Beach Plan: So far, so good

Last week’s overhaul of the
state-backed Beach Plan already has paid a dividend: more competition
in the homeowners insurance market.

AAA Carolinas on Friday
announced that its insurance subsidiary plans to start offering
homeowners insurance in North Carolina beginning next month.

State
Insurance Commissioner Wayne Goodwin, who supported the overhaul,
issued a statement hailing AAA’s action. Department spokeswoman Johanna
Royo said that the department expects other insurers to follow AAA’s
lead.

Faithful readers of Carolina Journal Online were alerted of the potential good news nearly two weeks ago.