Bill Summary for H 317 (2017-2018)
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Bill: SURCHARGE TRANSPARENCY.
Summary date:
Mar 9 2017
Bill Information:
| View NCGA Bill Details | 2017-2018 Session |
AN ACT TO PROVIDE THAT NORTH CAROLINA AUTO INSURANCE SURCHARGES IMPOSED TO SUBSIDIZE THE LOSSES OF THE NORTH CAROLINA MOTOR VEHICLE REINSURANCE FACILITY BE CLEARLY COMMUNICATED TO POLICYHOLDERS.Intro. by Hardister, Ross, Corbin, Goodman.
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Bill summary
Identical to S 137 filed on 2/28/17.
Amends GS 58-37-40(f) concerning certain NC auto insurance surcharges, providing that such surcharges imposed to subsidize the losses of the NC Motor Vehicle Reinsurance Facility must be itemized and displayed to the policyholder at the time the policy is issued or renewed, and prescribes the form for that display. Applies to motor vehicle insurance policies issued or renewed on or after October 1, 2017.