Bill Summary for S 133 (2019-2020)
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View NCGA Bill Details | 2019-2020 Session |
AN ACT TO AMEND THE INSURANCE RATE-MAKING LAWS, AS RECOMMENDED BY THE DEPARTMENT OF INSURANCE.Intro. by Johnson, Burgin, Sawyer.
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Bill summary
Senate committee substitute to the 1st edition makes the following changes.
Amends GS 58-36-65, Classifications and Safe Driver Incentive Plan (Plan) for nonfleet private passenger motor vehicle insurance by amending the definition of conviction as it is used in the statute to now mean a plea of guilty, a plea of no contest, or the determination of guilt by a jury or by a court, even if no sentence has been imposed, or if imposed, has been suspended, and it includes a forfeiture of bail or collateral deposited to secure appearance in court of the defendant, unless the forfeiture has been vacated and means an infraction. Makes clarifying changes to subsection (j).
Further amends subsection (k) of GS 58-36-65, by clarifying that the provisions allowing for the subclassification plan to provide for premium surcharges for insureds having less than eight years' driving experience as licensed drivers, applicable to insureds receiving a driver's license for the first time on or after October 1, 2019, are notwithstanding subsection (j).
Makes clarifying changes to new subsection (k1) in GS 58-36-65.
Adds the requirement that the Department of Insurance conduct public outreach on how the provisions of the act may impact insurance premiums for policyholders and experienced and inexperienced drivers. Requires the outreach to include information published on the Department's website and allows for coordination with members of the insurance industry and the North Carolina Rate Bureau.