2024-05-07T14:53:37-05:00 2023-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2023-01-01 237102759 NORTH CAROLINA INSURANCE UNDERWRITING ASSOCIATION NORT 9198211299 751 CORPORATE CENTER DR 200 RALEIGH NC 27607 GINA HARDY CHIEF EXECUTIVE OFFICER 9198211299 2024-05-07 1 GINA HARDY 999009999 0 J CALVIN MARKS P01226973 9197196400 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z DIANNE HARDY 751 CORPORATE CENTER DR 200 RALEIGH NC 27607 446830243 0 X WWW.NCJUA-NCIUA.ORG X 1969 NC 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. 14 12 0 0 0 0 0 0 339376324 411246088 18198301 35231234 223114 352921 357797739 446830243 10585758 12935601 0 0 7803595 7410424 0 0 0 166350766 224119393 184740119 244465418 173057620 202364825 1241045262 1516384288 322131158 397113502 918914104 1119270786 X 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. 0 0 CONDUCT BUSINESS BY PROVIDING PROPERTY INSURANCE TO INDIVIDUALS AND BUSINESSES WHO WERE UNABLE TO BUY IT IN THE STANDARD MARKET. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 3370 0 1 0 1 0 0 0 0 0 0 0 0 X 14 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X SARAH MOORE 9198211299 751 CORPORATE CENTER DR 200 RALEIGH NC 27607 MICK QUINLAN DIRECTOR OF IT (FROM APR '23) 18.75 18.75 X X 0 211760 32150 ALLEN HOUCK CHAIR 1.00 1.00 X X 0 0 0 BOB MESSIER CHAIR (TO MAR '23) 1.00 1.00 X X 0 0 0 ERIC HAMMONS VICE CHAIR (FROM JUN '23) 1.00 1.00 X X 0 0 0 ROD EVANS BOARD MEMBER 1.00 1.00 X 0 0 0 CHRIS FRISBIE BOARD MEMBER (TO JUN '23) 1.00 1.00 X 0 0 0 ALEX GARATE BOARD MEMBER (FROM JUN '23) 1.00 1.00 X 0 0 0 MONICA GARDNER BOARD MEMBER (FROM NOV '23) 1.00 1.00 X 0 0 0 STEVE HALL BOARD MEMBER (FROM JUN '23) 1.00 1.00 X 0 0 0 CHARLOTTE HICKS BOARD MEMBER 1.00 1.00 X 0 0 0 DONALD HORNSTEIN BOARD MEMBER 1.00 1.00 X 0 0 0 BILL LONG BOARD MEMBER 1.00 1.00 X 0 0 0 JOHN MILETTI BOARD MEMBER 1.00 1.00 X 0 0 0 BECKY POLLARD BOARD MEMBER 1.00 1.00 X 0 0 0 FRANKLIN ROUSE BOARD MEMBER 1.00 1.00 X 0 0 0 STEVE SMITH BOARD MEMBER 1.00 1.00 X 0 0 0 ERIC VAITH BOARD MEMBER 1.00 1.00 X 0 0 0 PATRICK WEIL BOARD MEMBER (TO MAR '23) 1.00 1.00 X 0 0 0 DIANNE HARDY CHIEF EXECUTIVE OFFICER 18.75 18.75 X 0 514921 47702 ALVIN ASHWORTH CHIEF OPERATING OFFICER 18.75 18.75 X 0 374965 51437 ROBERT EADES CHIEF CLAIMS OFFICER 18.75 18.75 X 0 273827 49076 TEKEELA BARNES CHIEF INFORMATION OFFICER 18.75 18.75 X 0 257817 46985 SONYA CHAMPION DIRECTOR OF HUMAN RESOURCES 18.75 18.75 X 0 248458 31235 VICKI FISHER DIRECTOR OF CLAIMS 18.75 18.75 X 0 208532 26263 REGINA O'CONNOR DIRECTOR OF IT (TO MAR '23) 18.75 18.75 X 0 206223 45866 0 2296503 330714 0 0 1 0 USAA INSURANCE AGENCY INC 9800 FREDERICKSBURG RD SAN ANTONIO TX 78288 PRODUCER COMMISSION 6249848 TOWNE INSURANCE AGENCY LLC 301 BENDIX RD 300 VIRGINIA BEACH VA 23452 PRODUCER COMMISSION 1929720 HAROLD W WELLS & SON INC 1 N 3RD ST WILMINGTON NC 28401 PRODUCER COMMISSION 1330406 MCGRIFF INSURANCE SERVICES 5850 WATERLOO RD SUITE 240 COLUMBIA MD 21045 PRODUCER COMMISSION 1323928 CHALK & GIBBS INC 1006 ARENDELL ST MOREHEAD CITY NC 28557 PRODUCER COMMISSION 1291454 211 PREMIUMS 524298 411246088 411246088 411246088 35231234 35231234 352921 352921 352921 446830243 411246088 0 35584155 X 12935601 669084 5483380 842562 18158 397240 344557 100015 561535 77970715 1182076 7982476 834415 58630 332131 116194 1395807 LOSSES & LAE 103400636 PREMIUM TAX 16822854 CLAIMS EXPENSE 1975328 11042024 244465418 166562947 194827387 51956549 28385895 40260002 58589361 20466619 20457155 1466 9464 982264298 1234572181 1241045262 1516384288 32505587 45491866 289625571 351621636 322131158 397113502 X 0 0 0 0 918914104 1119270786 918914104 1119270786 1241045262 1516384288 X 202364825 -2008143 X 0 1 X 1 0 20466619 20457155 9464 9464 UNEARNED PREMIUM RESERVES 303717614 LOSS RESERVES 35424096 RETIREMENT LIABILITIES 5554461 LOSS ADJUSTMENT EXPENSE RESERVES 6920904 PREMIUM SUSPENSE 4561 351621636 432338455 0 432338455 1556187 12935601 14491788 446830243 229980756 7126 7126 229973630 1556187 12935601 14491788 244465418 PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS EXPENSE 12,935,601. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 7,126. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS EXPENSE 12,935,601. 0 STRENGTHEN YOUR ROOF GRANTS 2116 12935601 PART I, LINE 2: GRANT FUNDS ARE DISTRIBUTED AFTER RECEIPT OF A FINAL CONTRACTOR'S INVOICE AND AN IBHS FORTIFIED ROOF CERTIFICATION. X X 0 0 0 DIANNE HARDY CHIEF EXECUTIVE OFFICER 0 473911 0 40000 0 1010 0 22838 0 24864 0 562623 0 0 ALVIN ASHWORTH CHIEF OPERATING OFFICER 0 331747 0 41448 0 1770 0 22012 0 29425 0 426402 0 0 ROBERT EADES CHIEF CLAIMS OFFICER 0 238230 0 34587 0 1010 0 17538 0 31538 0 322903 0 0 TEKEELA BARNES CHIEF INFORMATION OFFICER 0 222356 0 34451 0 1010 0 17196 0 29789 0 304802 0 0 SONYA CHAMPION DIRECTOR OF HUMAN RESOURCES 0 217468 0 29220 0 1770 0 16445 0 14790 0 279693 0 0 REGINA O'CONNOR DIRECTOR OF IT (TO MAR '23) 0 176653 0 28560 0 1010 0 13646 0 32220 0 252089 0 0 MICK QUINLAN DIRECTOR OF IT (FROM APR '23) 0 161139 0 49327 0 1294 0 14074 0 18076 0 243910 0 0 VICKI FISHER DIRECTOR OF CLAIMS 0 183988 0 23534 0 1010 0 12043 0 14220 0 234795 0 0 FORM 990, PART VI, SECTION A, LINE 6 EVERY INSURER AUTHORIZED TO WRITE BASIC PROPERTY INSURANCE IN NORTH CAROLINA, EXCEPT TOWN AND COUNTY MUTUAL INSURANCE ASSOCIATION AND ASSESSABLE MUTUAL COMPANIES AND EXCEPT INSURER WHO ONLY WRITES INSURANCE ON PROPERTY EXMEPTED FROM TAXATION, SHALL BE REQUIRED TO BECOME AND REMAIN A MEMBER OF THE ASSOCIATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS CONSIST OF FOURTEEN (14) MEMBERS: SEVEN (7) REPRESENTATIVES FROM THE INSURANCE INDUSTRY, FOUR (4) LICENSED AGENTS AND THREE (3) FROM THE GENERAL PUBLIC. THE AGENT AND PUBLIC REPRESENTATIVES ARE APPOINTED BY THE COMMISSIONER OF INSURANCE. EACH YEAR THE INSURANCE INDUSTRY REPRESENTATIVES ARE NOMINATED AND APPROVED BY THE BOARD OF DIRECTORS. EACH YEAR THE SEVEN (7) INSURANCE INDUSTRY BOARD MEMBERS REPRESENT THE REMAINING COMPANIES OF THE INSURANCE INDUSTRY BY PROXIES. FORM 990, PART VI, SECTION A, LINE 7B ALL PLAN OF OPERATION AND PROCEDURAL CHANGES MUST BE APPROVED BY THE BOARD OF DIRECTORS WITH SOME COMPANY MEMBERS PROVIDING THEIR VOTES BY PROXIES. ONCE THESE CHANGES ARE APPROVED BY THE BOARD OF DIRECTORS, THEY ARE FILED WITH THE COMMISSIONER OF INSURANCE FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE GENERAL MANAGER BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR ALL BOARD OF DIRECTORS AND EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT. THESE STATEMENTS ARE REVIEWED FOR INDICATION OF CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HIRE AND PROVIDES REVIEW AND COMPENSATION FOR THE GENERAL MANAGER. THE GENERAL MANAGER APPROVES HIRING AND COMPENSATION FOR ALL REMAINING EMPLOYEES. FOR KEY EMPLOYEES OF THE ORGANIZATION, COMPARABILITY DATA FROM PROPERTY CASUAL TY INSURERS (PCI) AND NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES (NAMIC) WERE UTILIZED TO DETERMINE EQUITABLE COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE ASSOCIATION'S WEBSITE. FORM 990, PART IX, LINE 11G COMMISSIONS 77,580,152. OTHER PROFESSIONAL SERVICES 348,255. ACTUARIAL FEES 42,308. FORM 990, PART XI, LINE 9: CHANGE IN MINIMUM PENSION LIABILITY -753,249. CHANGE IN NONADMITTED ASSETS -1,247,768. BAD DEBT EXPENSE -7,126. NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION 751 CORPORATE CENTER DR STE 200 RALEIGH NC 27607 561222676 INSURANCE NC 501(C)(6) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0