RALEIGH, N.C.  – A state House committee pores over the financial effects on North Carolina from revamping an underfunded insurance program for coastal properties.

The House Finance Committee on Thursday considers the best way to fix the Beach Plan, a vital insurance provider for homes in 18 coastal counties.

The Beach Plan has promised insurance coverage to properties valued at nearly $74 billion, but its resources top out at about $2.4 billion. Beyond that, the Beach Plan would turn to all of the state’s property insurers to pay claims.

Lawmakers are proposing changes that include capping how much insurers would be assessed after a bad hurricane and shifting the remaining rebuilding costs to all North Carolina policyholders.