In February, Nationwide Mutual Insurance filed notice with the North Carolina Department of Insurance that it would non-renew some 10,525 homeowner policies in the state due in large part to the growing risk from climate change and hurricanes.
The move was in line with Nationwide and other national carriers’ plans to reduce exposure, including losses from costly natural disasters – such as wildfires and floods in California and storms in Florida and other coastal states.
“Strong headwinds brought on by the economic e