Study Residual Property Market Mechanisms.

SB 276 directs North Carolina's insurance associations (NCIUA and the Joint Underwriting Association) to study potential improvements to the state's property insurance systems for disasters. Specifically, it requires them to examine two options: creating "excess property coverage" for policyholders to cover costs beyond their primary insurance, and exploring "post-event catastrophe bonds" to help pay for major storm losses exceeding insurer capacity. The study must be completed by March 1, 2026, with findings and recommendations reported to legislative insurance committees. This bill does not change current law or provide funding - it only mandates a study of potential future solutions for property insurance challenges after natural disasters.