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Tue February 20, 2007
State Warns Topsail Residents About Flood Policy
By Catherine M. Welch
Wilmington, NC – North Carolina's Insurance Commissioner is cautioning Topsail residents about an unlicensed company selling flood insurance.
The Department of Insurance says because Continental Casualty Insurance Group is unlicensed, policyholders will lack protection if the company goes out of business.
Department of Insurance spokesperson Chrissy Pearson says it's rare to hear of unlicensed companies selling flood insurance.
"You've got folks in Topsail Beach needing that policy very badly, they're in dire straights as far as getting proper flood insurance coverage for themselves. And they end up being somewhat vulnerable to pitches like this."
Pearson says Continental Casualty Insurance Group has sold more than 50 policies in North Carolina. She advises residents to call the state Department of Insurance if a policy seems too good to be true.