If you live near the coast you could soon be paying more for your insurance. The North Carolina insurance industry proposed rate increases of up to seventy-percent in eighteen counties, including New Hanover, Pender, and Brunswick Counties. The increase will have the largest impact on beach areas or parts of the counties south and east of the Intracostal Waterway. Experts say insurance companies are trying to protect themselves. Jim Moore of James Moore Insurance Agency commented, “The insurance companies are concerned about getting the big hurricane, the one we've never had, which I call the category 10, and they're afraid they'll go bankrupt if it hits.” Due to the high risk factor in coastal areas, most wind insurance is currently set up through a government established beach plan. If a disaster occurs, all insurance companies share the losses.