North Carolina Joint Underwriting Association

In 1969, the north carolina general assembly established the association as a market of last resort to provide property insurance 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.