Makes organizational changes to move the definition given for the term clean risk as it is used in Article 37, which governs the NC Motor Vehicle Reinsurance Facility (Facility). Moves the definition from GS 58-37-35 to the Article's definitions statute, GS 58-37-1.
Enacts GS 58-37-33 to prohibit an insurer from ceding any policy or renewal thereof held by a clean risk to the Facility.
Further amends GS 58-37-35 to eliminate provisions regarding subclassifications and rates for clean risks.
Applies to policies issued or renewed after October 1, 2021.
ELIM. CESSION OF CLEAN RISKS TO FACILITY.
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| View NCGA Bill Details | 2021 |
AN ACT TO ELIMINATE THE CESSION OF CLEAN RISKS TO THE REINSURANCE FACILITY.Intro. by Cleveland, Setzer, Howard, Faircloth.
Status: Ref to the Com on Insurance, if favorable, Transportation, if favorable, Rules, Calendar, and Operations of the House (House action) (Mar 4 2021)
H 208
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Bill H 208 (2021-2022)Summary date: Mar 2 2021 - View Summary
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