A BILL TO BE ENTITLED AN ACT TO ALLOW INSURANCE COMPANIES WRITING PRIVATE AUTOMOBILE INSURANCE IN NORTH CAROLINA TO OFFER OPTIONAL PROGRAM ENHANCEMENTS.
Enacts new GS 58-36-43 as the title indicates.Allows insurance companies writing private automobile insurance to incorporate optionalenhancementsin an automobile insurance policyunder Article 36 of GS Chapter 58 (1) ifthe insurer has filed the proposed enhancement including any proposed premium charge with the Commissioner of Insurance (Commissioner)and (2) ifthe proposed enhancement is approved by the Commissioner. Provides that amendments to private passenger automobile program enhancements are subject to the same requirements as an initial filing. Specifies that a rate amendment under this proposed section is not a rate deviation and is not subject to the requirements regarding rate deviations in GS 58-36-30(a). Provides criteria regarding the reporting of premiums, expenses, and losses associated with individual company automobile program enhancements.
Effective July 1, 2013.
© 2021 School of Government The University of North Carolina at Chapel Hill
This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.