AN ACT TO AMEND THE LAW GOVERNING THE PROCEDURES FOR DETERMINING THE AMOUNT OF PROPERTY DAMAGE TO A MOTOR VEHICLE WHEN LIABILITY FOR COVERAGE FOR THE CLAIM IS NOT IN DISPUTE.
Amends GS 20-279.21(d1), concerning the required provisions of motor vehicle insurance policies to govern the process for determining the amount of property damage to a motor vehicle when the liability for coverage is not disputed. Under current law, the claimant or the insurer has 15 days to reject the report determining the amount of damages and notify the other party of the rejection before the report becomes binding. Deletes these provisions to instead establish that an agreement between either of the appraisers and the umpire is binding on both the claimant and the insurer.
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