Declares the that the act's intent is to study potential improvements to the residual property market mechanisms established in Articles 45 (Essential Property Insurance for Beach Area Property) and 46 (Fair Access to Insurance Requirements) of GS Chapter 58 in response to the increased challenges presented by the significant insured losses caused by natural disasters. Directs the North Carolina Insurance Underwriting Association (NCIUA) and the Joint Underwriting Association (Association) to jointly study the feasibility of the following: (1) NCIUA establishing an excess property coverage (defined) option for insureds and (2) the issuance of post-event catastrophe bonds (defined) as an option to provide for covered losses caused by a named storm, in excess of NCIUA's or the Association's capacity to pay claims. Requires NICUA and the Association to report the study's findings, including recommendations for legislation to the named NCGA committees by March 1, 2026.