.m. – Duck Town Council
Monday, December 11
5:30 p.m. – Kill Devil Hills Board of Commissioners
6:00 p.m. – Dare County Planning Board
7:00 p.m. – Dare County Waterways Commission
Tuesday, December 12
10 a.m. – Public Comment Period on Homeowner Insurance Rate Filing (see above)
9:30 a.m. – Oregon Inlet Task Force
6:00 p.m. – Manteo Planning and Zoning Board
7:00 p.m. – Currituck Planning Board
Wednesday, December 13
6:00 p.m. – Duck Planning Board
Thursday, December 14
6:00 p.m. – Kitty Hawk Planning Board