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Reinsurance Facility

Project Scope: The mission of the NC Reinsurance Facility is to ensure that all eligible risks can purchase auto liability insurance, to ensure the right premiums are collected and the correct losses are paid, and to minimize the impact on policyholders and companies in North Carolina. This evaluation will include a financial review of the Facility, a review of the governance structure of the Facility, an assessment to determine whether the Facility has the appropriate tools to track losses, and an assessment of the legislative authority granted to the Facility, with consideration for additional authority to allow the Facility to set rates at appropriate amounts to address the losses.

Project Mandate: 2019–20 Work Plan

Agency or Agencies Under Review: NC Motor Vehicle Reinsurance Facility (NCRF)

Project Lead: Adora Thayer

Status Report for Week Ending January 8, 2021:

  • Identifying key research questions
  • Conducting background research
  • Creating project schedule
  • Scheduling entrance conference
Program Evaluation Division, North Carolina General Assembly
Legislative Office Building, Suite 100
300 North Salisbury Street , Raleigh, NC 27603-5925