IN 1969, THE NORTH CAROLINA GENERAL ASSEMBLY ESTABLISHED THE ASSOCIATION AS A MARKET OF LAST RESORT TO PROVIDE PROPERTY INSURANCE IN THE BEACH AND COASTAL AREAS OF NORTH CAROLINA FOR INDIVIDUALS AND BUSINESSES WHO ARE UNABLE TO BUY IT IN THE STANDARD INSURANCE MARKET. ALL PROPERTY AND CASUALTY INSURANCE COMPANIES DOING BUSINESS IN NORTH CAROLINA ARE REQUIRED BY STATUTE TO PARTICIPATE IN FUNDING THE OPERATIONS OF THE ASSOCIATION, AND THEY SHARE IN ITS LOSSES ON PRO RATA BASIS. THE ASSOCIATION IS NOT AN AGENCY OF THE STATE GOVERNMENT, BUT ITS REGULATED BY THE NORTH CAROLINA COMMISSIONER OF INSURANCE.
Executive compensation
Form 990 · Schedule J · 11 reported individuals · Filing year 2024
| Position | Total |
|---|---|
Chief Operating Officer | $51k $54k |
Chief Claims Officer key employee | $50k $53k |
Chief Information Officer chief information officer | $48k $51k |
Chief Executive Officer | $46k $49k |
Claims Manager highest compensated employee | $43k $46k |
Director of IT chief information officer | $40k $42k |
Chief Financial Officer | $39k $41k |
Director of Underwriting highest compensated employee | $38k $41k |
Chief Human Resources Officer key employee | $32k $34k |
Director of Claims highest compensated employee | $26k $27k |
Claims Manager highest compensated employee | $12k $13k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 16 unpaid individuals.
Down 1%
from 2023
From $51k in 2023 to $51k in 2024.
Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Revenue and expenses over time
NORTH CAROLINA INSURANCE UNDERWRITING ASSOCIATION reported revenue and expenses across 2 filing years.
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