Binding Restrictions for Tropical Cyclone 16 – North Carolina & Virginia

September 22, 2023

Tropical Depression Sixteen has formed off the coast of Florida and the National Weather Service has issued a preliminary forecast track for the storm.  It is forecast to strengthen into a tropical storm (and be known as Tropical Storm Ophelia) and make landfall early Saturday along the mid-Atlantic coast.  SIU has started to receive cease-bind restrictions in North Carolina and Virginia.  We are restricting access to our online property raters in the following counties.

North Carolina:

Beaufort, Bertie, Brunswick, Camden, Carteret, Chowan, Craven, Currituck, Dare, Hyde, Jones, New Hanover, Onslow, Pamlico, Pasquotank, Pender, Perquimans, Tyrrell, Washington

Virginia:

Accomack, Charles City, Chesapeake, Essex, Gloucester, Hampton, Isle of Wight, James City, King and Queen, King William, Lancaster, Mathews, Middlesex, New Kent, Newport News, Norfolk, Northampton, Northumberland, Poquoson, Portsmouth, Prince George, Richmond, Suffolk, Surry, Virginia Beach, Westmoreland, York

Binding restrictions apply as described below:

• New Business:  No new business may be bound in the impacted area for the line or lines of business indicated in the issued bulletin.
• Current Business: No increased amount of insurance or additional coverage may be endorsed onto current policies unless you have quoted and received payment prior to receiving a cease bind notice.
• Renewal Business:  Must be renewed with no higher limits and no better terms and conditions than the expiring policy, unless you have quoted and received payment prior to receiving a cease bind notice.

Common Questions:

Can I still quote and bind liability business?
During a storm, most carriers remain open to binding liability business. Please review the SIU website information for more on each carrier’s restrictions.

Do restrictions apply to renewal business?
Renewals will be bound as long as there is no change in coverage. Any changes in coverage cannot be considered until the moratorium is lifted.

What if I sent my bind request prior to the bind restriction being put in place?
Bind requests received prior to a carrier announcing binding restrictions will be processed. Renewals will be bound as long as there is no change in coverage. Any changes in coverage cannot be considered until the moratorium is lifted.

How do we reach SIU in the event the Florida office is closed?
All calls will be routed to our Alpharetta, GA location. You can reach us directly at 678-498-4500.

Notification will be sent once binding restrictions have been lifted. Thank you for your immediate attention.

Please check with your underwriter for more details on a particular risk:

SIU Main PH:  678.498.4500
FL Main PH: 407.671.7464

The following link will allow you to view the National Weather Services National Hurricane Center: https://www.nhc.noaa.gov/. The website will reflect the most recent changes in a storms activity.

Please check back frequently for updates.

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