Nation­wide does­n’t take the coastal side of I‑95; 10,000 poli­cies impact­ed

(The Cen­ter Square) – Nation­wide is blam­ing “infla­tion and mar­ket dis­rup­tions” for drop­ping more than 10,000 North Car­oli­na home­own­ers’ insur­ance poli­cies, most­ly in coastal coun­ties.
“The big take­away … is back in Feb­ru­ary they con­tact­ed us to let us know about 10,000 poli­cies would be non­re­newed because of the hur­ri­cane assess­ment tool and about half would be referred to the beach plan,” Jason Tyson, spokesman for the North Car­oli­na Depart­ment of Insur­ance, told The Cen­ter Square.
His ref­er­ence is to the North Car­oli­na Insur­ance Under­writ­ing Asso­ci­a­tion.
The tax exempt asso­ci­a­tion of insur­ance com­pa­nies is the state’s mar­ket of last resort.
“Con­sid­er­a­tion was giv­en to cli­mate sever­i­ty, weath­er-relat­ed loss­es, and the rein­sur­ance mar­ket,” Tyson wrote in an email. “Con­se­quent­ly, under­writ­ing renew­al guide­lines were …